Visit Campaign: https://charlessousa.liberal.ca
Business & Community Leader | Politician
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Charles Sousa was elected in December 2022 as Canada's federal Member of Parliament for the riding of Mississauga Lakeshore and appointed as Parliamentary Secretary to the Ministry of Public Services and Procurement.
He was previously a director on the boards of Wealth One Bank of Canada and IC Savings credit union. He also sat on Canadian University Dubai's board of trustees and chaired Magellan Community Charities (a new LTC & affordable housing complex). He spearheaded multiple real-estate development projects and provided support to an M&A firm in the UK. Charles lead a variety of consulting contracts in the financial services industry including as a senior advisor to Loyalist Public Affairs. Charles is also the former Minister of Finance for Ontario. He was elected to the Ontario Legislature in 2007 and served three terms, spanning over a decade, as Member Provincial Parliament for Mississauga South. Charles delivered six budgets and delivered historic reforms to Ontario’s pension, insurance and infrastructure. He managed $150 billion budgets and a number of large agencies including LCBO, OLG, OSC and WSIB. Charles oversaw several large commercial transactions including monetization of Hydro One, restructuring of US Steel/Stelco and the reorganization of the Ontario Lottery and Gaming Corporation. He was also President of Treasury Board, Minister of Citizenship & Immigration, Minister responsible for the Pan/ParaPan Am Games and Minister of Labour. Prior to elected office, Charles enjoyed a 20 year commercial banking career with RBC Royal Bank and in capital markets at RBC Dominion Securities. He also owned and operated Lift Finance Inc., an asset based lending firm. |
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Charles has been a champion of financial literacy in schools and continues to serve on community boards, chambers and business associations. He was also ambassador for the Credit Valley Hospital Foundation and the Rainbow Ball Foundation.
Charles earned an MBA from Ivey School of Business at University of Western Ontario, BBA (Honours) from Wilfrid Laurier University, top of class as a Fellow of the Institute of Canadian Bankers and a graduate of the Institute of Corporate Directors at Rotman School of Business. Charles has received many awards and distinctions, including the Order of Portugal, the Queen’s Gold and Diamond Jubilee Medals and recognition as one of Toronto’s 50 Most Influential People by Toronto Life Magazine (2014). |
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EDUCATIONICD.D – Institute of Corporate Directors | 2019 -2020
Rotman School of Business – University of Toronto MBA – Executive Program – Finance | 1992 - 1994 Richard Ivey Business School – Western University (Honours) FICB – Fellowship – Corporate Banking | 1989 - 1991 Institute of Canadian Bankers (Silver Medal) HBA – Economics & Accounting | 1978 - 1982 Wilfrid Laurier University (Honours) |
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POLITICAL CAREER
Prior to being elected as a federal Member of Parliament (MP) for Mississauga Lakeshore in December 2022, Charles served over a decade as the Member of Provincial Parliament (MPP) for the riding of Mississauga-South (now Mississauga-Lakeshore). In addition to being an MPP, Charles held the positions of Minister of Labour, Minister of Citizenship and Immigration, Minister Responsible for the Pan and Parapan American Games, President of Treasury Board and most recently as the Minister of Finance.
As Minister of Finance, Charles delivered six budgets, including leading Ontario to a balanced budget in 2017, the first since the global recession. During his time as Finance Minister, Charles was responsible for fundamental changes in the financial sector in Ontario, including:
Among the many policy initiatives that Charles spearheaded, both as President of Treasury Board and as Minister of Finance, he:
As Minister of Immigration and Citizenship, Charles led many changes, including:
During that time, Charles was instrumental in bringing change to the TO2015 organization in his capacity as Minister of the Pan and Parapan American Games, where he:
As Minister of Labour, Charles spearheaded the:
As Minister of Finance, Charles delivered six budgets, including leading Ontario to a balanced budget in 2017, the first since the global recession. During his time as Finance Minister, Charles was responsible for fundamental changes in the financial sector in Ontario, including:
- The establishment of the new Financial Services Regulatory Authority (FSRA) to strengthen oversight of credit unions, mortgage brokers, provincial pension plans and provincially registered insurers
- The formation of a national Cooperative Capital Markets Regulator to improve competitiveness
- Extensive pension reform, including the creation of a regulatory framework for pooled registered retirement plans and increases to the pension benefit guarantee
- Leadership during a series of First Ministers Meetings towards a strengthened Canada Pension Plan
- Spearheaded and increased the share of provincial portion of federal Cannabis excise revenue
- Prominent in negotiating revisions to the National Health Accord
- Significantly improved financial literacy programming in schools
- Charles oversaw nine agencies as Minister of Finance, including the Liquor Control Board of Ontario (LCBO), Ontario Lottery and Gaming (OLG), and the Ontario Securities Commission (OSC), three of the largest government entities in the country
- With the LCBO, Charles collaborated on the biggest shakeup to beverage alcohol retailing since Prohibition by introducing beer, cider and wine in grocery stores; during his time as Finance Minister, the LCBO consistently delivered record revenues and dividends to the Province
- Charles worked with the leadership at OLG to modify and implement their modernization plan that saw the fundamental transformation of OLG from a 7,000 employee operator of commercial casinos, charity casinos, and the lottery to a much smaller organization that leveraged private sector expertise in gaming, lottery, and horse racing to increase revenues, grow their customer base and aggressively move into the digital age
- Worked closely to enhance OSC’s fintech engagement in development of a regulatory super sand box consisting of new rules and exemptions to facilitate experimentation with new business models and products. Also launched Ontario Fintech Accelerator Office to help start-ups
Among the many policy initiatives that Charles spearheaded, both as President of Treasury Board and as Minister of Finance, he:
- Introduced the Trillium Trust to support the largest investment in Ontario’s public infrastructure history at $160 billion over 12 years, supporting 110,000 jobs annually across the province
- Expanded OHIP to cover prescription medications for anyone under the age of 25, supporting Ontario families without private benefit plans
- Revamped tuition for 210,000 post-secondary students, making access to post-secondary education easier
- Implemented the Fair Hydro Plan to cut energy bills
- Intervened in the overheated residential real estate market in the Greater Toronto Area by cracking down on speculators and moving to increase supply
- Implemented small business tax cuts and tax grants for businesses who hire young people and apprentices
- Worked closely with the Premiers Advisory Council on Government Assets to monetize a portion of Hydro One and introduced private sector discipline to improve efficiency. He also helped drive the recovery of Stelco in the steel industry
As Minister of Immigration and Citizenship, Charles led many changes, including:
- The introduction of an Immigration Strategy which led to a substantial increase to Ontario’s provincial nominee program and higher share of economic class
- He also oversaw the Ontario Medals of Honour and citizenship ceremonies
During that time, Charles was instrumental in bringing change to the TO2015 organization in his capacity as Minister of the Pan and Parapan American Games, where he:
- Implemented $1.5 million in new multi-purpose sporting venues
- Held the organization to account and consistently pushed them to come within budget
- Promoted ten new facilities with lasting community legacy, including the Athletes’ Village rehabilitation of the West Don Lands, now home to George Brown College first student residence, YMCA, low-income housing, a new mixed-used vibrant neighbourhood
- Worked closely with the Canadian Olympic Committee and the Canadian Paralympic Committee and established good working relationship with 42 participating countries, hosting numerous events in various languages, and
- Led Ontario’s largest volunteer recruitment focused on diversity
As Minister of Labour, Charles spearheaded the:
- Passage of Occupational Health and Safety Statute to create a Chief Prevention Officer Amended Fire Protection and Prevention Act supporting firefighters’ retirement and fair representation
- He oversaw the Workplace Safety and Insurance Board (WSIB), one of the largest compensation boards in North America. During that time Charles worked closely with the executive team to restructure and manage operations that effectively eliminated $14 billion in unfunded liability, almost 10 years ahead of the legislated deadline.
- Also negotiated with the City of Toronto to implement TTC’s essential service labour agreement
BUSINESS CAREER
Before being elected as a federal Member of Parliament in December 2022, Charles spearheaded multiple real-estate development projects, supported a mergers & acquisitions firm in the UK and lead a variety of consulting contracts in the financial services industry.
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Charles was a director at Wealth One Bank of Canada as a member of the governance conduct human resources committee and chaired the stakeholder relations committee. He was a director on the board of IC Savings credit union and was a senior advisor to Loyalist Public Affairs, a boutique government relations and strategic communications firm. He is engaged in a number of new ventures, including healthcare technology and fin-tech start-ups.
As chair of Magellan Community Charities, he also helped in the establishment of a new multi-million dollar LTC & housing complex.
Prior to entering public service, Charles worked for over 20 years at RBC Royal Bank in commercial banking. He also participated in special assignments involving the strategic integration of RBC’s acquisition of Dominion Securities and provided stakeholder engagement during the proposed merger between RBC and BMO.
During his time at RBC Royal Bank, between 1987 to 2007, Charles worked primarily in commercial lending. As Director, Commercial Markets he lead a team of account managers & business development officers and managed a major book of commercial & business banking clients, including lending and cash management services. As Director, Government & Consumer Affairs Charles was engaged in the bank merger discussions at the federal level and led stakeholder relations. One of Charles lasting legacies at RBC is the production of the bank’s first public accountability statement in its annual reports. As National Manager, Marketing RBC Dominion Securities Charles was instrumental in building synergies among separate corporate divisions and cultures. He enhanced market share by facilitating the strategic integration of both RBC DS retail investment advisors and RBC private banking to promote cross referral business.
Charles joined RBC after selling Lift Finance Inc., a business he owned and operated to provide asset based lending and factoring services to small businesses.
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Charles was a director at Wealth One Bank of Canada as a member of the governance conduct human resources committee and chaired the stakeholder relations committee. He was a director on the board of IC Savings credit union and was a senior advisor to Loyalist Public Affairs, a boutique government relations and strategic communications firm. He is engaged in a number of new ventures, including healthcare technology and fin-tech start-ups.
As chair of Magellan Community Charities, he also helped in the establishment of a new multi-million dollar LTC & housing complex.
Prior to entering public service, Charles worked for over 20 years at RBC Royal Bank in commercial banking. He also participated in special assignments involving the strategic integration of RBC’s acquisition of Dominion Securities and provided stakeholder engagement during the proposed merger between RBC and BMO.
During his time at RBC Royal Bank, between 1987 to 2007, Charles worked primarily in commercial lending. As Director, Commercial Markets he lead a team of account managers & business development officers and managed a major book of commercial & business banking clients, including lending and cash management services. As Director, Government & Consumer Affairs Charles was engaged in the bank merger discussions at the federal level and led stakeholder relations. One of Charles lasting legacies at RBC is the production of the bank’s first public accountability statement in its annual reports. As National Manager, Marketing RBC Dominion Securities Charles was instrumental in building synergies among separate corporate divisions and cultures. He enhanced market share by facilitating the strategic integration of both RBC DS retail investment advisors and RBC private banking to promote cross referral business.
Charles joined RBC after selling Lift Finance Inc., a business he owned and operated to provide asset based lending and factoring services to small businesses.
COMMUNITY
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Charles Sousa supports the community through his extensive work, having been on the Canadian University Dubai, Board of Governors and Academic committee, Wealth Simple Foundation and as chair of Magellan Community Charities.
Charles has been active since he was first elected to the Ontario Legislature in 2007 and served three terms, spanning over a decade, as Member Provincial Parliament for Mississauga South. Upon taking office, Charles pushed for the revitalization of Mississauga’s waterfront and the protection of its sensitive air shed. Those efforts paid off when he announced that Lakeview would never again host a mega-emitting power generator. He continued to fight hard for the community when it was also announced that no new gas-fired power plant would be built in Clarkson or Cooksville. Charles’ efforts lead to the signing of a memorandum of understanding between the province and city to work together on a shared vision for the future of the Lakeview lands. |
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Charles secured that position in his multiple budgets with an additional 67 acres of protected waterfront property to the community. He also included substantive funding to remediate the Rattray Marsh conservation area. And, as result of these efforts emissions were reduced and there have now been no smog days in the area.
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As a young boy growing up in the area, Charles envisioned a day when there would be public access and a view of the lake at Lakeview. That dream is now becoming a reality. The remediation of over 250 acres of industrial lands will help to turn the area into a vibrant mix use destination. It will create a new conservation area with greater natural habitat and wet lands along our shores.
Charles was also instrumental in implementing Mississauga Food Bank’s hub & spoke model. He led a popular Holiday Turkey Drive providing meals and donations to many families. In fact, his constituency office helped many people navigate the system to source supports for those most vulnerable in our community. Charles is also a strong supporter of local arts, culture and entertainment where he provided annual funding to our music festivals, museums and parades. He introduced Ontario’s first Music Fund and secured ongoing support for the Film Industry. Charles also approved the necessary funding for a new 500 bed hospital expansion. Charles very worked closely with Trillium Health Partners on many projects, including building a new fracture clinic at Mississauga Hospital and Credit Valley Hospital's ambulatory care unit to improve health services in our community. |
Charles authorized the full funding of the Light Rail Transit system along the spine of Hurontario to ease congestion. He long advocated for increased parking at the GO hubs and increased frequency of the GO rail lines. These infrastructure improvements to public transit continue to help the local economy while reducing cars on our roads.
Charles, his wife Zenny and their three children continue to make south Mississauga their home. It is why he is so passionate about protecting the heritage of our waterfront communities for generations to come.
Charles, his wife Zenny and their three children continue to make south Mississauga their home. It is why he is so passionate about protecting the heritage of our waterfront communities for generations to come.
COMPANY & COMMUNITY BOARDS / COMMITTEES
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Business / Boards
Director, Wealth One Bank of Canada | 2021 – 2022 Director, IC Savings Credit Union | 2021 – 2022 Chair, Magellan Community Charities (LTC & Affordable Housing) | 2018 – 2022 Senior Advisor, Loyalist Public Affairs | 2021– 2022 Advisor, Lobo Genetics Inc. (healthcare technology venture) | 2018 – 2020 Associate, Valorem Insights Group (consulting) | 2019 – 2022 Academia Director, Board of Trustees, Canadian University Dubai | 2019 – 2022 Community Based Advisor, Wealth Simple Foundation | 2019 - 2022 Ambassador, Peel Children’s Aid Foundation | 2018 - 2021 Honorary President, Luso Canadian Charitable Society | 2017 - 2021 Member, Lakeview Advisory Group – Waterfront Redevelopment | 2008 - 2017 Member, Clarkson Airshed Advisory Committee Member | 2007 - 2010 Member, Port Credit Advisory Group – Transit Development | 2007 - 2010 Member, Petro Canada/Suncor Public Liaison Committee | 2007 - 2010 Ambassador, Credit Valley Hospital Foundation | 2006 Chair, Rainbow Ball Foundation | 2005 - 2007 Chamber of Commerce President, Federation of Portuguese Canadian Business and Professionals | 1998 – 2006 Vice Chair, European Union Chamber of Commerce in Toronto (EUCOCIT) | 2002 – 2005 Director, America Canada Chamber of Commerce | 2002 – 2005 Member, Canadian Chamber of Commerce | 2002 – 2006 Member, Toronto Board of Trade | 2002 – 2006 Government Member of Parliament, Canada | Dec 2022 – current Minister of Finance, Ontario | Jan 2013 – Jun 2018 Chair of Co-operative Capital Markets Regulatory System | Jan 2016 – Jun 2018 Chair of Management Board & President of Treasury Board | Feb 2013 - Oct 2014 Minister of Citizenship & Immigration | Oct 2011 – Dec 2013 Minister responsible for 2015 Pan/Parapan Am Games | Oct 2011 – Dec 2013 Minister of Labour | Dec 2010 – Oct 2011 Parliamentary Assistant, Ministry Economic Development & Trade | 2008 – 2010 Parliamentary Assistant, Ministry Government & Consumer Services | 2007 – 2009 Committees and Parliamentary Associations Government Operations and Estimates Committee National Defense Committee Science and Research Committee Canada Europe Association Canadian NATO Association Canada-United States Inter Parliamentary Group |
AWARDS
Mississauga PCC Community Spirt Award Winner | 2018
Inducted into the Portuguese Canadian Walk of Fame | 2017 Nobleman rank to the Order of Confraria Port Wines | 2015 50 Most Influential People by Toronto Life Magazine | 2014 Queen's Diamond Jubilee Medal | 2012 Order of Portugal, as Commander to the Order of Merit | 2009 Queen's Golden Jubilee Medal | 2003 |
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ENDORSEMENTS
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"Charles is a strong leader who delivers for our community. He does his homework and gets things done. He has fought hard to protect our waterfront, expand our hospitals, and enhance public transit."
- Hazel McCallion "Charles worked on a community advisory board and was extremely valuable and fantastic to work with."
- John Kozak "Charles understands the value of the arts and culture, which is why he has consistently invested in local festivals like Southside Shuffle. He knows that not only do festivals like these bring our community together, but they attract more visitors to Port Credit and contribute to the local economy."
- Chuck Jackson |
"At RBC, Charles was a leader and an innovative thinker. He showed the type of dedication needed to succeed."
- Lynda Mckoy "Charles has worked hard to support the local business community. He has taken concrete steps to grow the economy and create jobs. He has lowered our taxes, and his support programs for small business have helped us hire more people."
- Pat Anderson "Charles' support for music and the arts has helped us grow into the vibrant community that we are."
- Patti Jannetta |
"I have always admired his skills and business talents. It's clear that Charles cares about the community and always believes in giving back."
- Mark Healy "Charles is a man who I trust implicitly. His leadership and work in the community has been incredibly positive and well received."
- Alex Gregory "Charles is a compassionate supporter of people who need help. He looks out for everybody. He has expanded free prescription drugs to seniors, and created a new $750 Healthy Homes Grant. Thousands more long-term care beds will also help seniors in Mississauga-Lakeshore and across the province."
- Dr. Boyd Upper |
IN THE NEWS
Business Ventures
* Announcement — Former Ontario Finance Minister Charles Sousa joins Loyalist Public Affairs as Senior Advisor
* https://business.financialpost.com/cannabis/former-ontario-finance-minister-is-latest-politician-to-join-the-cannabis-industry
* https://magellancommunitycharities.ca
Speeches
* https://www.empireclub.org/past-speakers/honourable-charles-sousa-ontarios-minister-finance/
* https://m.youtube.com/watch?reload=9&v=AlGUBcAvAYU
Finance Minister
* https://www.theglobeandmail.com/amp/news/politics/ontario-finance-minister-charles-sousa-calm-collected/article11589216/
* https://www.mississauga.com/news-story/3132345-finance-minister-charles-sousa-concedes-the-job-won-t-be-easy/
Immigration Strategy
* https://www.therecord.com/community-story/3124284-sousa-introduces-immigration-strategy/
Regulatory Affairs
* https://o.canada.com/uncategorized/federal-government-two-provinces-to-co-operate-on-securities-regulator
* https://www.theglobeandmail.com/amp/news/national/ontario-to-ease-regulations-on-financial-startups/article36873205/
CPP Enhancement
* www.cbc.ca/amp/1.3644738
* https://globalnews.ca/video/2775538/ontario-finance-minister-charles-sousa-comments-on-cpp-reform
Community
* https://torontolife.com/city/toronto-most-influential-2014/
* https://www.mississauga.com/news-story/4231528-most-influential-3-charles-sousa/
* https://portuguesecanadianwalkoffame.com/portfolio-item/charles-sousa/
* Announcement — Former Ontario Finance Minister Charles Sousa joins Loyalist Public Affairs as Senior Advisor
* https://business.financialpost.com/cannabis/former-ontario-finance-minister-is-latest-politician-to-join-the-cannabis-industry
* https://magellancommunitycharities.ca
Speeches
* https://www.empireclub.org/past-speakers/honourable-charles-sousa-ontarios-minister-finance/
* https://m.youtube.com/watch?reload=9&v=AlGUBcAvAYU
Finance Minister
* https://www.theglobeandmail.com/amp/news/politics/ontario-finance-minister-charles-sousa-calm-collected/article11589216/
* https://www.mississauga.com/news-story/3132345-finance-minister-charles-sousa-concedes-the-job-won-t-be-easy/
Immigration Strategy
* https://www.therecord.com/community-story/3124284-sousa-introduces-immigration-strategy/
Regulatory Affairs
* https://o.canada.com/uncategorized/federal-government-two-provinces-to-co-operate-on-securities-regulator
* https://www.theglobeandmail.com/amp/news/national/ontario-to-ease-regulations-on-financial-startups/article36873205/
CPP Enhancement
* www.cbc.ca/amp/1.3644738
* https://globalnews.ca/video/2775538/ontario-finance-minister-charles-sousa-comments-on-cpp-reform
Community
* https://torontolife.com/city/toronto-most-influential-2014/
* https://www.mississauga.com/news-story/4231528-most-influential-3-charles-sousa/
* https://portuguesecanadianwalkoffame.com/portfolio-item/charles-sousa/