Montreal-based Bombardier Inc. announced Monday that David Coleal will take over as president of Bombardier Business Aircraft effective June 15, 2015.Bombardier president and CEO Alain Bellemare says Coleal will succeed Eric Martel, who is leaving the company after 13 years to pursue other career opportunities.Before joining Bombardier in 2008, Coleal was president and chief operating officer of Cirrus Design Corporation, and has held management positions at McKinsey and Company, Caterpillar and New United Motor Manufacturing.Quebec says it won’t ‘abandon’ Bombardier Inc amid restructuringBombardier Inc to slash 1,750 jobs as demand for business jets divesWhy Bombardier Inc’s new head of commercial aircraft wants the world to meet the CSeries — againBombardier — a manufacturer of planes and trains — also announced Monday that it has hired procurement expert Jean-Paul Pellissier as a special adviser to conduct an extensive review of its supply chain.Last week, Bombardier announced that it was cutting 1,750 employees in Montreal, Toronto and Ireland over the coming months — a move expected to save about U$135 million a year.Up to 1,000 of the lost jobs will be in Montreal, where Bombardier has its main operations, while 480 positions are on the chopping block in Toronto and another 280 in Belfast.The cuts will begin in June and continue until the first quarter of 2016, said the company, which employs more than 70,000 people, about half in its aerospace division. read more

TORONTO — Sun Life Financial Inc. says it has signed a deal to merge its Bentall Kennedy real estate and property management firm with GreenOak Real Estate, a global real estate investment firm.The new company will be called Bentall GreenOak and be part of Sun Life Investment Management.The agreement will see Sun Life Financial contribute its interest in Bentall Kennedy and pay GreenOak shareholders $195 million in cash in exchange for a 56 per cent stake in the new firm, while GreenOak shareholders will hold the remaining interest.Sun Life will also acquire the right to a portion of the GreenOak shareholders’ share of Bentall GreenOak net income in exchange for a fixed amount to be paid in quarterly instalments.The insurer will also have an option to acquire the remaining interest in Bentall GreenOak approximately seven years from the closing.Senior management of the new firm will include executives from both Bentall Kennedy and GreenOak. read more