Mark Machin, Former President & Chief Executive Officer at CPP Investment Board
/
Mark Machin, Former President & Chief Executive Officer at CPP Investment Board
Dear Friends,
I just sent this message to my colleagues at CPPIB and wanted to share it with you.
Tomorrow is my last day at CPPIB. All journeys must come to an end. It has been said that it is better to travel well than to arrive. And we have traveled well.
What an incredible latest fiscal year. When I first sat in the seat as President and CEO five years ago, the assets were $278.9 billion; and it’s wonderful to have seen them grow to nearly $500 billion as of March 31. We generated returns over the last five years that none of us could have thought likely, averaging more than 11.0% per year! And you, we, have achieved this collectively. You have burnished CPPIB’s reputation as a benchmark and model for other pension funds around the world. I am so proud of each and every one of you, and I feel lucky to have worked along side you.
As I look back over the last few years, I am particularly proud of the momentum the organization has developed in a number of key areas: the use of data for investment insights; innovation and venture capital; sustainable investing; a strengthened lead in markets in Asia and Latin America; a deepened presence in Europe; a bolstered bi-coastal presence in the U.S.; greater diversity and inclusion; total fund management; installing a dedicated CIO; and, of course, improvements in all dimensions of risk management.
More important, our organization is not just about investment returns. The returns directly translate into the security and success of millions of Canadian retirements. We have been united in a common mission to serve the Canadian public; and we have delivered through your dedication, talent, and extraordinary work. That’s all the more true during the year of COVID, as we’ve been able to give comfort and confidence to Canadians at a time of intense stress and uncertainty that their pensions are safe, sound, and flourishing. You have outperformed with grace under fire. And I applaud each of you.
From tomorrow, I will be looking on with pride, and with awe, at your continued success. I have huge confidence in your future. I’d like to give a big thank you to my colleagues on the Senior Management Team, to all of you at CPPIB, to the board, and to Canada for having given me the opportunity to have worked with you all. It has been the highlight of my career. My special best wishes to John for a long and successful tenure as CEO.
Best regards,
Mark
Talk to Vienne Lee
Find us via LinkedIn