The Board of Directors of the Public Sector Pension Investment Board (PSP Investments) is pleased to announce that, after a thorough and rigorous global search, it appointed Deborah K. Orida as President and Chief Executive Officer effective September 1, 2022.
Ms. Orida has 25 years of experience in the investment and finance industry and was most recently Senior Managing Director, Global Head of Real Assets & Chief Sustainability Officer, at the Canada Pension Plan Investment Board (CPP Investments) where she led the global Real Assets department that encompasses Infrastructure, Sustainable Energies, Real Estate, Sustainable Investing and Portfolio Value Creation. She will succeed Mr. Neil Cunningham, who, effective September 1, 2022, becomes Vice Chair and Special Advisor to the President and CEO, and will support the transition process until his retirement, effective March 31, 2023.
"PSP Investments' strong financial performance demonstrates the organization is well positioned for an effective leadership transition," said Martin J. Glynn, Chair of the Board at PSP Investments. "In making this decision, the Board unanimously agrees that Ms. Orida is ideally qualified to lead PSP Investments forward into its next phase of growth and strategic evolution. On behalf of my colleagues on the Board of Directors and all PSP Investments employees, I would also like to thank Neil Cunningham for his immense contribution and for ensuring a smooth and nimble transition process."
"I am deeply honoured by this appointment," said Deborah K. Orida, incoming President and Chief Executive Officer at PSP Investments. "PSP Investments is a global organization with a proven performance track-record and a strong talent base. It is a tremendous privilege to be given the opportunity to lead one of Canada's largest and fastest growing pension investment managers at a pivotal moment. I look forward to working with PSP Investments' exceptional management team to continue to respond to market opportunities and generate solid returns for contributors and beneficiaries over the long-term horizon. On a personal note, my family and I are excited to be moving to Montreal shortly and immerse ourselves in the city's culture and community."
PSP Investments posted a 10.9% return in fiscal year 2022 as assets under management grew by 12.7% to $230.5 billion. Earlier this year, the pension investment manager also launched its inaugural climate strategy with targets to guide climate action and emissions reductions.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investment managers with $230.5 billion of net assets under management as of March 31, 2022. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on Twitter and LinkedIn.
Maria Constantinescu, PSP Investments, Phone: (514) 218-3795, Email: [email protected]
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Highlights: Achieved target to increase investments in transition assets to $7.5 billion ahead of 2026 schedule. Reported Scope 1 and Scope 2 GHG data for assets in-scope climbed from 47% in fiscal year 2022 to approximatively 54% in fiscal year 2023. Further embedded our understanding of sustainability-related risks and opportunities into our culture, operations and investment practices to enhance our long-term sustainable investment approach. Strengthened our approach to sustainability and