OTTAWA — Justin Trudeau will unveil a cabinet filled with new faces, casting aside some experienced Liberals and some star candidates in his first move as prime minister on Wednesday.

New MPs such as Toronto Centre’s Bill Morneau and Markham-Stouffville’s Jane Philpott will become new cabinet ministers, while star candidates such as retired Lt.-Gen. Andrew Leslie and Toronto MP Adam Vaughan didn’t make the cut.

Morneau, a multimillionaire known on Bay Street, is expected to become the country’s new finance minister, according to several sources. Morneau was executive chairman of Morneau Shepell, Canada’s largest human resources companies, which also administered pension and benefits plans. He is a former chair of St. Michael’s Hospital and of the C.D. Howe Institute.



New Finance Minister Bill Morneau. (Photo: Marta Iwanek/CP)

Philpott, a family doctor, will be the new health minister. She is a former chair of the...