(January 8, 2014) – The Canada Pension Plan Investment Board’s (CPPIB) chief investment strategist has resigned to join the private sector.
Donald Raymond, a 13-year veteran of the C$193 billion fund, will be joining private investment outfit Alignvest Management Corporation, according to CPPIB. Raymond will hold the CIO position at the Toronto-based firm.
No replacement has been named, but CPPIB does have a tendency to promote from within.
“A process is well underway to identify Mr. Raymond's successor, with a view to ensuring a seamless transition in advance of Mr. Raymond's departure date,” CPPIB said. “An announcement will be made in due course.”
Raymond’s resignation marks the third top leadership position to turnover at CPPIB in the last six weeks.
In late November, its CFO and COO swapped jobs, and there was further shake-up at the managing director level.
Raymond’s resignation is effective March 31.
He called his tenure at CPPIB “a privilege,” and said he shares tremendous pride in its achievements. “In its relatively short existence, CPPIB has earned a stellar reputation within the global institutional investment community and with policymakers all over the world."
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