Colleen Volk has been named president and chief executive officer of Canada Mortgage and Housing Corporation (CMHC) and will step into her new role in sync with the arrival of a slate of boardroom leaders. That includes the former mayor of Edmonton, Don Iveson, who has been appointed board chair, and five new board directors: Darlene Hyde; Laurie LeBlanc; Nick Macrae; Heather Tremain; and Ray Williams.
The federal Crown corporation provides financing, programming, research and market data across the breadth of Canada’s housing sector with a mandate to support affordability and choice in supply and competitive, efficient housing production. Volk comes to the top job with an extensive background in the Alberta and federal public service, most recently rising to Deputy Minister in various Alberta portfolios, including operations, intergovernmental affairs and energy. She also has nine years of CMHC experience earlier in her career, where she attained the positions of assistance vice president of finance and managing director of securitization.
“I look forward to working closely with both Ms. Volk and the CMHC board in the coming years to progress on the government’s efforts to deliver on Canada’s housing priorities,” says Sean Fraser, Canada’s Minister of Housing, Infrastructure and Communities.
“Along with my new board colleagues, I hope to bring my experience and passion for housing to the goal of ensuring everyone living in Canada has a place to call home,” Iveson concurs. “I am honoured to be joining the CMHC board of directors as board chair and to be working with Coleen Volk, the new president and CEO.”
During his tenure as Edmonton’s 35th mayor, Iveson shepherded progressive housing and community energy policies and was chair of the Big City Mayors caucus, a leadership working group promoting the issues of Canada’s largest urban municipalities. Currently, he leads Civic Good, an advisory practice consulting on housing, climate, civic innovation and governance.
The five new board members bring complementary backgrounds in finance, real estate and government administration to their task, as well as collective knowledge of markets across Canada. Darlene Hyde is the former chief executive officer of the B.C. Real Estate Association and former executive director of the Metro Vancouver Commercial Real Estate Development Association. Laurie LeBlanc has served as Deputy Minister of four Ontario government ministries, including Municipal Affairs and Housing.
Nick Macrae is senior vice president and head of investments at Woodbourne Capital Management, a private investment firm specializing in rental housing, seniors housing, purpose-built rental and mixed-use properties, and was previously senior real estate portfolio manager for the Healthcare of Ontario Pension Plan (HOOPP). Heather Tremain was previously chief executive officer of Options for Homes, an organization that leverages innovative financing to help low- and moderate-income families achieve home ownership. Ray Williams is the former vice chairman, financial markets, at National Bank Financial, and co-founder of the Black Opportunity Fund.
“Together, we will work on today’s challenges to build the housing system of the future,” Volk pledges. “I look forward to leading the organization in supporting Canada’s housing system with the dedicated group of people at CMHC.”
