Pension Pulse

Marie-Eve Fournier of La Presse reports that CDPQ's massive real estate subsidiary, Ivanhoé Cambridge, let go of roughly 60 people and 12 vice-presidents. The article is in French but I translated it below using Google and edited where necessary: The real estate subsidiary of la Caisse de dépôt et placement dismissed some sixty employees, including a large part of the team of vice-presidents responsible for shopping center management, La Presse has learned. Among the 57 people forced to leave Ivanhoé Cambridge, 12 occupied posts at the vice-presidency level, whether in Quebec or elsewhere. According to our information, the team of senior managers responsible for shopping centers (retail) therefore lost more than half of its members at once, since they were between 15 and 20. Spokeswoman Katherine Roux Groleau declined to specify everyone's position or identity, but the 12 VPs were "not all in the business unit of the malls," she said. Ivanhoé Cambridg...

Reno Bugiardini, HOOPP’s Senior VP, IT and Facilities Services, recently spoke with Business Chief magazine about HOOPP’s IT journey: When Reno Bugiardini and his colleagues reached the culmination of a sweeping, innovative three-year IT strategy at the end of 2019, the disruption and impact to countless industries worldwide as a result of the COVID-19 pandemic was still a way off. That plan, which aligned with the broader five-year strategic plan at Healthcare of Ontario Pension Plan (HOOPP), has driven vast change within the organisation. It was, says Bugiardini, based around three fundamental areas of focus: a cloud-first approach, adopting Agile working methods, and ‘flattening’, through the creation of teams aligned to business groups, a previously hierarchical structure. “Our goal has always been to ensure that we are the single point of contact for the business, and that all departments feel they can come to us with any of their priorities. This is helped by the fact ...

Sarah Rieger of CBC News reports former head of CPP, who was ousted from BlackRock, named chair of AIMCo: Mark Wiseman has been named chair of the Alberta Investment Management Corp. The former chief executive of the Canada Pension Plan Investment Board was ousted from BlackRock in December for violating the company's workplace relationship policy. His appointment will be effective July 1, AIMCo said in a press release on Friday evening. "Mark's accomplishments in investment management, his strategic thinking and leadership make him an excellent choice to chair this board," said outgoing chair Richard Bird in the release. Wiseman said in the release that he looks forward to working with his fellow directors, and AIMCo said Wiseman will be donating his compensation as chair to the United Way to assist communities across Alberta. In 2016, Wiseman left the CPP for BlackRock. He had been touted as a potential successor for the global investment compa...

Shawn Langlois of MarketWatch reports that investors could be looking at a ‘lost decade’ in the stock market, the world’s biggest hedge fund warns: ‘Even if overall profits recover, some companies will die or their shares will devalue along the way. Left with lower levels of profits and cash shortfalls, companies are likely to come out on the other side of the coronavirus more indebted.’ That’s part of the reason why Bridgewater Associates, the world’s biggest hedge fund, issued a warning to clients this week that equity investors could be facing a “lost decade” in terms of returns. “Globalization, perhaps the largest driver of developed world profitability over the past few decades, has already peaked,” Bridgewater said in a note obtained by Bloomberg News .. “Now the U.S.-China conflict and global pandemic are further accelerating moves by multinationals to reshore and duplicate supply chains, with a focus on reliability as opposed to just cost optimization.” Intel Corp....