Minister of Finance Announces Appointment to Canada Pension Plan Investment Board
June 17, 2016 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada is committed to an open, transparent and merit-based selection process for Governor in Council appointments that serve Canadians' interests first.
To that end, Finance Minister Bill Morneau today announced the appointment of Jackson Tai to the Canada Pension Plan Investment Board (CPPIB).
Mr. Tai currently sits on the boards of publicly listed companies including Bank of China, Eli Lilly and Company, MasterCard Incorporated and Royal Philips NV, as well as not-for-profit organizations including the Rensselaer Polytechnic Institute and the Metropolitan Opera. His over 40 year banking career has allowed him to gain a deep understanding of global financial markets. His leadership and involvement on boards of global companies and associations of the arts have provided a rich and deep experience to draw upon in his new role.
His appointment is for a term of three years.
"I congratulate Jack Tai on his appointment. His over 40 years of global banking experience will be an asset to the CPPIB board. With this new addition, the board will continue developing and executing investment strategies to help ensure the long-term sustainability of the CPP Fund. Safe, sound and efficient management of funds helps Canadians by contributing to a safe, secure and dignified retirement."
— Bill Morneau, Minister of Finance
- The CPPIB is a professional investment management organization that invests the assets of the Canada Pension Plan (CPP) not currently needed to pay pension, disability and survivor benefits.
- Operating at arm's length from government, the CPPIB is responsible for prudently investing CPP investment funds in a diversified portfolio of assets to serve the best interests of CPP contributors and beneficiaries.
- Directors of the CPPIB are selected by the federal government, in consultation with participating provincial governments.
- Federal legislative changes in 2014 allow the CPPIB to name up to three non-resident directors to the board.
Office of the Minister of Finance
Department of Finance Canada