For immediate release
Ottawa — The Honourable Tony Clement, President of the Treasury Board and Minister responsible for FedNor, is pleased to announce the appointment of Micheline Bouchard and Garnet Garven as well as the re-appointment of Léon Courville to the Public Sector Pension Investment Board.
The Public Sector Pension Investment Board (which operates under the name of PSP Investments) is a Crown corporation established to invest proceeds derived from the net contributions to the pension plans of the Public Service, the Canadian Forces, the Reserve Force and the Royal Canadian Mounted Police.
Assets are invested in fixed income instruments, Canadian and foreign equities, real estate, private equities and other permissible investments through in-house and external managers.
PSP Investments operates at arm's length from the federal government. It is not part of the federal public administration and its business and affairs are managed by a Board of Directors.
The management of the business of PSP Investments rests solely with its Board of Directors. In particular, the Board of Directors appoints the President and Chief Executive Officer, determines the investment policy for the assets managed by PSP Investments, and sets the compensation policy for its staff.
Biographical notes are attached.
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For more information, contact:
Sean Osmar
Press Secretary
Office of the President of the Treasury Board
613-957-2666
Media Relations
Treasury Board of Canada Secretariat
613-957-2640
If there is a discrepancy between any printed version and the electronic version of this news release, the electronic version will prevail.
TTY (Telecommunications device for the hearing impaired) - (613) 957-9090
Micheline Bouchard has extensive director experience with public (8), private (3) and state-owned (1) commercial companies and volunteer boards. Past board membership experience includes Ford Motor Canada and Banque Nationale de Paris. She is currently a board member of Telus and Harry Winston Diamond. She is a member of the Order of Canada and her work experience has taken her across Canada and to the United States.
An academic, senior public servant and management advisor, Garnet Garven is a Senior Fellow with Canada's leading think tank, the Public Policy Forum. He is a former Deputy Minister to the Premier and Secretary to the Saskatchewan Cabinet and a long-time Dean of Business at the University of Regina and Research Fellow at the Richard Ivey School of Business. He served as Chairman and CEO of the Saskatchewan Workers' Compensation Board and National President of the Association of Workers' Compensation Boards. He has served on a variety of public, private and not-for-profit boards and has consulted to more than 80 organizations.
Léon Courville has devoted his entire career to the sciences of management and finance, serving first as a professor and researcher at universities in Canada and the United States before being appointed President of the National Bank of Canada. Mr. Courville is a member of the Boards of Directors of Nav Canada, the Institut de Tourisme et d'Hôtellerie du Québec and the Institut Économique de Montréal. His research and publications have garnered awards and bursaries in Canada and abroad, including the Coopers & Lybrand Award for his work entitled The Storm - Navigating the New Economy. Mr. Courville holds a Ph.D. in Economics from Carnegie-Mellon University.
