Canada Infrastructure Bank taps its first CEO

Pierre Lavallee was named president and CEO of the Canada Infrastructure Bank, effective June 18.

He will be the first chief executive at CIB, which was created by the Canadian government to facilitate private-sector and institutional investment for revenue-generating infrastructure projects, according to a news release from the bank. The Canadian government will invest C$35 billion ($27.3 billion) in the bank.

Mr. Lavallee was senior managing director and global head of investment partnerships at the C$356.1 billion Canada Pension Plan Investment Board, Toronto. He left CPPIB on May 2.

CPPIB spokesmen could not immediately be reached for information on his replacement.