Business Development Bank of Canada - Definition and Overview

The Business Development Bank of Canada is a crown corporation financial institution wholly owned by the Government of Canada. BDC plays a leadership role in delivering financial and consulting services to Canadian small business, with a particular focus on technology and exporting.

BDC's debt obligations, secured by the Government of Canada, are issued to the public and private sector institutions.

History

BDBC started as the Industrial Development Bank (IDB) in 1944:

• 1952-1964 - Admendments to the IDB Act 1944
• 1964-1974 - diversification of services: counselling, training and planning for small business owners
• 1975 - Federal Business Development Bank replaces the IDB
• 1983 - Investment Banking Division created
• 1995 - revision of Business Development Bank of Canada Act and new name - BDBC

Services

The following are services provided by the BDBC:

• financial services
• consulting services
• subordinate financing
• venture capital

Executives

• André Bourdeau - acting President and CEO
• Cedric Ritchie - Chairman of the Board
• Michel Ré - Executive Vice President, Investments
• Edmée Métivier - Executive Vice President, Integrated Risk and Technology Management
• Guy G. Beaudry - Senior Vice President, Corporate Affairs and Chief Planning Officer
• Michel Bourret - Senior Vice President, Operations, Quebec and Atlantic Region
• Jacques Lemoine - Senior Vice President, Operations, Ontario Region
• Charlotte Robb - Senior Vice President, Operations, Prairies and Western Region
• Alan Marquis - Senior Vice President, Finance and Chief Financial Officer
• Mary Karamanos - Senior Vice President, Human Resources
• Richard Morris - Vice President, Audit and Inspection
• Clément Albert - Vice President and Treasurer

External Link:

• Business Development Bank of Canada Official Website (http://www.bdc.ca/en/home.htm)

• Canadian Department of Justice - Business Development Bank of Canada Act text (http://laws.justice.gc.ca/en/B-9.9/9205.html)

Related Link:

• Liberal Party of Canada sponsorship scandal