said in 2019 that "under Sabia's tenure, the Caisse dove into international markets. About 64% of the fund, which manages the pension savings for the province of Quebec, is now in global markets versus 36% in 2009." Sabia was a member of the Canadian federal government's Advisory Council on Economic Growth, which advised the Canadian finance minister on economic policies to achieve long-term sustainable growth. In 2016, the council called for a gradual increase in permanent immigration to Canada to 450,000 people a year. On November 12, 2019, it was announced that Sabia would be leaving CDPQ to become head of the Munk School of Global Affairs and Public Policy at the University of Toronto, ending his term at CDPQ a year early. He started the new role in February 2020. Sabia was replaced as head of CDPQ by Charles Emond in January 2020. In April 2020, Sabia was appointed as Chairperson of the Canada Infrastructure Bank. In June 2020, he was named to the board of directors of the Mastercard Foundation. On December 6, 2020, it was announced that Sabia would replace Paul Rochon as Deputy Minister of the federal Department of Finance. On January 27, 2021, Tamara Vrooman was appointed to succeed Sabia as Chairperson of the Canada Infrastructure Bank. See also Réseau express métropolitain References External links Michael Sabia, Deputy Minister – Department of Finance 1953 births Businesspeople from St. Catharines Canadian chief executives Canadian people of Italian descent Living people Officers of the Order of Canada People of Bell Canada Ridley College alumni University of Toronto alumni Yale University alumni Chief financial officers 20th-century Canadian civil servants Directors of Canada Infrastructure Bank