Jean Michel, who oversaw pension investments at Air Canada, was named executive vice president, advisory services to depositors and strategic analysis, at the Caisse de Depot et Placement du Quebec, Montreal, effective March 7.
Mr. Michel will replace Bernard Morency, who stepped down in February. Mr. Morency will remain at Caisse as a special adviser, said Maxime Chagnon, Caisse spokesman.
Mr. Michel will help oversee investment strategies at Caisse, working with Roland Lescure, executive vice president and chief investment officer, and Claude Bergeron, executive vice president and chief risk officer.
Also, Mr. Michel will manage relationships with clients at provincial public pension fund clients and other provincial agencies. Caisse manages C$248 billion ($180.1 billion) in assets for those clients.
Mr. Michel oversaw C$17.5 billion in assets as president, pension investments, at Air Canada, Montreal. Mr. Michel oversaw Air Canada's pension derisking strategy that led it to a surplus C$1.2 billion last May from a C$3.7 billion deficit at the start of 2013.
Isabelle Arthur, Air Canada spokeswoman, could not be immediately reached for information on Mr. Michel's replacement.
