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The CPP Investment Board deepened its management team Monday by brining aboard Benita Warmbold as the new chief operation officer at the $123-billion fund.
Ms. Warmbold comes over from the CFO slot at Northwater Capital Management, an employee-owned money manager with $8.5-billion in assets that's bogged down in the ABCP debacle, and facing competitive challenges now federal restrictions have been abolished on foreign investments by pension funds.
With Ms. Warmbold arrival, the CPPIB has split its top administrative jobs. The fund, which counts as one of the largest pools of capital on the planet, used to combine the duties of COO and chief financial officer, with Myra Libenson doing both jobs. She is now focused on finance as the CFO. Both COO and CFO report to David Denison, who joined CPPIB as president and CEO three years ago from the top ranks of Fidelity Investments.
In an unrelated move, the CPPIB recently bid farewell to a senior portfolio manager in its global corporate securities team, as John Durfy moved to become managing director of global equities at the $52-billion OMERS pension fund. This move was first reported on Bill's Buzz, the blog run by executive search firm Vlaad and Co.
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