Montreal’s C$153 billion ($117.7 billion) Public Sector Pension Investment Board (PSP Investments) has named Eduard van Gelderen as its new CIO effective immediately.
The position had been vacant for more than a year as van Gelderen replaces Daniel Garant, who left the company in July 2017. Van Gelderen, who will report to CEO Neil Cunningham, will lead PSP’s Total Fund Strategy Group, and will oversee multi-asset class investment strategies, as well as total fund allocations, and exposures in terms of asset classes, geographies, and sectors.
“Eduard has the precise combination of strong global expertise and leadership skills we were seeking for the chief investment officer position,” Cunningham said in a release. “He is an accomplished, multi-asset class investment leader with highly relevant C-level investment expertise in large scale, pension investment managers.”
Prior to joining PSP Investments, van Gelderen was senior managing director at the office of the CIO of the University of California. His responsibilities included overseeing the university’s retirement plan, heading up equity and real assets activities, and handling strategic partnerships in Europe. He has also served as CEO of Dutch financial service provider APG Asset Management, and deputy CIO of ING Investment Management.
Van Gelderen has a master’s degree in quantitative finance from Erasmus University Rotterdam, and a post-graduate degree in asset liability management from Maastricht University in Limburg. He is currently a Ph.D. candidate at the International School of Management in Paris, and is also a certified financial risk manager and a chartered financial analyst.
In June, PSP Investments reported a one-year total portfolio net return of 9.8%, ahead of its 8.7% benchmark, with five- and 10-year annualized returns of 10.5%, and 7.1%, respectively. Net assets increased by C$17.4 billion in fiscal year 2018, attributable to net income of C$13.5 billion, and net contributions of C$3.9 billion.