Building Ontario Fund Welcomes Two New Directors to the Board


June 13, 2024

TORONTO — The Building Ontario Fund (BOF) Chair, Brian J. Porter, is pleased to welcome the appointment of Arshil Jamal and Constance L. Sugiyama to the BOF Board of Directors. These appointments represent additional steps in enhancing the governance of the arm’s-length, board-governed agency.

“We are delighted to announce the appointment of Arshil Jamal and Constance L. Sugiyama to the Board of Directors,” said Chair Brian J. Porter. “They bring invaluable insights into governance and leadership with their extensive backgrounds in the financial industry and as seasoned board directors. I look forward to leveraging their expertise as we continue to advance the Building Ontario Fund’s mandate to support the financing and building of critical infrastructure projects in Ontario.”


Arshil Jamal

Arshil Jamal recently retired from his role as a senior life insurance and asset management executive after 34 years in the industry, including 26 years with his last employer. The Canada Life Assurance Company, a wholly owned subsidiary of Great-West Lifeco Inc., is a leading Canadian based publicly traded multi-national insurer with a market capitalization of approximately $40 billion. He has a breadth of experience in functional roles and in operational roles including most recently as President and Group Head, Strategy, Investments, Reinsurance and Corporate Development.

Arshil has a deep knowledge of the Canadian, US, UK, Irish and German life, pension and asset management markets as well as the global reinsurance industry.  He has served as a group executive director on the Boards of various companies including Irish Life where he was the Chair of the Board. He also served as a non-executive director of Allianz Ireland, a leading Irish based general insurer.

Arshil has an undergraduate degree from the University of Toronto and a graduate degree from the Richard Ivey School of Business at the University of Western Ontario.  He is a Fellow of the Canadian Institute of Actuaries and of the Society of Actuaries.

Constance L. Sugiyama

Constance L. Sugiyama, President of ConMark Strategy Inc., provides high level strategy advice to both the public and private sectors. Recognized as a trailblazer and leading counsel to domestic and international businesses on matters of corporate finance and mergers and acquisitions law, she now leverages her strengths in strategy, governance and risk management with her broad network, to focus on public service and corporate board work as well as advisory mandates.

Ms. Sugiyama is an experienced corporate director and board advisor. She currently serves as a director of the Mount Pleasant Group, as a member of the Advisory Committee of the Nova Scotia Health Authority’s Innovation Hub and as a strategy advisor to Serefin Health. Among her many board roles, she has served as a director and Vice Chair of the Ontario Financing Authority, as a director of the Gairdner Foundation, the Asia Pacific Foundation of Canada and was the first woman to chair the world-renowned Hospital for Sick Children. She was also a Distinguished Visiting Fellow at Toronto Metropolitan University (formerly Ryerson University). 

Ms. Sugiyama was appointed a Member of the Order of Canada in 2014 and received an honorary Doctor of Laws (LL.D. Honoris Causa) from the University of Western Ontario in 2015. She has been recognized for both professional excellence and leadership by University College (Alumna of Influence), Ascend Canada (Inaugural Lifetime Achievement Award), Women in Capital Markets (Leadership Award), the Women’s Executive Network (Canada’s Top 100 Most Powerful Women) and was recognized by the International Alliance for Women for her efforts in advancing the economic empowerment of women. In 2023, she received a Foreign Minister’s Commendation from the Government of Japan for her contributions to the promotion of friendship between Canada and Japan.

Recognized as an excellent communicator, Ms. Sugiyama is a much sought after speaker on a broad range of issues including corporate governance and ethics, board culture and effectiveness, enterprise risk management and workplace diversity and inclusion.  

Full biographies can also be found at


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