CANADA - Caisse de dépôt et placement du Québec, manager of public pension plans in Québec, has appointed Rene Tremblay as executive vice-president of real estate.
Rene Tremblay, president and chief executive officer of Ivanhoe Cambridge, a subsidiary of La Caisse, will take up the role on an interim basis from today until 7 July 2009.
Maxime Changnon, spokesperson for Canada's largest pension fund, said: "The decision to appoint Tremblay as executive vice-president is because he was the best candidate for the role. He knows very well the real estate at la Caisse for a number of years."
Tremblay will replace Fernand Perreault, who has been appointed president and CEO of the Caisse for the next six months following Richard Guay's decision to resign.
Pierre Brunet, chairman of the pension fund, said: "The board believes it is appropriate at this time to entrust Mr Perreault with a transitional mandate. During this transition, Mr Perreault and the senior management team will continue to implement the appropriate decisions so as to adapt the Caisse's strategies to the changes caused by the global financial and economic crisis."
Guay, who has decided to leave the position for personal reasons, was appointed the role in September 2008, having been temporarily managing the institution since May 2008. From today he will become strategic adviser to the president and CEO and give advice on investment policy and asset allocation.
The Caisse's Board of Directors did not say when it would begin recruiting for a new president and CEO.