No change of strategy expected at CPPIB, says incoming CEO Mark Machin

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Incoming CPP Investment Board CEO Mark Machin poses following a press announcement in their Toronto office

The incoming chief executive of the Canada Pension Plan Investment Board says there will be no change in strategic direction when he takes over next month from Mark Wiseman, the high-profile executive who is leaving after just four years at the helm.

Mark Machin, a veteran of Goldman Sachs who joined CPPIB four years ago to oversee international investment activities, will be the first non-Canadian to lead the organization that invest funds not needed to pay current Canada Pension Plan benefits.

“There’s going to be absolutely no change on strategic direction,” said Machin, a 49-year-old British citizen whose two decades at Goldman Sachs included a six-year stint running the global bank’s investment banking division in Asia, excluding Japan.

“We’ve spent a lot of time as a team here [at CPPIB] over the last four years developing a strategy and a vision for where we want to take the organization out to 2020, and that’s something we developed as a team and are going to continue to execute on as a team,” Machin said.

He acknowledged that his management style is not likely to be the same as Wiseman’s.

“We’re different people, so I’m sure we’ll have slightly different personal styles,” he said.

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  • Bhauja 16 / 03 / 2017 Reply

    He had A8o and drawing useless.

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