Pension Funds

PSP Investments appoints new CIO

Eduard van Gelderen was named senior vice president and chief investment officer of the Ottawa-based Public Sector Pension Investment Board, said Maria Constantinescu, spokeswoman for the C$153 billion ($116.3 billion) pension fund.

Effective immediately, he replaces Daniel Garant, who left last year. Prior to Mr. van Gelderen's appointment, Darren Baccus, chief legal officer at PSP Investments, held interim CIO duties. Mr. Baccus has resumed his full-time role as chief legal officer.

Mr. van Gelderen leads PSP's total fund strategy group, responsible for overseeing the company's multiasset-class investment strategies and total fund allocations and exposures. He also oversees the responsible investment, government relations and public policy divisions. He reports to Neil Cunningham, president and CEO of PSP Investments, which manages the pension fund.

Mr. van Gelderen was senior managing director at the University of California Regents' office of the chief investment officer. He will not be replaced, according to a written statement from Jagdeep Singh Bachher, UC's CIO and vice president of investments. "His responsibilities will be assumed by internal teams," Mr. Bachher said earlier this month.

The investment office oversees the Oakland-based university system's $66.7 billion pension fund and $11.9 billion endowment.