The Board of Directors of the Public Sector Pension Investment Board (PSP Investments) has named Neil Cunningham, PSP Investments’ SVP and Global Head of Real Estate and Natural Resources, as its new President & CEO, effective immediately.
André Bourbonnais, the outgoing President & CEO, has advised the board of his decision to depart PSP Investments to join BlackRock later this year to lead a new initiative within BlackRock Alternative Investors.
Bourbonnais joined PSP Investment from Canada Pension Plan Investment Board (CPPIB) in March 2015. Bourbonnais will be rejoining Mark Wiseman, his former boss at CPPIB. Wiseman resigned as President & CEO of CPPIB in May 2016 to become BlackRock’s Global Head of Active Equities and Chairman of BlackRock Alternative Investors.
Cunningham joined PSP Investments in June 2004 as Vice President, Real Estate Investments, and was named Senior Vice President, Global Head of Real Estate in 2015. In December 2016, Cunningham also took on oversight of PSP Investments’ Natural Resources team.
Cunningham spent four years with Merrill Lynch Real Estate Finance Group as Québec Regional Manager and before that was Senior Vice President at Brazos Advisors Canada for four years. From 1988 to 1996, he held various positions at National Bank of Canada and was at Coopers & Lybrand from 1983 to 1988.
“Neil Cunningham has been a key player in PSP Investments’ evolution, both as an investor and as a senior executive. He has played a key role in developing and implementing the organization’s current strategic plan, and possesses a deep understanding of the business, mandate and stakeholders of PSP Investments. This extensive experience, along with Neil’s consistent demonstration of the core values of the enterprise, makes him the natural and ideal next leader of PSP Investments,” said Martin Glynn, Chair Designate of the Board.
“I am delighted and honoured to have been selected by the Board to lead PSP Investments,” said Cunningham. “Our organization is a leader in pension investment management and its position and importance will continue to grow. I am looking forward to this exciting challenge of taking PSP Investments to the next level. Together with the senior management team and the many skilled, dedicated professionals across the organization, I am confident that we will continue to achieve our ambitious goals and satisfy our mandate.”
“André had a very positive impact on PSP Investments during his time as President and CEO. His leadership and focused commitment made it a unique pleasure to work alongside him for the last three years. We wish him every success as he pursues his next challenges and look forward to Neil continuing the important initiatives underway at PSP Investments,” said Glynn.
“Making the decision to leave the leadership role of PSP Investments was a difficult one. I am very proud of what we accomplished here together, thanks to the great professionals with whom I have had the pleasure of working with and the continued support of the Board of Directors. PSP Investments is an extraordinary organization, a leading global institutional investor best positioned to take advantage of the opportunities ahead as it creates value for its contributors and beneficiaries,” said Bourbonnais.
photo credit: PSP Investment