Briefing

Quebec’s Caisse taps Canada’s former UN ambassador to run international investments

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Marc-André Blanchard will oversee investments outside Canada, where the pension fund has 66 per cent, or about $225 billion, of its $340 billion in assets. (The Logic)

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Talking point: Blanchard, who spent the past four years as Canada’s UN ambassador, was replaced earlier this month by Bob Rae. Blanchard is taking over a growth area for the pension fund. The Caisse increased its international investments last year, with the U.S., India, Brazil and Colombia all areas of focus. The fund posted a 9.2 per cent annualized return over 10 years in its annual report for 2019, published in June. Prior to taking the UN role, Blanchard was the past CEO of McCarthy Tétrault. He’ll report directly to the Caisse’s new CEO, Charles Emond, who has held the job for six months.