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.
Joined January 30, 2014
PSP Committees
Investment and Risk Committee
Professional experience – Previous positions
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President and Chief Executive Officer of HSBC Bank USA
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President and Chief Executive Officer of HSBC Bank Canada
Current Board memberships
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Sun Life Financial Inc.
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StAAR Limited
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Balfour Pacific Capital Inc.
Joined September 7, 2018
Committees
Governance Committee - Chair
Investment and Risk Committee
Human Resources and Compensation Committee
Professional experience - Previous positions
- Strategic Advisor and Special Counsel at Borden Ladner Gervais s.e.n.c.
- Vice President, Real Estate Services, Legal Services and General-Counsel at CBC/Radio-Canada
- Partner at Davies Ward Phillips and Vineberg s.e.n.c., srl
Current Board memberships
- National Bank of Canada
- Gildan Activewear Inc.
- Metro Inc.
- McGill University
Past Board memberships
- Caisse de dépôt et placement du Québec
Joined on October 30, 2018
Committees
Investment and Risk Committee
Governance Committee
Human Resources and Compensation Committee
Professional experience – previous positions
- Global Director of Technology, Digitization and Communications, McKinsey & Company and member of the Global Operating Committee
Current Board memberships
- Brookfield Business Partners
- Canadian Tire Corporation
- Georgian Partners
- National Geographic's International Council of Advisors
- Smith Business School at Queen's University
Joined September 29, 2011
Committees
Audit Committee - Chair
Investment and Risk Committee
Professional experience – Previous positions
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Dean of Business Emeritus of Paul J. Hill School of Business and Kenneth Levene Graduate School of Business, University of Regina
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Senior Fellow of Canada’s Public Policy Forum
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Deputy Minister to the Premier, Secretary to Cabinet and Head of the Public Service of Government of Saskatchewan
- Research Fellow of the National Centre for Management Research and Development, Richard Ivey School of Business, University of Western Ontario
- Chief Executive Officer of Saskatchewan Workers’ Compensation Board
Current Board memberships
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Organization for Economic Co-operation and Development (OECD) - Management Board - Pension Budget Reserve Fund (France)
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Western Surety Company
Past Board memberships
- Saskatchewan Workers’ Compensation Board
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Greystone Managed Investments (Canada)
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Printwest Communications (Canada)
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Information Engineering Inc. (USA)
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Accounting Standards Board (Canada)
Joined December 18, 2020
Committees
Investment and Risk Committee
Audit Committee
Professional experience – Previous positions
- Head of the Financial Institutions Group, Americas of Bank of America Merrill Lynch
- President Corporate and Investment Banking of Merrill Lynch Canada
- Managing Director and Head of the Financial Institutions Group of Merrill Lynch Canada
- Head of the Financial Institutions Group of RBC Capital Markets.
Current Board memberships
- Sun Life Financial Inc.
- Loblaw Companies Limited
- President’s Choice Bank
FCPA, CA
Joined December 17, 2013
Committees
Investment and Risk Committee – Chair
Human Resources and Compensation Committee
Professional experience – Previous positions
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Managing Partner of Alignvest Management Corporation
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Special Advisor to Governor Mark Carney of Bank of Canada
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Chief Executive Officer of Goldman Sachs Canada, Inc.
Current Board memberships
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Hydro One
- Sagicor Financial Company Ltd.
Past Board memberships
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MEG Energy Corporation
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The Global Risk Institute
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KGS-Alpha Capital Markets
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Bridgepoint Health
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The Richard Ivey School of Business
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Next Canada
Joined August 15, 2017
Committees
Human Resources and Compensation Committee – Chair
Investment and Risk Committee
Governance Committee
Professional experience – Previous positions
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Executive Vice President and Managing Director of McLean Budden Limited
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Energy Research Analyst and Investment Banker of Gordon Capital Corporation
Current Board memberships
- Imperial Oil
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Nutrien Ltd.
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Canadian Red Cross
Past Board memberships
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Agrium Inc.
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Spectra Energy Corp.
Joined December 18, 2020
Committees
Investment and Risk Committee
Human Resources and Compensation Committee
Professional experience – Previous positions
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Executive Vice-President, Chief Risk Officer and Corporate Affairs of Laurentian Bank of Canada
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Executive Vice-President and Chief Risk Officer of Caisse de dépôt et placement du Québec
Current Board memberships
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Yellow Pages Limited
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Medavie
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Transat A.T. Inc
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Financeit
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Festival du Nouveau Cinéma
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Institute of Corporate Directors
CPA, CA
Joined June 25, 2018
Committees
Investment and Risk Committee
Audit Committee
Governance Committee
Professional experience – Previous positions
- President and Chief Executive Officer of GE Capital Canada
- Chief Executive Officer of GE Capital Real Estate in Canada
- Chief Executive Officer of 3 Angels Holdings Limited
Current Board memberships
- BCE Inc.
- Colliers International Group
FCPA
Joined January 14, 2010
Committees
Audit Committee
Investment and Risk Committee
Professional experience
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Partner of KPMG LLP Canada
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Chief Executive Officer of KPMG LLP Canada
Current Board memberships
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Chair of Toronto Foundation
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Roy Thomson Hall
Past Board memberships
- KPMG International
- TELUS Corporation
Board of Director positions - For information on how to apply and eligibility criteria to serve on PSP Investments’ Board of Directors, please review the Board’s Appointment Opportunities.
About our Board of Directors
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.
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.
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.
Board of Director positions
For information on how to apply and eligibility criteria to serve on PSP Investments’ Board of Directors, please review the Board’s Appointment Opportunities.
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.