CPPIB promotes Wiseman to CEO

CPPIB’s private investments chief Mark Wiseman will take over as chief executive following the retirement of David Denison in June. Wiseman joined CPPIB from the Ontario Teachers’ Pension Plan in 2005.

The Canada Pension Plan Investment Board (CPPIB) has named Mark Wiseman president and chief executive officer following the retirement of CPPIB president and chief executive 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 infrastructure, private equity, public equity and real estate. 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 (OTPP).

“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 chief executive 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.