Canada Pension Plan Investment Board, Toronto, hired William Mercer as...

Canada Pension Plan Investment Board, Toronto, hired William Mercer as a consultant, said Janice Sharette, director of the transition team for the new organization. The CPP, set up as a "pay-as-you-go’’ system last October, will manage the revamped pension or social security plan of Canada. Mercer is "in the process of advising and helping the board select investment managers and a custodian,’’ Ms. Sharette said. The CPP will hire or appoint the managers by the end of February, at which time the plan will start receiving funds.