Question Period Note: Chief Executive Officer of the Defence Investment Agency

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About

Reference number:
PSPC-2025-QP-00052
Date received:
Oct 23, 2025
Organization:
Public Services and Procurement Canada
Name of Minister:
Lightbound, Joël (Hon.)
Title of Minister:
Minister of Government Transformation, Public Works and Procurement

Issue/Question:

The appointment of Doug Guzman as Chief Executive Officer of the Defence Investment Agency.

Suggested Response:

  • As Chief Executive Officer of the Defence Investment Agency, Mr. Guzman will oversee military procurement and strategic decisions involving tens of billions of dollars of economic activity
    • Mr. Guzman’s extensive private-sector experience in investment and wealth management is critical to successfully lead the centralization of defence procurement expertise from across the government and deliver on the Defence Investment Agency’s mandate
    • He will lead the Defence Investment Agency in consolidating and accelerating defence procurement processes to deliver the goods and services required by the Armed Forces while enhancing engagement and collaboration with Canadian industry and international partners
    • Mr. Guzman will also provide leadership to ensure our Armed Forces and Coast Guard are equipped with the world-class capabilities needed to succeed, and strengthen Canada’s defence industrial base by fostering innovation, creating more jobs, and creating opportunities for Canadian companies across the country

Background:

Mr. Guzman is a Canadian business leader with three decades of experience in global banking, wealth management, and financial services. Most recently, Mr. Guzman served as Deputy Chair of the Royal Bank of Canada (RBC), advising on enterprise priorities and, together with other members of the Group Executive, was responsible for setting the overall strategic direction of RBC. Immediately prior to his role as Deputy Chair, Mr. Guzman served as Group Head of Wealth Management and Insurance at RBC for nine years.

Mr. Guzman’s appointment as Chief Executive Officer (CEO) of the Defence Investment Agency (DIA) is consistent with those made to other recently created Special Operating Agencies, including the Major-Projects Office and Build Canada Homes, where leadership for these Agencies are sourced from the private sector. Mr. Guzman’s private sector experience will provide valuable insights and perspectives into earnest defence procurement reforms, including leveraging private-sector best practices, experimenting with novel approaches and introducing culture change to deliver on this critical mandate.

Additional Information:

  • On October 2, 2025, the Prime Minister announced the creation of the Defence Investment Agency to overhaul and streamline Canada’s defence procurement processes
    • Mr. Doug Guzman was appointed as its Chief Executive Officer through an Order In Council for a 3-year term, effective November 12, 2025
    • Mr. Guzman’s salary range is commensurate with the ‘Group Chief Executive Officer 8’ Compensation for Crown corporation Chief Executive Officer’s guidelines
    • Mr. Guzman’s compensation will contribute towards Canada’s NATO defence spending target