The Canada Pension Plan Investment Board is shuffling its top brass, bolstering its management team amid ongoing succession planning efforts.
The country's largest pension fund said Wednesday that it will replace retiring chief financial officer Benita Warmbold later this month with a new recruit from outside the pension world.
Neil Beaumont will join CPPIB as CFO, senior managing director and chief risk officer. The pension fund said in a statement that his expanded role would reflect its focus on risk management.
Mr. Beaumont will move to Toronto for the position, coming from a posting in Chile where he was most recently vice-president of finance for BHP Billiton's Minerals Americas division. He's a Canadian who went to the University of Saskatchewan and previously worked for KPMG in Edmonton and Saskatoon.
The move follows other changes to CPPIB's executive team slowly being rolled out by CEO Mark Machin, who said in a statement that the appointments are a testament to the fund's talent pool "and reflect our succession planning and ability to recruit top talent to support the growth and evolution of the CPP Fund."
CPPIB is also moving Ed Cass into the role of senior managing director and global head of real assets, where he will have responsibility for real estate, infrastructure and agricultural investments. The position was created last year, when these asset classes were grouped together.
Mr. Cass formerly served as the fund's chief investment strategist and has been with CPPIB since 2008. In that time he has led several businesses within the public market investment department, including overseeing the global capital markets, corporate securities and tactical asset allocation groups. Prior to that, he held senior positions with Deutsche Bank Canada and TD Securities.
Mr. Cass will replace Graeme Eadie, who brought a deep well of experience in real estate to the job, having held executive positions for Cadillac Fairview in the past, among other firms. Mr. Eadie will stay on with CPPIB in a general management role, paying special focus to investment approval processes.
At the same time, Geoffrey Rubin takes over for Mr. Cass as chief investment strategist, joining the fund's senior management team. Mr. Rubin previously had a responsibility for portfolio construction and research. A replacement for this position has yet to be named. Mr. Rubin joined CPPIB in 2011 and has a background in economics and finance, having worked at Fannie Mae and Capital One Financial in the past.