Mark Machin will replace Mark Wiseman’s role as president and chief executive officer of the Canada Pension Plan Investment Board on June 13.
Since 2012, Machin has led the pension plan’s investment activities abroad as senior managing director and head of international at the Canadian Pension Plan Investment Board. Prior to joining CPPIB, he had a 20-year career at Goldman Sachs, where most recently he was based in Beijing.
“Mark Machin has been instrumental in helping to shape and execute CPPIB’s strategy over the last four years, consistently demonstrating deep knowledge of our business, understanding of global opportunities and a commitment to our unique mandate and culture,” said Heather Munroe-Blum, chair of the board of directors, in a news release.
“Following a thorough process, the board unanimously agreed that Mark Machin was the ideal choice to lead the organization through the next chapter of its mandate.”
Wiseman, who has been with the organization for 11 years and has served as its leader since 2012, will be taking a senior leadership role at BlackRock.
“Leaving CPPIB was an extremely difficult decision and one that I deliberated over very carefully,” said Wiseman. “I have every confidence in the senior management team and will watch with pride the successful delivery of CPPIB’s long-term global strategy.
“The opportunity to serve CPPIB for over a decade has been a great privilege. It will remain one of the greatest highlights of my career.”
Wiseman will cede his duties to Machin in June but will stay as a senior advisor to the board of directors until Sept. 5 in order to support the transition.