Bill Morneau

William Francis Morneau Jr. (born October 7, 1962) is a Canadian businessman and former Liberal Party politician who served as minister of finance and member of Parliament (MP) for Toronto Centre from 2015 to 2020.

Morneau was executive chairman of the company founded by his father, and Canada's largest human resources firm, Morneau Shepell (now TELUS Health), and the former chair of the C. D. Howe Institute.

He was also the chair of the board at St. Michael's Hospital, and Covenant House.

Morneau holds a bachelor of arts (BA) degree from the University of Western Ontario, a master of business administration degree (MBA) from INSEAD, and a master's degree in economics from the London School of Economics.

Bill Morneau's father, Frank Morneau, founded the actuarial and benefit consulting firm W.F. Morneau & Associates in 1966.

Morneau was born in Toronto at St. Joseph's Health Centre and attended Senator O'Connor College School.

From 1981 to 1986, Morneau attended the University of Western Ontario and completed an Honours BA as an undergraduate, he spent one year at the University of Grenoble in France.

He then earned an MBA from INSEAD.

Morneau eventually went on to earn an master of science (MSc) in economics from the London School of Economics.

He lives in Toronto with his wife Nancy McCain, a member of the New Brunswick family which owns McCain Foods, and has four children—Henry, Clare, Edward and Grace.

Morneau joined the company in 1990, and two years later was given the role of president.

In 1992, the firm bought the Canadian actuarial consulting businesses of Coopers & Lybrand, followed by the 1997 acquisition of Sobeco, a large Quebec-based pension and benefit businesses, from Ernst & Young.

As executive chair of Morneau Shepell, Morneau led the firm through a period of growth from a few hundred people in 1992 to almost 4000 employees in 2015 - becoming the largest Canadian human resources services organization, with offices across North America.

In 1997, Morneau replaced his father as CEO.

In the years when Morneau ran the firm, the company absorbed competitors across Canada as it grew to become the nation's biggest player in the sector.

Morneau also served as the chair of Covenant House (1997–2000), and chair of the C.D. Howe Institute (2010–2014).

In 1998, Morneau also acquired the Canadian pension consulting practice of Deloitte & Touche.

Under his leadership the firm went through several significant changes, including going public on the Toronto Stock Exchange in 2005.

Morneau Shepell provides over 20,000 organizations representing millions of Canadians with pension, employee benefit, and employee assistance programs.

In 2008, Morneau's firm also bought Shepell FGI—a group that helped companies provide mental health and emotional counselling to employees—and changed its name to Morneau Shepell.

He has served as a board member for the Loran Scholars Foundation (2008—2015), the Art Gallery of Ontario Foundation (2004–2011), the Canadian Opera Company (2001–2010), Greenwood College (2012–2015), the Toronto Zoo Foundation (2000–2004), and several others.

Morneau was chair of the board at St. Michael's Hospital from 2009 to 2013, and as a board member from 2003 to 2013.

Grace is originally from Northern Uganda, and the couple sponsored her to join their family in 2010.

Morneau and his wife have made significant donations to international development programs.

This has included the founding of a school for refugee girls in Kakuma refugee camp, and the creation of a scholarship program for refugee girls at the University of Toronto.

Bill Morneau had demonstrated an interest in business and entrepreneurship from a young age.

At 17, Morneau and a friend started a business servicing swimming pools for homeowners, mostly in the Toronto neighbourhood of Don Mills.

Morneau ran the business for four years, helping him pay a good part of his university tuition.

W.F. Morneau & Associates was an actuarial and benefits consulting firm; Morneau's father, Frank, founded the company and was the CEO.

In 2010, Morneau began leading an initiative with the UNHCR to open a secondary school for refugee girls in Kakuma refugee camp, Kenya.

Morneau is the co-author of The Real Retirement, an analysis of the context and the factors involved in helping Canadians plan for a successful retirement originally published in 2012 with Frederick Vettese, as well a book on his time in officeWhere to From Here: A Path to Canadian Prosperity.

He has also served on the board of St. Michael's Hospital Foundation (2013–2015).

Opened in 2014, today the school is home to 352 girls, representing 15 per cent of the total secondary school female enrolment in the Kakuma Camp.

Morneau was elected to the House of Commons in the 2015 election and was immediately appointed finance minister by Prime Minister Justin Trudeau.

As finance minister, Morneau expanded the Canada Pension Plan, introduced the Canada Child Benefit, and oversaw government aid during the first five months of the COVID-19 pandemic.

Morneau resigned as finance minister and MP in August 2020 in the wake of the WE Charity scandal.

Morneau has since cited disagreements with Trudeau as the reason for his resignation.

Morneau currently serves on the Board of Directors for CIBC, and has authored a book on his time in office, Where To From Here: A Path to Canadian Prosperity.

Morneau's parents are William Francis "Frank" Morneau Sr. who came from Walkerville, Windsor, Ontario, and Helen (Lynch) Morneau, who came from Adjala Township, Alliston, Ontario.

Their families had deep roots in both areas.