Canada’s La Caisse unveils Asia-Pacific plan
25 August 2014
Category: News, Asia, Global, Singapore
By Daniel Shane
Caisse de dépôt et placement du Québec (La Caisse), the Canadian pension fund that manages assets totalling C$214.7 billion (US$197.24 billion), said that it will open an Asia-Pacific headquarters in Singapore by end the of this year, and appointed an executive to lead its regional strategy.
La Caisse said that Édouard Merette, former chief executive officer, Asia-Pacific, at Aon Hewitt, will take up the role of regional managing director at the pension manager. His responsibilities will include developing and monitoring La Caisse’s investments in Asia, as well as developing relationships within the public and private sectors.
Mr. Merette’s career has also included a 20-year-plus stint at Mercer, where he was a member of the global management committee and oversaw operations in Europe, Asia and Canada. He will start in his new role on October 1.
“We require in-depth knowledge of these markets and are therefore recruiting top talent and experts, wherever they may be in the world. We are pleased that Mr. Merette, a Quebecer of international repute, has agreed to join our organisation, enabling us to take an important step forward in implementing our investment strategy,” commented Michael Sabia, president and chief executive officer of La Caisse.
In June, Mr. Sabia had said that La Caisse planned to open a regional headquarters in Singapore within the next five years, as well as other regional outlets in Mumbai and Sydney. It currently has an office in Beijing.
Mr. Sabia earlier this month expressed concerns over stuttering economic growth in China, while stating that La Caisse would be sharpening its focus on emerging markets including India, Mexico and Asia via Australia.