Canada announces reappointment of President and CEO of Business Development Bank of Canada

From: Innovation, Science and Economic Development Canada

The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, today announced the reappointment of Michael Denham as the President and CEO of the Business Development Bank of Canada (BDC) for an additional one-year term, effective August 10, 2020.

Originally appointed CEO in August 2015, Michael Denham has led BDC in its purpose of supporting small and medium-sized businesses across the country with a wide range of lending support, advice and venture capital. Mr. Denham’s reappointment will provide much-needed continuity in BDC’s vital work during these extraordinary times.

Mr. Denham is bilingual and holds a Bachelor of Arts from the Woodrow Wilson School of Public and International Affairs at Princeton University and a Master of Science in Economics with distinction from the London School of Economics. Prior to joining BDC, he held senior roles at McKinsey, Bombardier, Accenture and AquaTerra.

Quotes

“Michael Denham has been instrumental in ensuring BDC provides services that small business owners in all sectors across the country need-including during the current COVID-19 crisis. Whether it is Main Street businesses looking for lending support to keep up with their operating expenses or high-growth startups seeking financing as they look towards recovery, BDC will continue to help Canadian businesses through this challenging time.”

– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade

“In the past five years, BDC has reached a record number of entrepreneurs and has had a positive impact on businesses in every industry and every part of Canada. As we look ahead, the COVID-19 pandemic will continue to cause financial distress for business owners. BDC will be a key player in helping them with the capital and advice they need to rebuild their businesses. It is both a pleasure and an honour to be part of the team, and I’m looking forward to pursuing our purpose of supporting small and medium-sized businesses during these difficult times and into the recovery.”

– Michael Denham, President & CEO, BDC

Quick facts

  • BDC is a Crown corporation that reports to Parliament through Innovation, Science and Economic Development Canada.

  • Its purpose is to support entrepreneurs in all industries and all stages of growth by providing access to financing, as well as advisory services to help Canadian businesses grow and succeed. Its investment arm, BDC Capital, offers a wide range of risk capital solutions. BDC is governed by an independent board of directors, which ensures the highest standard of corporate governance practices.

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