Douglas Guzman, a Toronto banker and former associate of Prime Minister Mark Carney, has been appointed to oversee defence contracting with a salary of $679,100, making him cabinet's highest-paid appointee and earning twice the finance minister's pay.

Guzman was appointed CEO of the Defence Investment Agency in October, a new division Carney created within Public Works to overhaul military contracting. Guzman expressed pride in serving Canada during this important time.

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Guzman's salary, revealed in yesterday's public cabinet orders, went uncommented on by the Prime Minister's Office when questioned about its justification, according to Blacklock’s.

• $292,200 Comptroller General @TBS_Canada
• $309,700 Minister @FinanceCanada
• $420,600 Deputy Minister @FinanceCanada
• $420,600 Clerk @PrivyCouncilCA
• $458,100 president @bdc_ca
• $544,800 Governor @bankofcanada
• $550,600 CEO @ExportDevCanada
• $562,700 CEO… https://t.co/JExIj2WjYu

— Blacklock's Reporter (@mindingottawa) October 8, 2025

Guzman, Carney's former Goldman Sachs associate, praised Carney in 2007 and 2008 Globe & Mail interviews as an athletic, academic, and business success who "ran the marathon" and "wants to get the right answer."

Guzman, the new CEO, earns an annual salary of $697,100, making him the highest-paid cabinet appointee and public office holder under the Conflict Of Interest Act. Other appointee salaries are lower, including the Clerk of Privy Council and Deputy Finance Minister ($420,600).

This follows the questionable appointment of Michael Sabia, a former World Economic Forum associate to Carney, as the Clerk of the Privy Council, citing his extensive public and private sector experience. 

The Clerk of the Privy Council serves as the head of the federal public service and is also secretary to the cabinet, an advisory role to the prime minister and elected officials.

Sabia, as deputy finance minister, controversially enforced the 2022 bank account freeze on Freedom Convoy protesters, later deemed unlawful by a 2024 judge.

Carney hires WEF buddy as top federal bureaucrat

Prime Minister Carney appointed former WEF associate Michael Sabia as Clerk of the Privy Council. Sabia enforced the 2022 bank account freeze on Freedom Convoy protestors, subsequently ruled unlawful.https://t.co/VrqQsB75Rq

— Rebel News Canada (@RebelNews_CA) June 12, 2025

Despite Carney's promises to cut spending, his government awarded high salaries to connected bureaucrats. 

He stated on June 11 that "Canada's new government is focused on best value for taxpayer dollars.... We are running a process to review our programs ... to focus on results for Canadians, not dollars in."

The pledge included a 7.5% cut in operational spending for 2026, referenced in follow-up remarks, as part of a comprehensive spending review.

“This government does have fiscal anchors,” Carney said September 17. “We are going to spend less.”

“We are getting spending under control,” Carney said October 1. “That is why we are going to spend less and invest more. I believe in this country.”