Pension Funds

Canada Pension Plan makes changes to heads of real assets, portfolio construction

Edwin D. Cass was named senior managing director and global head of real assets at the Canada Pension Plan Investment Board, Toronto.

The appointment is effective July 15, said spokesman Dan Madge.

Mr. Cass will replace Graeme Eadie, who will remain senior managing director and "will continue to work with CPPIB in a general management role with a focus on the investment approval processes," said Mr. Madge.

The board, which oversees the C$316.7 billion ($238.6 billion) in assets of the Canada Pension Plan, Ottawa, had a 23.1% allocation to real assets as of March 31.

Mr. Cass was chief investment strategist at the board. He will be replaced by Geoffrey Rubin, who was managing director, head of portfolio construction and research. Mr. Rubin's position will be filled "in due course," Mr. Madge said.

Separately, Neil Beaumont was named senior managing director and chief financial and risk officer at the board, effective July 24. Mr. Beaumont replaces Benita Warmbold, who will retire on Aug 31. Mr. Beaumont was vice president, finance minerals America, at BHP Billiton.