Mark Wiseman was named Tuesday as the new president and CEO of the C$152.8 billion (US$152.9 billion) Canada Pension Plan Investment Board, Toronto, confirmed spokeswoman Linda Sims.
Mr. Wiseman will replace David Denison, who is retiring on June 30. Mr. Wiseman was executive vice president, investments, at the CPPIB. The position will not be filled, Ms. Sims said.
Mr. Denison advised the board of directors in June 2009 of his intent to retire this year, according to a news release.
Messrs. Denison and Wiseman both started at the CPPIB in 2005. Mr. Denison launched the CPPIB’s active investment approach, putting in place a professional team, internal capabilities and sophisticated systems that led to global investments across several public and private asset classes that have significantly contributed to the fund’s growth, according to a news release. Mr. Wiseman is currently responsible for the pension fund’s overall global investment programs. He previously worked at the C$107.5 billion Ontario Teachers’ Pension Plan in a senior leadership role responsible for the private equity fund and co-investment program.
“I am committed to driving our existing culture focused on integrity, partnership and high performance, while carefully listening to and diligently serving our stakeholders,” Mr. Wiseman said in the release. “And I look forward to taking the helm at a time when CPPIB is playing an increasingly important role globally, investing in order to ensure the long-term growth and sustainability.” Ms. Sims said Messrs. Denison and Wiseman were not available for an interview.