Adam Waterous

Adam Waterous is a visionary leader and entrepreneur who has made a profound impact on the energy sector and community development in Canada. As the CEO of Waterous Energy Fund, Adam has steered his firm to remarkable success. Since its inception in 2017, Waterous Energy Fund has built from scratch Strathcona Resources Ltd. into Canada’s fifth-largest oil company. This remarkable growth, achieved through ten major investments and organic expansion, led Strathcona to surpass $4 billion in revenue, faster than any company in any sector in Canadian history.

Adam was born in Brantford, Ontario, and moved as a teenager to Toronto. Adam’s early years were shaped by his parents’ divorce and his mother’s struggle to raise four children on a modest income. His pursuit of education as a means to change his life trajectory led him to prestigious institutions and eventually to a successful career in finance and energy.

CAREER

Adam’s journey in the financial world began after earning an Honours Business Administration degree from Western University and an MBA from Harvard Business School, where he was designated a Baker Scholar for being in the top five percent of his class. His early career included roles in management consulting with McKinsey & Company and in mergers and acquisitions with First Boston Corporation. In 1991, he co-founded Waterous & Co., which was later acquired by Scotiabank, where he served as Global Head of Investment Banking and Head of Energy and Power North America.

"If you work hard and get a good education, you can invent your life. You don't have to be held back by anything if you live in Canada. This is a great country and the people who work hard and are well-educated, they're going to rise to the top."

Beyond his professional accomplishments, Adam has demonstrated a deep commitment to community service and environmental sustainability. He has been actively involved in numerous organizations ranging from industry, community, health, the arts, and education. His contributions have been recognized with several prestigious awards, including the Queen Elizabeth II Diamond Jubilee Medal in 2013 and the Queen Elizabeth II Platinum Jubilee Medal in 2022, alongside his wife, Jan, for their work in sustainable transportation in Banff, Alberta.

A passionate advocate for environmental conservation, Adam and Jan have lived in Banff since 1997, dedicating themselves to protecting Banff National Park and enhancing the visitor experience. Through their family company, Liricon Capital, they have spearheaded projects such as the Calgary Airport – Banff Rail project and the creation of the Eco-Transit Hub at the Banff Train Station. Their efforts also include acquiring and redeveloping the Norquay Ski and Sightseeing Resort to make it more environmentally and economically sustainable. Jan and Adam also founded the Banff National Park Net Zero 2035 initiative, aimed at transforming Banff into North America’s first net-zero emissions community.

Of this he said, "to be tenacious, you've got to really believe in the idea. You've got to think that it's really good for the community because if it's just for money, you'll give up because it's too hard."

WHAT I'VE LEARNED

"In my life, I've learned that the real measure of success isn’t in the results, but in the resilience to keep pushing forward when the path gets hard. Every setback is just an opportunity to find a better way to move ahead."

Adam and Jan’s approach to community service can be seen in their development of the Calgary Airport Banff Rail project. They have been advancing the project since 2015 when they realized that this obvious solution to congestion in the Bow Valley was not being advanced by government. When talking about his dedication to this cause, Adam said, "The easiest way to actually make a real difference is to take on a well-known problem when no one else has stepped up."

Adam and Jan have three sons who have also followed in their father’s footsteps, all working with him at Waterous Energy Fund.

Throughout Adam Waterous’s life, you can see the power of education and the importance of hard work. His contributions to the energy sector, environmental sustainability, and community development make him a deserving inductee into the Horatio Alger Association of Canada. Overcoming early challenges and achieving remarkable success, aligns perfectly with the Association’s mission of honouring those who rise above adversity through perseverance. His belief in the transformative power of education and tenacity highlights why he embodies the very values the Association celebrates.