Michael Sabia is a Canadian businessman and corporate leader. He is best known for his role as the president and CEO of the Caisse de dépôt et placement du Québec (Caisse Depot), one of Canada’s largest institutional investors. He is known for his strategic vision and ability to lead large organizations through complex transformations.
Sabia was born in Montreal, Quebec, in 1951, and spent his early years in the city. Sabia is the son of Michael Joseph Sabia and Laura Sabia (née Villela); both of his parents are of Italian descent. He was raised in a middle-class family and appeared to have a traditional upbringing.
He attended Ridley College in St. Catharines. Sabia received his undergraduate education from the University of Toronto, and he earned his graduate degree at Yale University.
His wife, Hilary Pearson, is the granddaughter of former Prime Minister Lester B. Pearson. In 2016, Sabia was appointed as Officer of the Order of Canada.
After completing his undergraduate degree, Sabia began his career in the public service. He joined the federal government as an economist and quickly rose through the ranks, becoming a senior economic advisor to the Prime Minister in the 1980s. He then went on to work in various senior roles in the public service, including as Deputy Minister of Finance and as the head of the Federal Business Development Bank.
He began his career as an economist for the federal government of Canada, working for the Ministry of Industry, Trade, and Commerce.
In the early 1990s, Sabia made the transition to the private sector, joining BCE Inc., one of Canada’s largest telecommunications companies, as its Chief Financial Officer. He quickly established himself as a key player at the company and was instrumental in shaping its strategic direction. He was later promoted to the position of President and CEO, where he led the company through a period of significant growth and expansion.
In 2002, Sabia was appointed as the President and CEO of the CDPQ, one of the largest institutional investors in Canada. At the time, the organization was facing a number of significant challenges, and Sabia was tasked with turning it around. He developed a new strategic vision for the organization, and under his leadership, it has undergone a major transformation. Today, the CDPQ is widely recognized as one of the most successful institutional investors in the country.
Throughout his career, Sabia has been recognized for his leadership, strategic vision and ability to lead large organizations through complex transformations. He has received numerous awards and honors, including being made an Officer of the Order of Canada in recognition of his contributions to the country.
In addition to his professional achievements, Sabia is also known for his philanthropic efforts and his commitment to community service. He is involved in a number of charitable organizations, and is a strong advocate for education, healthcare and the arts.
In 2009, Sabia was appointed as the President and CEO of the Caisse de dépôt et placement du Québec. He has been credited with transforming the organization, leading it through a period of significant growth and diversification.
Michael Sabia’s remarkable impact on the Canadian business sector is undeniable. His skillful leadership of tax policy as General Director provided a renewed foundation for Canada’s fiscal infrastructure, and his tenure at iconic companies such as Bell Canada Enterprises and The Canadian National Railway revived these businesses to their former glories. Furthermore, under Michael’s guidance the Caisse de dépôt et placement du Québec overcame financial crisis amidst unprecedented vitality – an exceptional feat in its own right!
As of 2021, Michael Sabia’s net worth is not publicly disclosed but as the President and CEO of Caisse de dépôt et placement du Québec, he is expected to have a substantial net worth.
Sabia has also served on the boards of several other major Canadian companies, including the Bank of Montreal, the Royal Bank of Canada, and Bombardier Inc. He is also a member of the Order of Canada and has received several other honors for his contributions to the business community.
Achievements and awards include:
These are just a few examples of the many awards and honors Sabia has received throughout his career, reflecting his reputation as a highly accomplished businessman and corporate leader.