Gordon J. Fyfe was named CEO/chief investment officer of the C$114 billion (US$105.3 billion) British Columbia Investment Management Corp., Victoria, effective July 7, BCIMC said in a statement Friday.
Mr. Fyfe succeeds Doug Pearce, CEO and chief investment officer, who announced last August he would retire this year after leading BCIMC since 1988.
Mr. Fyfe is president and CEO of the C$95 billion Public Sector Pension Investment Board, Montreal, which oversees investments for the Royal Canadian Mounted Police, Canadian Armed Forces and Reserve Force.
Mr. Fyfe couldn’t be reached for comment.
Korn/Ferry International assisted in the search for candidates.
Mark Boutet, PSPIB vice president, communications and government relations, couldn’t be reached for comment on what search process the board will use to replace Mr. Fyfe and how his duties will be handled in the interim.
“This appointment also allows me to return to my hometown of Victoria, and I look forward to working with the entire BCIMC team in delivering strong long-term returns for our clients in British Columbia,” Mr. Fyfe said in the statement.
Under Mr. Pearce, BCIMC’s assets under management grew twelvefold from C$9.5 billion.
During his tenure, Mr. Pearce combined BCIMC’s long-term investment philosophy with integration of environmental, social and governance factors into investment decisions, the statement said.
Mr. Fyfe is chairman of the Center for Alternative Investment of the Goizuetz Business School, Emory University, Atlanta.