Caisse de dépôt et placement du Québec is reorganizing its senior leadership as new chief executive officer Charles Emond faces a nearly unprecedented test to preserve the pension fund giant’s assets amid the coronavirus crisis.
Among the changes being made, Macky Tall, a senior executive who joined the Caisse in 2004, will lead a new business unit called Real Assets and Private Equity, created to increase the organization’s impact in those sectors, the pension fund said in a statement Thursday. He will lead teams responsible for infrastructure, international private equity, financing solutions and global research, the Caisse said.
Mr. Tall was among the final candidates this year to replace departing CEO Michael Sabia, but Mr. Emond was chosen instead, sparking speculation that Mr. Tall would leave the organization. He stayed and his responsibilities have been shifted. He will also serve as chairman of Ivanhoé Cambridge, the Caisse’s real estate unit.
The Caisse has also named Helen Beck to executive vice-president and head of equity markets. Kim Thomassin, who was serving as executive vice-president of legal affairs, will now lead the pension fund’s Quebec investments and stewardship investment. Finally, chief economist Martin Coiteux takes on an expanded mandate as head of the global strategy team.
“In only a few weeks, the world as we know it has transformed,” Mr. Emond said in a statement. “With these appointments and changes to our structure, we can fully leverage the talent of our people. Regrouping our teams within strong business units will increase our efficiency and ability to seize more opportunities.”
The Caisse, which operates under a dual mandate to promote Quebec’s economic development while earning the best possible returns, announced last month that it stands ready to pump up to $4-billion into Quebec businesses affected by the COVID-19 pandemic. It had $340-billion in assets under management as of Dec. 31.
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