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The Chair of the Board for the Business Development Bank of Canada (BDC), Brian O'Neil, today confirmed the renewal of Isabelle Hudon as CEO until 2030, ensuring continuity in the Crown's direction as entrepreneurs face continued uncertainty amid geopolitical turbulence.
"Isabelle Hudon's leadership has proven a development bank can move fast, stay profitable and make a real difference for businesses on the ground, where it matters most. BDC has been a critical instrument to protect our SMEs from unfair US tariffs and plays a central role to ensuring Canada's economic sovereignty, one business at a time. I look forward to working with her in the years to come as we build a stronger, more resilient and prosperous Canada," said Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions Mélanie Joly.
"Ms. Hudon's exceptional leadership since 2021 has seen BDC take a significant step forward in terms of scope and relevance. Her remarkable track record over the past five years is one any CEO would be proud of, and I am delighted to confirm she will stay with us until 2030 to provide a steady hand at a pivotal time for Canada and its entrepreneurs. The timing could not be better, as BDC is in the midst of shaping its next five-year corporate strategy, and she is uniquely positioned to lead this effort," said Mr. O'Neil.
Ms. Hudon was first appointed in August 2021. Since then, BDC's client count grew by nearly 50%, surpassing 100,000 clients since 2023. Under her leadership, flagship initiatives like the Defence Sector Platform ($6B envelope for financing, investments, consulting and ecosystem support to help build Canada's defence and security capabilities, necessary to ensure Canada's economic sovereignty) and BDC's Community Banking practice were launched.
At the same time, significant new solutions for entrepreneurs were created during her tenure, including the $500M Thrive Venture Fund and Lab, the $500M Growth Venture Fund, the $450M Growth Equity Partners program, $100M Indigenous Entrepreneur Fund, the $100M Black Entrepreneurs Fund, and the $150M Life Sciences Fund.
Ms. Hudon has spearheaded BDC's expanded development role as a key player within the Government of Canada's broader response to unfair tariffs, including:
- Pivot to Grow: $500M envelope for financing and advisory services to help Canadian businesses impacted by tariffs.
- Softwood Lumber Guarantee: $1.2B envelope to help eligible Canadian softwood lumber businesses access financing and letters of credit issued by financial institutions, supported by a guarantee from BDC, which can help offset the financial strain of collateral or bonds related to duty payments.
- LIFT: AI adoption initiative: $500M solution to help 1000 SMEs adopt AI by given them the practical advice and financing they need.
- Steel and Aluminium financing: $1B working capital solution to alleviate the temporary liquidity shock of a changing tariff environment by addressing the immediate risk for companies: drained cash flows and working capital.
More recently, Ms. Hudon served as the Canadian lead negotiator and host for the development of the Defence Security and Resilience Bank (DSRB), a multi-lateral bank intended to fill financing gaps in defence supply chains and provide long-term (15-30 year) financing for NATO members and allies. Under Ms. Hudon's leadership, Canada was selected as the host nation for the headquarters.
BDC has remained consistently profitable during Ms. Hudon's leadership, averaging $1.02 billion in core profits annually while driving down the corporation's efficiency ratio from 41.3 in 2020 to 37.2 in 2025. BDC is a self-financial commercial Crown corporation, committed to being a net benefit to the taxpayer through the dividends it pays back to the Government of Canada ($ 1.4 billion since 2021). All of BDC's expenses are paid from the revenues it generates.
About Isabelle Hudon
Recognized as a mobilizing leader with a keen sense of strategy, Isabelle Hudon has systematically brought an ambitious and resolutely action-oriented vision to all of the organizations she has led. She was appointed President and CEO of BDC in August 2021, after serving as Ambassador of Canada to France and Monaco for four years and holding the positions of President and CEO (Quebec) and Senior Vice President (Canada) of Sun Life Financial.
In addition to her duties at BDC, Isabelle is Co-chair of the Ordre de Montréal's Council and the Co-founder of The A Effect. She previously served as the Personal Representative of the Prime Minister of Canada for La Francophonie and sat on the boards of directors of Hydro-Québec, Groupe Marcelle, Holt Renfrew and the Canada Council for the Arts.
Ms. Hudon has received several notable awards in recognition of her contributions to society and culture. She was awarded an honorary Doctor of Law degree from Concordia University as well as an honorary doctorate from UQAM for her social commitment and contribution to the progress of society or the advancement of the community's well-being. She was also named a Commander of the Legion of Honour by the French government. Her contributions to culture in Canada earned her the Queen Elizabeth II Diamond Jubilee Medal, while her commitment to advancing women's ambition was recognised with the Medal of the National Assembly of Quebec. She was also honoured for promoting the vitality of the Francophonie with the Ordre de la Pléiade and inducted into the Women's Executive Network Hall of Fame, following multiple recognitions as one of Canada's Most Powerful Women: Top 100.
About BDC, Canada's bank for small- and medium-sized business owners
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada's development bank, we also support entrepreneurs who don't fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada's economic growth. BDC is a perennial Canada's Top 100 Employer and B Corp certified. Learn more at bdc.ca or connect with us on social media.
Media contact:
mediainfo@bdc.ca
1 844 625-8321
For more information, visit BDC.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdedd69f-91fc-4dea-9ccb-66902bb4b213
