Brampton’s Navdeep Bains, ex-Mississauga MP, takes executive job at major Canadian bank
Published September 27, 2021 at 8:21 pm
Brampton’s Navdeep Bains has found his next challenge outside of politics.
The former federal minister of innovation, science and industry, who was a five-term member of Parliament in both Mississauga and Brampton, has been hired by CIBC as vice-chair, global investment banking. He will officially join the bank Oct. 4.
Bains, 44, stepped down as innovation minister in January and did not run in the recent federal election. At the time, he spoke of needing more family time with his spouse, Brahamjot Bains, and their two school-aged daughters.
The Turner Fenton Secondary School alumnus was among a handful of high-profile cabinet ministers that opted out of seeking re-election. Another was Hamilton native Catherine McKenna, who served as both minister of the environment and of infrastructure.
CIBC says Bains will focus on developing and fostering senior level client relationships and business development as part of its capital markets team.
Bains joins former Conservative Party of Canada (CPC) cabinet minister Lisa Raitt who was hired by CIBC in January 2020 as vice-chair, global investment banking.
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Bains was the Liberal Party of Canada’s national campaign co-chair during the recent election. The Liberals won 158 of 338 seats in the House of Commons, which was enough for Prime Minister Justin Trudeau to get the first crack at forming government in a hung Parliament.
The Liberals also won all 10 seats up for grabs in Mississauga and Brampton.
Brampton native Iqwinder Gaheer captured Bains’ former seat in Mississauga—Malton with 52.9 per cent support. At age 28, Gaheer is just slightly older than Bains was when he became a rookie MP at age 26 in 2004.
— With files from Steve Pecar and The Canadian Press
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