Caisse hires UN ambassador Blanchard as executive in charge of global portfolio

MONTREAL — Quebec's pension fund manager, the Caisse de depot, has hired Canada's United Nations ambassador as a senior executive.

Marc-Andre Blanchard, 54, will head CDPQ Global with responsibility for the United States/Latin America, Europe and Asia/Pacific as of Sept. 8.

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Blanchard has been ambassador since 2016, and was previously chairman and CEO of law firm McCarthy Tetrault.

Former Liberal MP and former Ontario premier Bob Rae will replace him as ambassador.

Blanchard will be backed up by Anita George, who becomes deputy head of CDPQ Global with an expanded mandate to cover all geographies.

She was previously executive vice-president strategic partnership, growth markets.

Caisse CEO Charles Emond says moving towards a more integrated structure for its international investments that have increased by more than $140 billion in five years is the next step in its evolution.

He says the new structure will allow the large institutional investor with $340.1 billion in net assets as of Dec. 31 to continue diversifying its portfolio.

"With his experience in leading roles on the international stage, Marc-Andre is the ideal person for the position. He possesses a remarkable ability to develop and maintain business networks, understand regional specificities while mobilizing diverse teams located around the world under a shared vision," Emond says in a statement.

This report by The Canadian Press was first published July 31, 2020.

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