Graeme Eadie is stepping back from his role as global head of real assets after 12 years at Canada Pension Plan Investment Board (CPPIB).

Eadie is being replaced on 15 July by Ed Cass, currently chief investment strategist at the CAD316.7bn (€216bn) pension fund.

CPPIB said that Eadie will continue to work in “a general management role with a focus on investment approval processes”.

The change comes less than a year after CPPIB set up a real assets division.

Eadie, who had been global head of real estate, was given a wider remit to oversee other real assets, including infrastructure and agriculture.

Cass, who will also remain a senior managing director, has worked at CPPIB since 2008, initially heading up the global capital markets group.

He subsequently led the global corporate securities group and then the global tactical asset allocation programme, all within the public market investments department.

Cass previously held senior positions at Deutsche Bank Canada and TD Securities.