After six years living and working in Ottawa as RBC’s regional president for Ontario North and East, Marjolaine Hudon is leaving the city to take on the new role of president of Quebec for Canada’s largest bank.
She will be returning to her home city of Montreal, where she began her career, grew up and started her family. But she says she’ll never forget Ottawa and the valuable lessons she’s learned — and she believes the city is well-positioned for business growth.
“Ottawa has been very special and it will always have a very, very special place in my heart. I will definitely miss Ottawa. I keep saying Ottawa is a hidden gem,” said Hudon in an interview with OBJ Thursday. “Everybody thinks about Ottawa as a government town, but it’s so much more than that and it has so much potential and so much going for it. And I’ve learned and seen so much.”
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In her conversation with OBJ, Hudon shared her hopes for Ottawa’s future, her excitement at the “buzz” building in the city, and the biggest lessons she’s learned that she plans to carry with her.
This transcript has been edited for length and clarity.
What’s your perspective on business growth in Ottawa?
In Ottawa, in terms of growth overall, I find there’s a buzz. I find there’s this momentum in Ottawa. Just look at the excitement that was created with the new owners of the Senators. We have entrepreneurs, people like Michael Andlauer, coming from Toronto to invest in Ottawa. I think that’s creating a bit of a wave. Everybody is lifted by that wave. There’s a positive buzz.
Ottawa’s a hidden gem. There’s so much going for it. I’ve discovered cross-country skiing, cycling … There are universities as well and entrepreneurs that could be anywhere in the world but decide to live in Ottawa, invest in Ottawa, create jobs in Ottawa. This is part of that excitement there: how people are prepared to lean in and support.
I feel encouraged by what I see. Do you see that it has this domino effect? Ottawa has a lot going for it, making this a beautiful city. We cannot give up. We need to continue and charge ahead.
As businesses grapple with rising costs and loan repayments, do you feel they might be seeing a light at the end of the tunnel? Are you seeing your clients starting to recover?
There is definitely more hope. I love to see the team working side by side with our entrepreneurs, the best thing that we could do is exactly that. It’s all about, “Let’s talk and see how we can help.” I love the communication that is going on and I definitely find this encouraging.
What is your view on the climate for small business in Ottawa?
Small business is really the backbone of our economy. There’s no doubt about it. They create jobs, drive innovation and foster economic growth as well. So it’s truly critical. There is no doubt about it.
But let’s be realistic. It’s very, very challenging. It’s tough to be an entrepreneur. It takes a lot of courage and creativity. It’s been challenging for small businesses over the last few years, but I’m very pleased to see that they didn’t give up and I’m pleased to see that more entrepreneurs are jumping in as well, despite knowing that it’s going to be challenging.
I also love to see how the community supports them. It’s the community overall, but it’s also successful entrepreneurs that understand the challenges and they jump in, sharing their expertise, sometimes with a little bit of money and funds. They care and they realize the importance of it.
A lot of people could have just given up. But I love to see that people are still creating small businesses and the community is encouraging them, which I find encouraging overall.
What have you learned here that has prepared you for your new role?
The importance of calculated risk
First, the bank asked me to move to Calgary with my three daughters and my husband. My husband had to leave his job to move to Calgary. The three kids were on the kitchen floor crying, thinking that that was the worst thing that was happening to them.
But we knew that it was the right thing to do. And then again, when we were asked to move to Ottawa six years ago, it was a big thing. This time, the girls were not on the kitchen floor. But it was another big change. But my husband and I kind of knew the right thing to do and because we’ve taken that calculated risk, we’ve discovered Ottawa and we’ve developed some beautiful friendships and because of that, here I am. So for me, it was about trusting the organization and taking a calculated risk.
We all have to take some calculated risk at one point. But if we don’t take those risks, we don’t know what we’re going to miss, right? It’s uncomfortable, but that’s how you grow.
The role of community
We live in a very, very, very complex world. But we can all help in our own way. Everybody can help a little bit and contribute to making this a better world. At the end, it will make a difference.
That’s kind of the approach we’ve taken over the last six years with the team: “Let’s go and help.” We work for a beautiful, big, successful organization and with that comes a responsibility to help. You could talk about small businesses and how they’ve come through some tough times. Let’s go and help.
I’m very proud of that. That’s how we worked over the last six years and even before that, too. It just confirmed that it’s the right approach and if we can all do a little bit of helping each other, that’s going to make a difference.
In good times and in challenging times, we’ve supported the community, not just with cheques and donations, but sharing our expertise and sharing our time. I’m extremely proud of the team and how we’ve been able to help over the last six years.
The value of authenticity
You can’t go and help if you don’t honestly, genuinely care. We need to lead with our hearts and we need to be ourselves to do that.
I always said for a long time that I didn’t feel like I was a banker. I felt different because I don’t speak like everybody; English is not my first language. But at one point, if we just go and be ourselves, be authentic and care and go with our hearts and want to help … it does make a difference.
I am who I am. And it looks like people appreciated that. If we are authentic and true to ourselves, it’s going to make a difference and people are going to notice and, again, it’s going to contribute to making this a better community overall.
I think the lesson here is that, regardless of where you come from, regardless of the language you speak, just be yourself and people will see that and will appreciate that.
How are you feeling heading into your new role?
It’s very special to come back home where I started. And it will be exciting to lead the entire province. At the moment, I lead more than just a team in Ottawa; it’s a team of about 2,000 people and now going to a team of 4,000, it’s a similar role at a bigger impact. It’s a big vote of confidence and I’m just thrilled, there’s no doubt about it.
When we arrived in Ottawa, we didn’t know anybody. That’s one thing that Ottawa has going for it, too. It’s a very welcoming community. They’ve welcomed us with open arms and it was very, very special for us. It’s been a true pleasure, but I’m not going to be too far, because two daughters are still in Ottawa for university. So I’ll still be around, from time to time.
