Mark Wiseman has been named as a director and the chair of the Alberta Investment Management Corp.’s board of directors, effective July 1, 2020.

Wiseman will replace current chair Richard Bird, who will be completing his second three-year term on the AIMCo’s board. In order to ensure a smooth transition, Bird will be staying on as a consultant to the board for the transition period at a salary of $1.

“On behalf of my fellow directors, I welcome Mark Wiseman to AIMCo’s board,” said Bird, in a press release. “Mark’s accomplishments in investment management, his strategic thinking and leadership make him an excellent choice to chair this board.”

Wiseman was formerly president and chief executive officer of the Canada Pension Plan Investment Board, a role which he held until 2016. He then served as the global head of active equities for BlackRock, Inc. and chairman of BlackRock Alternative Investors. He also chaired BlackRock’s global investment committee and sat on its global executive committee. Wiseman worked at BlackRock until 2019.

“I look forward to working with my fellow directors as AIMCo continues to serve its clients for the long term,” said Wiseman. “I, along with members of the board and employees of AIMCo, would like to thank Richard for his service to the province during his two three-year terms. He has offered a steady and experienced hand in guiding the organization’s strong governance and investment decision-making.”