The Canada Infrastructure Bank has found its inaugural chief executive officer in Pierre Lavallée, a former senior executive at the Canada Pension Plan Investment Board.
“With an exceptional combination of investment and public-sector expertise, Pierre is well placed to set the strategic course and direction of Canada Infrastructure Bank and develop a high-performing management team,” said Janice Fukakusa, chair of the bank’s board of directors, in a press release.
Lavallée joined the CPPIB in 2012 and was most recently a senior managing director and its global head of investment partnerships. His first day with the bank will be June 18, 2018.
Read: 2017 Top 40 Money Managers Report: A look at the Canada Infrastructure Bank
The bank will be looking to build strong relationships with domestic pension plans, says Lavallée. “Canadian pension funds are going to be very important to us delivering on the mission of the Canada Infrastructure Bank.
“I know one of them quite intimately,” he adds. “As a result, I have some knowledge of many of the others, though not all. And so, I look forward to really building a broad network of partners among Canadian pension plans.”
Following Lavallée’s appointment, interim chief investment officer Bruno Guilmette will return to the board of directors. “I wish to sincerely thank Bruno for his leadership in building up the investment and advisory capabilities of Canada Infrastructure Bank,” said Fukakusa. “He has set a solid foundation for further advancing the bank’s internal capacity for its investing, advisory and data roles.”
With its key leaders now in place, the bank noted it will continue building the team, systems and processes it needs to fulfill its mandate as a Crown corporation, making investments in and advising on revenue-generating infrastructure projects.
Read: Global investors turn to infrastructure, real estate as interest rates normalize: report