Three Executives to Exit CPPIB
The Canada Pension Plan Investment Board (CPPIB) announced a few executive departures. Graeme McAllister Eadie, Global Head of Real Assets at CPPIB, is retiring effective March 31, 2018. Eadie announced he was stepping back from the rule back in July 2007. Eadie plans to stay on as an advisor. Next, Eric M. Wetlaufer, Senior Managing Director & Global Head of Public Market Investments at CPPIB, is retiring effective May 31, 2018 after almost seven years with the organization. Wetlaufer was a former executive at Fidelity Investments before CPPIB.
Last, Nick Zelenczuk, Senior Managing Director & Chief Operations Officer at CPPIB, will retire from CPPIB effective May 31, 2018. Zelenczuk spent 9 years at CPPIB.
“Planned renewal of senior management is both necessary and healthy for all organizations, and CPPIB is well-positioned to ensure an orderly transition for these important senior leadership roles,” said CPPIB President Mark Machin in a press release.
He added, “Through this renewal, we are able to benefit from appointing some new leaders who will inject fresh perspectives, experiences and ideas to the organization just as we look ahead to an exciting future.”
Increasingly asset owners across the Asia-Pacific region are studying the impacts of environmental, social, and governance factors on listed companies. As more Japanese pensions augment asset allocation to listed equities, the importance of corporate non-financial disclosures and practices becomes clear. These disclosures can have a material impression on company stock prices. In addition, Japanʼs Stewardship Code and Corporate Governance Code in 2014 and 2015 were launched, respectively. These codes helped the (environmental, social, and governance) ESG concept gain momentum in Japan.
Japan’s Government Pension Investment Fund (GPIF), the largest public pension fund in the world, awarded a research mandate to Nissay Asset Management Corporation. The mandate entails studying ESG disclosures. The study will conduct a comparable analysis on ESG standards and practices, while taking into account input from both investors and companies. With around US$ 110.5 billion in assets under management, Nissay Asset Management is owned by Japanese life insurance giant Nippon Life Insurance Company.
As GPIF boosted its allocation to domestic equities, the asset owner took a deeper look into the impact of ESG on equity investing. GPIF is keen on improving efficiencies in Japan’s capital markets. GPIF is a universal owner of stocks, similar in some aspects to what Norway’s Government Pension Fund Global (GPFG) does.
Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management (oversees Norway Global Pension Fund Global), has signed an agreement to acquire a 100 percent interest in an office property located on 54-56 rue la Boétie in central Paris.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Russia’s sovereign wealth fund, the Russian Direct Investment Fund, and American oilfield services giant Schlumberger (SLB) have planned a deal to invest in Russia’s Eurasia Drilling Company Limited. RDIF CEO Kirill Dmitriev made the announcement. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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