Sabia named next deputy minister of Finance

The prime minister has announced that veteran executive Michael Sabia will be the next deputy minister of Finance.

He will take the job effective Dec. 14.

Sabia replaces Paul Rochon, who will become senior official at the Privy Council Office.

Sabia is currently director at the Munk School of Global Affairs and Public Policy and chair of the board of the Canada Infrastructure Bank.

He previously worked at the Department of Finance and the Privy Council Office before joining the private sector and brings a wealth of corporate experience to the job.

He is a former chief executive of the Caisse de depot et placement du Quebec and a former chief executive of BCE Inc.