Friday, 12 February 2016
Last updated 1 hour ago
Feb 28 2012 | 1:13pm ET
Mark Wiseman will replace David Denison as CEO of the Canada Pension Plan Investment Board.
Wiseman, the current head of investments at the CPPIB, will take up his new post at the end of June.
Denison, who has been CEO since 2005, had a lengthy career in financial services prior to assuming his CPPIB position, having worked at firms such as Merrill Lynch, Midland Walwyn and Mercer Consulting. Before joining CPPIB he was president of Fidelity Investments Canada.
His tenure at CPPIB was marked by an increase in active investment, reports the Globe & Mail.
“David Denison’s leadership has been exceptional in managing the assets of the CPP on behalf of 18 million Canadians while fostering a culture capable of undertaking the largest and most complex transactions in the world,” Robert Astley, the chair of CPPIB’s board, said in a press release.
“His successor, Mark Wiseman, has been instrumental in helping to shape and execute CPPIB's strategy over the last seven years, consistently demonstrating deep knowledge of our business and culture,” Mr. Astley added. “We undertook a deliberate process, determined to select a successor who would continue to provide outstanding leadership. The board unanimously agreed Mark Wiseman was the ideal choice."
Wiseman joined the CPPIB in the summer of 2005 from the Ontario Teachers’ Pension Plan.