The logo of the Canadian Pension Plan Investment Board (CPPIB), pictured in their Toronto office August 5, 2010.Mark Blinch/Reuters
The Canada Pension Plan Investment Board has a new top investment strategist, pulled from within the fund: Ed Cass has been appointed senior vice-president and chief investment strategist, effective April 1.
Mr. Cass, who joined CPPIB in 2008, will take the role from Donald Raymond, who announced in January that he is stepping down to join Alignvest Management Corp. after serving nearly four years in his position at CPPIB.
According to a release, Mr. Cass will assume responsibility for overall fund level investment strategy and will also chair the Investment Planning Committee – "which approves all new investment programs and oversees all portfolio risks, including passive, active, credit and liquidity risks."
At the end of the third quarter, in 2013, the CPP Fund had nearly $193-billion in assets, up about $22-billion year-over-year, distributed among public equities, private equities, real estate, infrastructure and fixed income.
It is becoming increasingly focused on the world beyond Canadian markets: It has offices around the world, and just this week opened an office in Sao Paulo, Brazil. More than 63 per cent of its investments are in assets outside Canada – with Canadian equities accounting for just 8.4 per cent of its holdings.
Mr. Cass has been at CPPIB since 2008. Prior to that, he was managing director and co-chief investment officer for Fortress Investment Group's Drawbridge Relative Value Fund. He has also worked at Deutsche Bank Canada and TD Securities.
David Berman