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The Canada Pension Plan Investment Board has named Mark Wiseman to take the reins as president once current president and CEO David Denison retires in June. Wiseman is currently CPPIB’s executive vice-president of investments. Denison, who oversaw investment decisions of the fund responsible for the pensions of some 18 million Canadians, will retire June 30.

“David Denison’s leadership has been exceptional in managing the assets of the CPP,” said Robert M. Astley, chair of CPPIB’s board of directors. “He has developed a talented team dedicated to CPPIB’s purpose while placing an uncompromising premium on integrity.”

Denison advised the board of directors in 2009 of his intention to retire in 2012, triggering a long-term succession plan that puts Wiseman at the helm.

“Mark Wiseman has been instrumental in helping to shape and execute CPPIB’s strategy over the last seven years, consistently demonstrating deep knowledge of our business and culture,” said Astley. “We undertook a deliberate process, determined to select a successor who would continue to provide outstanding leadership. The board unanimously agreed Mark Wiseman was the ideal choice.”

Wiseman, age 41, joined CPPIB in June 2005 after a senior leadership role at the Ontario Teachers’ Pension Plan. He has also served as officer with Harrowston Inc., a publicly traded Canadian merchant bank, and as a lawyer with Sullivan & Cromwell, practicing in New York and Paris.

“It is a distinct honour to have been selected to lead this institution and to succeed an extraordinary leader like David Denison,” said Wiseman. “I am committed to driving our existing culture focused on integrity, partnership and high performance, while carefully listening to and diligently serving our stakeholders. And, I look forward to taking the helm at a time when CPPIB is playing an increasingly important role globally, investing in order to ensure the long-term growth and sustainability of the CPP Reserve Fund.”

© Copyright 2014 Rogers Publishing Ltd. Originally published on benefitscanada.com

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