Board of Directors

Board of Directors

Members of the governing body

Ensuring good governance

Our operations and activities are overseen by a Board of Directors composed of 11 members. It determines the organization's strategic direction and is responsible for the selection, appointment, performance, evaluation and compensation of the President and CEO, who reports to the Board of Directors.

Photo of windows with metal grating
All
Investment Committee
Audit Committee
Governance Committee
Human Resources and Compensation Committee
Portrait of PSP Investments Chair Martin J. Glynn
Portrait of PSP  Investments Board member Diane Bean
Portrait of PSP Investments Board member Micheline Bouchard
Portrait of PSP Investments Board member Léon Courville
Martin J. Glynn
Chair

Joined January 30, 2014

 

PSP Committees

Investment Committee

 

Professional experience

  • President and Chief Executive Officer of HSBC Bank USA

  • President and Chief Executive Officer of HSBC Bank Canada

 

Current and past Board memberships

  • Sun Life Financial Inc.

  • Husky Energy Inc.

  • SOI Group Limited

  • Advisor Balfour Pacific Capital Inc

Diane Bean

Joined June 18, 2010

 

Committees

Investment Committee

Audit Committee

 

Professional experience

  • Executive Vice President of Corporate Affairs and Human Resources of Manulife Financial Corp.

  • Regional General Manager in Canada, USA, Asia and Europe of Manulife Financial Corp.

 

Current and past Board memberships

  • Manulife International Ltd. (Asia)

  • The Insurance Company of the West Indies Ltd.

  • Founding Co-Chair of the Toronto Region Immigrant Employment Council

  • Roy Thomson/Massey Hall

  • Canadian Stage Company

Micheline Bouchard

Joined September 29, 2011

 

Committees

Human Resources and Compensation Committee – Chair

Investment Committee

Governance Committee

 

Professional experience

  • Global Corporate Vice President of Motorola, Inc.

  • President and Chief Executive Officer of Motorola, Inc. (Canada)

 

Current and past Board memberships

  • Canada Foundation for Innovation

  • Telus Corporation

  • Banque Nationale de Paris
  • Ford Motor Company of Canada
  • London Insurance Group Inc.
  • Harry Winston
Léon Courville

Joined March 5, 2007

 

Committees

Investment Committee

Governance Committee

Human Resources and Compensation Committee

 

Professional experience

  • Associate Professor at the École des Hautes Études Commerciales (HEC) (business school affiliated with the Université de Montréal)

  • President of the National Bank of Canada

  • Owner and President of Léon Courville vineyard, founded in 1999

 

Current and past Board memberships

  • Institut de tourisme et d’hôtellerie du Québec

  • Institut économique de Montréal

  • Chairman of the Montréal Institute of Structured Finance and Derivative Instruments (IFSID)

 

Portrait of PSP Investments Board member Garnet Garven
Portrait of PSP Investments Board member Lynn Haight
Portrait of PSP Investments Board member Timothy E. Hodgson
Portrait of PSP Investments Board member Miranda C. Hubbs
Garnet Garven

Joined September 29, 2011

 

Committees

Governance Committee - Chair

Investment and Risk Committee

Audit Committee

 

Professional experience

  • Dean of Business Emeritus of Paul J. Hill School of Business and Kenneth Levene Graduate School of Business, University of Regina

  • Senior Fellow of Canada’s Public Policy Forum

  • Deputy Minister to the Premier, Secretary to Cabinet and Head of the Public Service of Government of Saskatchewan

  • Dean of Business of Faculty of Business Administration, University of Regina

  • Research Fellow of the National Centre for Management Research and Development, Richard Ivey School of Business, University of Western Ontario

  • Chairman and Chief Executive Officer of Saskatchewan Workers’ Compensation Board

 

Current and past Board memberships

  • Organization for Economic Co-operation and Development (OECD) - Management Board - Pension Budget Reserve Fund (France)

  • Accounting Standards Board (Canada)

  • Greystone Managed Investments (Canada)

  • Printwest Communications (Canada)

  • Information Engineering Inc. (USA)

Lynn Haight FCPA

Joined January 14, 2010

 

Committees

Investment Committee

Audit Committee

Governance Committee

 

Professional experience

  • Chief Operating Officer and Chief Financial Officer of the Foresters International 

  • Vice President of US Fixed Annuities of Manulife Financial Corp

  • Chief Accountant of Manulife Financial Corp

 

Current and past Board memberships

  • United Nations High Commission for Refugees in Geneva

  • Green Shield Canada

  • Somerville College Foundation at University of Oxford, UK

  • Consultative Group of International Agricultural Research Centers in Washington
Timothy E. Hodgson CPA, CA

Joined December 17, 2013

 

Committees

Investment Committee – Chair

Human Resources and Compensation Committee

 

Professional experience

  • Managing Partner of Alignvest Management Corporation

  • Special Advisor to the Governor Mark Carney of Bank of Canada

  • Chief Executive Officer of Goldman Sachs Canada, Inc.

 

Current and past Board memberships

  • Chairman Alignvest Acquisition II Corporation

  • MEG Energy Corp

  • KGS-Alpha Capital Markets, LP

  • Global Risk Institute in Financial Services

  • Next Canada

  • Goldman Sachs Canada, Inc

  • Ivey Business School

 

Miranda C. Hubbs

Joined August 15, 2017

 

Committees

Investment Committee

Audit Committee

 

Professional experience

  • Executive Vice President and Managing Director of McLean Budden Limited

  • Energy Research Analyst and Investment Banker of Gordon Capital Corporation

 

Current and past Board memberships

  • Nutrien Ltd.

  • Agrium

  • Spectra Energy Corp

  • Canadian Red Cross Tiffany Circle – WOMEN LEADING THROUGH PHILANTHROPY

Portrait of PSP Investments Board member William A. MacKinnon
William A. MacKinnon FCPA

Joined January 14, 2010

 

Committees

Audit Committee – Chair

Investment Committee

 

Professional experience

  • Partner of KPMG LLP Canada

  • Chief Executive Officer of KPMG LLP Canada

 

Current and past Board memberships

  • TELUS Corporation

  • Chair of Toronto Foundation

  • Roy Thomson Hall

 

About our Board of Directors

What are the roles and responsibilities of the Board?

The Board adopts, amends and repeals bylaws governing the conduct and management of PSP Investments' business and affairs and prescribes the duties and responsibilities for all facets of the administration and operations of PSP Investments. It is also responsible for the selection, appointment, performance evaluation and compensation of the President and CEO, who reports to the Board of Directors.

 

The terms of reference provide a detailed account of the duties and responsibilities of the Board. These are reviewed on a regular basis.

How are board members selected?

Board members are appointed by the Governor in Council on the recommendation of the President of the Treasury Board, for a term not exceeding four years.

 

Candidates are selected from a list of qualified Canadian residents proposed by an external nominating committee established by the President of the Treasury Board (the “Nominating Committee”) pursuant to the Public Sector Pension Investment Board Act.

 

The Chair of the Board is designated by the Governor in Council on the recommendation of the President of the Treasury Board, after consultation with the Board of Directors, the Minister of National Defence and the Minister of Public Safety.

How is the performance of the board assessed?

The Governance Committee has a formal process to evaluate the performance of the Chair of the Board, the Chairs of Board committees, individual members and the Board as a whole.

 

Every member of the Board, as well as the President and CEO and certain members of senior management, participate in the evaluation process.

 

The Chair of the Governance Committee presents the results of the evaluation to the Board of Directors. Ensuing Board discussions focus on concerns and opportunities for improvement, following which any measures deemed necessary are implemented.

What is the role of each of the board’s committees?

The Investment and Risk Committee is responsible for overseeing the investment management function of PSP Investments.

 

The Audit Committee’s role is generally to review financial statements and the adequacy and effectiveness of PSP Investments’ system of internal controls. This includes internal controls over the accounting and financial reporting systems within PSP Investments, as well as internal information system controls and security. All Audit Committee members are required to be financially literate in order to ensure that they can read and understand PSP Investments’ financial statements and properly fulfill their role.

 

The Governance Committee’s role is generally to assist the Board of Directors in monitoring governance matters at PSP Investments and developing related policies. The Governance Committee has responsibility for the application of the Code of Conduct for Directors and the Code of Conduct for Officers, Employees and Others.

 

The Human Resources and Compensation Committee (HRCC) assists the Board of Directors in ensuring that the necessary policies and procedures are in place to efficiently and effectively manage PSP Investments’ human resources and to offer all employees fair and competitive compensation aligned with performance.

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Understand our governance

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Meet our Senior Management

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