Michael Sabia, chief executive of Caisse de depot et placement du Quebec (CDPQ), said he will step down as pension fund manager to pursue a role with the University of Toronto a year sooner than expected.
Sabia has been with CDPQ, Canada’s second-largest pension fund, for more than a decade and served as president and chief executive since 2009. Prior to that, he was chief executive of BCE Inc., a Canadian telecommunications company.
He will leave at the beginning of February, stepping into a role as head of the Munk School of Global Affairs and Public Policy at the university.
“This appointment will allow me to continue working on issues that I think are particularly important in the current state of world affairs,” said Sabia in a statement. “In this new role, I’ll benefit from my presence in the rich cultures of two global cities, Montréal and Toronto.”
Under Sabia’s leadership, CDPQ nearly tripled its assets from $120.1 billion to $326.