Real Estate Fund

The Board of Directors of the Fonds immobilier de solidarité FTQ is composed of a majority of independent directors from the real estate industry who have no affiliation with either the Fonds de solidarité FTQ, the FTQ or its affiliated unions.

Principal aspects of the Board’s mandate: 

  • Ensure respect of the Fonds immobilier de solidarité FTQ’s mission at all times, as stated in its incorporating Act (Loi consitutant le Fonds de solidarité des travailleurs du Québec (F.T.Q.))
  • Sign off on the Fonds immobilier de solidarité FTQ’s strategic business directions;
  • Sign off on investment recommendations within its ambit; 
  • Ensure that as an investor, the Fonds de solidarité FTQ conducts itself as a socially responsible organization;
  • Regularly evaluate the Fonds immobilier de solidarité FTQ’s performance through the Audit Committee and the Governance and Ethics Committee.  

* Independent members with no affiliation with either the Fonds de solidarité FTQ, the FTQ or its affiliated unions. 
    • Jean-Claude Scraire *

      Jean-Claude Scraire *


      Jean-Claude Scraire is an independant consultant in strategic development. Since 2002, he has worked for different organizations and businesses in Asia, Europe and Québec.

      Mr. Scraire previously worked for 22 years at the Caisse de dépôt et placement du Québec where he served as Chairman of the Board and Chief Executive Officer from 1995 to 2002. He also held various positions in Québec public administration from 1974 to 1981, including at the Ministère de la Justice.

      Committed to economic development and strongly believing in the importance of entrepreneurship while respecting the local communities, Jean-Claude Scraire has recently chaired the board of directors of Investissement Québec and the Fondation de l’entrepreneurship.

      Member of the Barreau du Québec since 1970, Mr. Scraire is also a member of the Fondation de l’entrepreneurship and the University Club.

    • Serge Cadieux

      Serge Cadieux


      Serge Cadieux has been actively involved in the labour movement both in the private and public sectors since 1979. He is currently secretary general of the Fédération des travailleurs et travailleuses du Québec (FTQ).

      Mr. Cadieux’s first exposure to the labour movement was as a student working evenings in a garage whose employees were members of the United Autoworkers Union (UAW), now called Unifor. In May 1983, he joined the Canadian Office and Professional Employees Union (COPE) as a union advisor. He subsequently held various positions before becoming its executive director in 2004. Since 2007 he has also been national president and vice-president of the Canadian Labour Congress.

      In addition to representing the FTQ on the Comité consultatif du travail et de la main-d’œuvre (CCTM) since 2009, Mr. Cadieux sits on the boards of the Commission de la santé et de la sécurité du travail (CSST) and the Institut de recherche Robert-Sauvé en santé et en sécurité du travail.

      Serge Cadieux holds a Bachelor of Law from Université du Québec à Montréal and was admitted to the Barreau du Québec in 1992. He also holds a diploma in industrial relations and occupational health and safety from Université de Montréal.

    • Renaud Gagné

      Renaud Gagné

      Renaud Gagné is the Québec director of Unifor, Québec’s largest private sector union.

      Mr. Gagné’s career in the labour movement began in 1984, when he became a union representative. Over the next 23 years, he built extensive bargaining experience in the pulp and paper and wood processing industries. In 2007, he was elected Vice-President (Quebec Region) of the Communications, Energy and Paperworkers Union of Canada. During his tenure, he was confronted with many situations that called for innovative solutions in order to protect jobs, working conditions and pension funds. He also steered complex dossiers involving companies subject to the Companies' Creditors Arrangement Act and made numerous representations before the Québec government during the reform of the province’s forestry regime. Upon the founding of Unifor in 2013, Mr. Gagné was appointed Assistant to the Quebec Director.

      Mr. Gagné holds a mechanical manufacturing technician diploma. He has been a Board member of Solifor, a forestry asset management firm, since 2009.

    • Denis Labrèche *

      Denis Labrèche *

      Denis Labrèche has over 30 years’ experience in business valuation, financial disputes and M&As in various industries. As a partner at Ernst & Young from 1978 to 2011, he was involved in key mandates and transactions and was frequently called to give expert testimony. He was also tasked with many venture capital mandates for the Government of Québec, Caisse de dépôt et placement du Québec and Société générale de financement du Québec. He also acted as financial advisor to large organizations including Provigo, Métro, Rona, Bell Canada and the Canadian Red Cross.

      Very active throughout his career, Mr. Labrèche has given speeches, led countless seminars on business valuation and financing and written articles on the topic for the business magazine Commerce and the La Presse newspaper.

      Mr. Labrèche has served on the boards of the Canadian Institute of Chartered Business Valuators and of Réseau Capital.

      Denis Labrèche is a Chartered Business Valuator (CBV – 1984) and a Chartered Accountant who made the prestigious Honour Roll of the Chartered Accountants 1978 Uniform Exam (UFE).

    • Michel M. Lessard *

      Michel M. Lessard *

      Michel M. Lessard is a corporate director and president of Sogexfi Inc., a management and financial consultancy that he founded in October 1986. In this role, he helps secure funding for processing, services and real estate companies.

      Before founding Sogexfi, he was president and CEO of Crédit Foncier, where he worked for 17 years. Over the years, Mr. Lessard has sat on the boards of many private and public companies, as well as non-profits.

      A director of the Montreal Port Authority since 2007, Mr. Lessard has chaired its Board and governance and HR committees since 2009. That same year, he became a member of the Fonds immobilier de solidarité FTQ Board and chair of its Audit Committee. In 2000, he became a member of the Fonds de solidarité FTQ’s sector board – Turnaround, Special Projects and Controlling Interests.

      Michel Lessard holds a master’s degree in business science from Université Laval and an MBA from Harvard Business School.

    • Gaétan Morin

      Gaétan Morin

      Gaétan Morin has been President and Chief Executive Officer of the Fonds de solidarité FTQ since 2014. A member of the Fonds team since 1989, Mr. Morin held a variety of roles in the organization before becoming president, including Executive Vice-President, Corporate Development and Investment, Senior Vice-President, Natural Resources and Consumer Goods, Investment Director, Portfolio Manager and Financial Adviser.

      Before joining the Fonds, Mr. Morin worked in business financing for various securities brokers, including Pemberton Securities and Saumier Morrisson et associés. Prior to this, he served as Project Manager for a number of mining companies and for the Ministère des Ressources naturelles du Québec.

      Gaétan Morin sits on the boards of the Fonds de solidarité FTQ, SSQ Financial Group, the Fondation de l’entrepreneurship and the Cercle des présidents du Québec. In 2005, he was awarded the Prix Mérite Ressources by the Ordre des géologues du Québec.

      He holds a bachelor’s degree in finance and geology, as well as a master’s degree in economic geology from the Université du Québec à Montréal (UQAM).

    • René Roy

      René Roy

      René Roy’s career in the labour movement began in the late 1970s. He has since acquired a wealth of experience in bargaining and conflict management. He was actively involved in the Fédération des travailleurs et travailleuses du Québec (FTQ), helping to set up the Fonds des solidarité FTQ in 1983.

      In 1979 Mr. Roy became director of the Communications, Energy and Paperworkers Union of Canada (CEP), and from 1998 to 2010 held the position of secretary general of the FTQ.

      He chairs the new economy sector board of the Fonds de solidarité FTQ and the decision-making board of the Fonds immobilier de solidarité FTQ. Mr. Roy also sits on the boards of Investissement Québec and FIER Longueuil. Until 2010, he served on the boards of Université du Québec à Montréal and the Commission des partenaires du marché du travail, of which he is a member.

      Holder of a diploma in electrical technology, he became a Certified Industrial Relations Counsellor (CRIA) in 1984.

    • Julie Salvail*

      Julie Salvail*

      A lawyer by training, Julie Salvail has over 15 years’ experience in the real estate field and almost as many heading corporate legal affairs departments. She is currently Director of Legal Affairs at McMahon Distributeur pharmaceutique, a subsidiary of Metro Richelieu.
      Ms. Salvail began her career at SITQ as an advisor before moving to FPI Alexis Nihon to head its legal affairs department. She also worked in Fraser Milner Casgrain’s real estate division, after which she went on to head the legal affairs department of BUSAC Immobilier and then of Magil Laurentian.

      Julie Salvail is a regular panellist at real estate conferences. In 2013, she was named one of the eight most influential women in real estate by the magazine Premières en affaires and in 2011 was a finalist for the Rising Star prize, awarded by CREW M, an association that promotes and pays tribute to the excellence of women in commercial real estate. 

      Holder of a law degree from Université de Montréal, Ms. Salvail earned a diploma in introduction to French law  from Université de Poitiers and is a member in good standing of the Barreau du Québec. She also holds a specialized graduate diploma (D.E.S.S.) in management from HEC Montréal.  

    • Yvon Tessier *

      Yvon Tessier *

      Yvon Tessier is a corporate director with 40 years of real estate experience in appraisals, brokerage, mortgages and institutional investments. In this role, he has carried out many consulting mandates for large companies.

      During his career, Mr. Tessier has held, among others, the position of senior vice-president (investments) at SITQ Immobilier, regional manager (mortgage investments) at Great West Life and vice-president (investments) at Fiducie Marcil, today RBC Real Estate Group. He also co-founded the brokerage firm Hypmor.

      Yvon Tessier has been a member of the Risk Management Committee and Board of Directors of Otéra Capital since 2011. He also serves on the committee of the Maestro Fund, a fund that invests in seniors’ residences, and on the Board and Audit Committee of the Fonds immobilier de solidarité FTQ.

      Yvon Tessier studied at Ottawa University’s Faculty of Business and obtained the designation of certified corporate director (ASC) from Université Laval in 2008. He is a member of the Ordre professionnel des évaluateurs du Québec and of the Appraisers Institute of Canada.