(CNW Group/CIBC Mellon)

CIBC Mellon has appointed former Canada Pension Plan Investment Board managing director Karen Rowe as its new chief financial officer.

At the CPPIB, Rowe was managing director and head of investment finance and led a team responsible for aspects of the organization’s global private investment portfolio, including finance, valuation and operations.

In her new role at CIBC Mellon, Rowe replaces Duncan Webb, who’s retiring.

Read: CPPIB makes several executive appointments

“Karen is a welcome addition to the company, and she brings a deep understanding of the financial services industry, particularly in the area of Canadian pensions and private markets,” said Steven Wolff, president and chief executive officer of CIBC Mellon, in a news release.

“We are excited to have Karen join CIBC Mellon’s strong and dynamic leadership team. She is highly qualified with the skills and experience to manage our continued financial growth.”

In addition to her prior role at the CPPIB, Rowe previously held other positions at CIBC. “CIBC Mellon is well-regarded by institutional investors as Canada’s leader in asset servicing, and I am proud to join the company and support its financial management,” said Rowe.

“I am looking forward to contributing to CIBC Mellon’s strong operational execution, service excellence and continuous improvement.”

Read: Three senior executives set to leave CPPIB

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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