Memo To Mark Machin?
Andrew Willis of the Globe and Mail wrote a tongue-in-cheek comment, Memo to Mark Machin: Here's Your To-Do List at CPPIB : After 11 years at Canada Pension Plan Investment Board, CEO Mark Wiseman is handing the reins to the fund’s head of Asian investments, Mark Machin, effective June 13. The changing of the guard at the $279-billion fund comes as federal and provincial finance ministers prepare to gather in Vancouver later in June for talks aimed at enhancing CPP coverage. Against that backdrop, here’s the note Mr. Wiseman should leave for his successor: To: Mark #2 From: Mark #1 Subject: CPPIB handover Welcome to the top of the mountain! Well, the top of the heap in Canada. We both know I’m heading to the Mount Everest of funds at BlackRock, where they measure assets in trillions, not mere billions. You’re probably arrived with a fancy 100-day plan for shaping CPPIB in your own image. I’ve got two pieces of advice that I humbly suggest will determine your succe