Appointment to Public Sector Pension Investment Board

OTTAWA, June 23 /CNW Telbec/ - The Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway, is pleased to announce the appointment of Diane Bean to the Public Sector Pension Investment Board.

The Public Sector Pension Investment Board (which operates under the name of PSP Investments) is a Crown corporation established to invest proceeds derived from the net contributions to the pension plans of the Public Service, the Canadian Forces, the Reserve Force and the Royal Canadian Mounted Police.

Assets are invested in fixed income instruments, Canadian and foreign equities, real estate, private equities and other permissible investments through in-house and external managers.

PSP Investments operates at arm's length from the federal government. It is not part of the federal public administration and its business and affairs are managed by a Board of Directors.

The management of the business of PSP Investments rests solely with its Board of Directors. In particular, the Board of Directors appoints the President and Chief Executive Officer, determines the investment policy for the assets managed by PSP Investments, and sets the compensation policy for its staff.

Ms. Bean's biographical notes are available at http://www.tbs-sct.gc.ca/media/nr-cp/2010/0623a-eng.aspNo.bio.

    
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This news release is available online at: www.tbs-sct.gc.ca.

For further information: Mélisa Leclerc, Director of Communications, Office of the President of the Treasury Board, 613-957-2666; Media Relations, Treasury Board of Canada Secretariat, 613-957-2640