British Columbia pension funds pick new executive director

Claude Marchessault was named executive director of the British Columbia Teachers' Pension Plan, College Pension Plan and Public Service Pension plan, all of Victoria, said Corina De Guire, spokeswoman for the plans.

Mr. Marchessault replaces Bruce Kennedy, who retired.

He began in his new position on March 1, said Ms. De Guire.

Mr. Marchessault was an attorney in the pension, benefits and executive compensation group at the law firm of Dentons Canada.

Investments of the plans, which have a combined C$54.8 billion ($40.9 billion) in assets, are managed by the C$121.9 billion British Columbia Investment Management Corp., Victoria, but the plans' boards establish each plan's asset allocation and investment policy.