The Public Sector Pension Investment Board has appointed Neil Cunningham as president and chief executive officer.
Cunningham joined the Montreal-based pension fund in June 2004 as vice-president of real estate investments. He became senior vice-president and global head of real estate in 2015 and took on oversight of the natural resources team in 2016.
“Neil Cunningham has been a key player in PSP Investments’ evolution, both as an investor and as a senior executive,” said Martin Glynn, chair designate of the board, in a news release.
“He has played a key role in developing and implementing the organization’s current strategic plan and possesses a deep understanding of the business, mandate and stakeholders of PSP Investments.”
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Prior to joining PSP Investments, Cunningham held various real estate investment positions at Merrill Lynch, Brazos Advisors Canada, National Bank of Canada and Coopers & Lybrand, which is now PricewaterhouseCoopers.
“I am delighted and honoured to have been selected by the board to lead PSP Investments,” said Cunningham.
“Our organization is a leader in pension investment management, and its position and importance will continue to grow. I am looking forward to this exciting challenge of taking PSP Investments to the next level. Together with the senior management team and the many skilled, dedicated professionals across the organization, I am confident that we will continue to achieve our ambitious goals and satisfy our mandate.”
Outgoing president and chief executive officer André Bourbonnais will be joining BlackRock Inc. after three years in the role. During that time, PSP Investments restructured its private equity group, created a private debt asset class, opened offices in New York and London, England, and closed the fiscal year ending Mar. 31, 2017, with a net return of 12.8 per cent.