TORONTO — The investment manager for Canada's national retirement fund has named Edwin Cass as its first-ever chief investment officer, a position that's being created to reflect the growing size of its fund.
Cass will report to Mark Machin, the president and chief executive of the Canada Pension Plan Investment Board.
Machin says the fund is on track to more than double its size to about $1 trillion by 2033 and the time is right for its management structure to evolve.
Cass joined the company in 2008. He was chief investment strategist from 2014 to 2017 and was global head of real assets before to his appointment as chief investment officer.
The new global head of real assets is Deborah Orida, who will oversee investments in energy and resources, infrastructure, power and renewable energy, and real estate.
As of June 30, the CPP Fund was worth $434.4 billion after rising 5.6 per cent or $22.7 billion since March 31 when its 2019-20 financial year ended.
This report by The Canadian Press was first published Sept. 9, 2020.
The Canadian Press