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Board of Directors

Our Board of Directors is made up of experienced corporate administrators, real estate specialists and financing industry experts.


Ross Brennan

President and Chief Executive Officer, Canada
Otéra Capital


With a career spanning some 30 years in commercial real estate debt, Ross Brennan has acquired solid expertise holding various senior positions in Canada and the United States. His responsibilities have included management of the loan restructuring group at Toronto Dominion Bank as well as management of the Canadian assets of GE Capital. He is also a pioneer of the Canadian CMBS market, having overseen the start-up of Toronto Dominion Bank’s and Colliers International’s operations in this area.

Ross Brennan holds a bachelor’s degree from the University of London, England.





François Girouard

Chief Investment Officer
Desjardins Group Pension Fund


François Girouard joined the Desjardins Group Pension Plan in July 1999 as a traditional investment manager. For over four years, he has been its Chief Investment Officer and, as such, he is ultimately responsible for all of the pension fund’s asset-allocation decisions. He previously worked with Mouvement Desjardins as a unit head in custody services for four years and as a financial analyst for ten.

François holds a bachelor’s degree in business administration from the University of Sherbrooke and has successfully completed courses on securities exchange and investment financing for Canada.





Jean-Louis Hamel

Corporate Director

Jean-Louis Hamel has a wealth of experience as a corporate administrator. He took up a challenging career as a corporate banker specializing in real estate and has held a number of related senior management positions, notably for Colliers International and CIBC World Markets Inc.

Mr. Hamel holds diplomas from the HEC Montréal Business School (L.Sc.Com.), McGill University’s Faculty of Law (B.C.L.) and the Harvard Business School (AMP). He currently sits on several corporate boards





Ghislaine Laberge, ASC

Corporate Director

Ghislaine Laberge has over 40 years of experience in placement and administration of mortgage portfolios, in investment and in real estate management. Before devoting herself to her new role as Corporate Director, she was the vice-president of mortgage investment for Desjardins Life Insurance. Ms. Laberge also sits on the Board of Trustees of the Cominar Real Estate Investment Trust.

She holds a university certificate in corporate governance from the Collège des administrateurs de sociétés (college of corporate directors).





Michel Labonté

Corporate Director

Michel Labonté gained his wide-ranging expertise during a fruitful career with, among other institutions, the National Bank of Canada, where he successively held the positions of Senior Vice-President, Finance and Control, Senior Vice-President, Finance and Technology, Senior Vice-President, Finance, Technology and Corporate Affairs, and Executive Advisor. He had previously spent 10 years with Hydro-Québec senior management. From 1975 to 1983, he held various positions with the Government of Québec, including the Treasury Board and the Ministry of Finance.

Mr. Labonté has a bachelor’s degree in arts from Université de Montréal, a bachelor’s degree in architecture from McGill University, and a master’s degree in urban planning from Université de Montréal. He is a member of the Institute of Corporate Directors.





Karen Laflamme

Senior Vice-president, Real Estate
Caisse de dépôt et placement du Québec

Karen Laflamme was promoted to Senior Vice-President, Real Estate, in August 2009. In this role, she supports the Executive Vice-President, Real Estate, and President of the Caisse’s Real Estate group in the integrated management of the group’s activities. Karen Laflamme joined the Caisse in 1993. Prior to her recent appointment, she had been Vice-President, Real Estate Portfolio, with the Caisse’s Real Estate group since January 2005.

Ms. Laflamme began her career in 1984 at Clarkson Gordon (Ernst & Young), first as an Auditor and subsequently as an Audit Team Leader. She remained at the firm until 1989. She then worked for four years at CN Real Estate as a Senior Accountant.

Ms. Laflamme is a chartered accountant with over two decades of experience in the auditing and real estate sectors.





Ghislain Parent

Executive Vice-President, Finance and Operations
Caisse de dépôt et placement du Québec
President, CDP Financial


Ghislain Parent joined the Caisse in December 2002. In his current position, he heads the teams responsible for accounting, control, financial governance, operations (investment platforms, middle office and back office) and business services. He is also responsible for relations with credit rating agencies and oversees the operations of subsidiary CDP Financial.

A Fellow Chartered Accountant, Mr. Parent has gained wide-ranging finance and audit experience during his career, with Clarkson Gordon (now Ernst & Young), the Office of the Superintendent of Financial Institutions of Canada, Desjardins-Laurentian Financial Corporation, Laurentian Bank of Canada and the International Monetary Fund.





Fernand Perreault

Strategic Adviser to the President
Caisse de dépôt et placement du Québec


Fernand Perreault is Strategic Adviser to the Caisse de dépôt et placement du Québec’s President, who was appointed in March 2009. In this capacity, he shares his expertise on strategic business objectives, contributes to defining the actions to be taken to deal with the new financial market reality and assists the President and members of the Executive Committee with the implementation of the Caisse’s main priorities. Mr. Perreault was the Caisse President and CEO by interim from January to March 2009. Prior to this appointment, Mr. Perreault had served as Executive Vice-President, Real Estate, for the Caisse since 1995. From 1987 to 1995, he was President and CEO of SITQ, a member of the Real Estate Group.

A law graduate from the University of Ottawa, he began his career with Canada Mortgage and Housing Corporation (CMHC), holding several positions including that of Vice-President, Mortgage Insurance.





René Tremblay

President, Real Estate group

René Tremblay is Acting Executive Vice-President of the Caisse’s Real Estate group. In this capacity, he oversees the institution’s real estate investments, including strategy development and portfolio management and growth. He also co-ordinates the operations of the Real Estate group’s main companies and their network of partners, subsidiaries and affiliates.

In addition, Mr. Tremblay continues to carry out his duties as President and Chief Executive Officer of Ivanhoe Cambridge, a major Canadian real estate company with an international scope, specializing in regional and super-regional shopping centres and active in close to 15 countries. Holder of a bachelor’s degree in business administration from Université Laval, he gained solid expertise in real estate with Simpsons-Sears, the Campeau Corporation, Westcliff Group, SITQ and Cadim International.


Otéra Capital inc - Caisse de dépôt et placement du Québec