The Canada Pension Plan Investment Boardhas named Mark Wiseman president and chief executive officer following the retirement of CPPIB president and CEO David Denison on 30 June, 2012.
Wiseman has acted as executive vice president of investments at CPPIB since 2010, overseeing all of the pension’s investment programmes, including private equity, public equity, real estate and infrastructure. He has reportedly taken a keen interest in growing the state fund's stature and exposure in Asia, in particular.
He was promoted to the newly created position, reporting directly to Denison, from the role of senior vice president of investments. Wiseman joined CPPIB in 2005 from the private equity arm of the Ontario Teacher’s Pension Plan.
“I can think of no one better suited and able to lead this great institution through its next stage of growth and evolution,” Denison said in a statement. Wiseman’s promotion marks just the second time CPPIB’s CEO has been replaced since the organisation’s creation as an act of parliament in 1997.
Prior to working at OTPP, Wiseman was an officer with publicly traded Canadian merchant bank Harrowston, a lawyer with Sullivan & Cromwell in New York and Paris and a former law clerk in the Supreme Court of Canada.
CPPIB’s private equity portfolio decreased in value by about 1 percent during the quarter ending 31 December, 2011, falling to C$25 billion (€18.9 billion; $24.9 billion), the first decrease since early 2009. At the end of the 2011, CPPIB’s entire portfolio was valued at C$152.8 billion.