John Valentini will replace Gordon Fyfe, who is leaving PSP Investments to become CEO of B.C. Investment Management Corp.
Valentini has been PSP Investments' chief operating officer and chief financial officer since 2008. He has previously been chief financial officer at BCE Emergis and Cognicase Inc., and held senior positions at PricewaterhouseCoopers, Ernst & Young and CDP Capital.
He will hold the top management post while the investment board begins its search for a permanent replacement for Fyfe, whose departure was announced Friday.
At B.C. Investment Management Corp, 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 replaces Doug Pearce, who is retiring after more than 20 years as head of the B.C. fund manager.