VICTORIA - The chief executive of PSP Investments, which manages pension funds for the federal public service, Canadian Forces and RCMP, is leaving to become CEO of B.C. Investment Management Corp.
In his new role, Gordon Fyfe will manage a fund with $114.8 billion in assets — compared with $90 billion of assets managed by PSP Investments for the federal public sector.
Fyfe has more than 30 years of experience in investment and finance, including at JP Morgan, the Caisse de depot et placement du Quebec and TAL Global Asset Management.
He replaces Doug Pearce, who is retiring after more than 20 years as head of the B.C. fund manager.
B.C. Investment Management manages investments for public sector pension plans, public trusts and insurance funds.
The Public Sector Pension Investment Board says it has a CEO succession plan in place but it didn't announce Fyfe's successor.