CPCS appoints Adrian Lightstone and Hichame Selmaoui as partners
CPCS, an Ottawa-based infrastructure and transport sector management consultancy, has elevated two of its senior vice presidents – Adrian Lightstone and Hichame Selmaoui – to its partnership group.
The move will grow CPCS’ number of partners to eight.
The consultancy has had an employee-ownership model since its founding in 1996. Although CPCS partners hold more significant equity stakes than staff, they do not hold all of the company’s equity as in a traditional consulting firm partnership.
CPCS says that more than half of its workforce has shares in the company. Share ownership is part of the firm’s total compensation package, with strong performing and engaged team members being potentially offered equity. CPCS says shareholders realize an average 20% annual return on equity.
“Employee ownership strengthens our governance, deepens accountability, and ensures that the people shaping our decisions are the same people invested in their long‑term impact,” said Jean-François Arsenault, co-CEO of CPCS. “Adrian and Hichame’s presence at the partner table makes us stronger, more resilient, and more aligned in how we move forward as a firm.”
Adrian Lightstone has more than 15 years of experience in the architecture, engineering, and construction sector. He has expertise across due diligence studies, business case, financial and economic modelling, policy, and stakeholder engagement for major infrastructure projects.
Lightstone in 2021 joined CPCS as a managing director and has since 2024 served as SVP for advanced markets (North America and UK) – leading teams advising on transportation, intercity rail, transit, and freight projects.
Before joining CPCS, he was national manager for advisory services at WSP Canada, an economist at HDR, and a junior engineer at H.H. Angus & Associates.
Lightstone has a master’s degree in economics from the Royal Institute of Technology in Sweden and a bachelor’s degree in mechanical engineering from Queen’s University.
Hichame Selmaoui has 20+ years of professional experience focusing on infrastructure development in energy and transport. He has managed infrastructure projects financed by international organizations such as the World Bank, African Development Bank, and Asian Development Banks, as well as advised governments on strategic and technical aspects.
Selmaoui joined CPCS in 2013 as a senior consultant and has served as SVP for emerging markets since 2025 – leading transport and power infrastructure engagements, including major public-private partnership (PPP) agreements.
Before joining CPCS, Selmaoui held project director roles at Sofreco and the African Development Bank.
He has master’s degrees in economics from Paris-East Créteil University and The Sapienza University of Rome.
“Adrian and Hichame’s leadership, integrity, and commitment to our shared purpose embody what employee ownership is all about. When talented people are invested in the future of the firm, we strengthen our business and the culture that drives it,” said Marc-Andre Roy, co-CEO.
CPCS was founded in 1996 and provides consulting services for transport, energy, and major projects. The firm’s offerings include strategy, finance, technical, legal, transactions, economics, regulatory, and governance support.
CPCS has 300+ employees listed on LinkedIn and 11 offices across Canada, the US, Barbados, the UK, Ivory Coast, Senegal, and Uganda.
The firm earlier this year acquired Mille407, a France-based ports and maritime advisory firm.
