The Future Fund has appointed Paul Mann, a former manager of fund services at National Custodian Services (NCS), as chief financial officer, while a chief operating officer has also been appointed.
Mann was most recently an accounting executive at GE Money, prior to which he spent several years at NCS overseeing its backoffice outsourcing operations, with responsibility for distribution calculations and preparation of financial statements for clients. Before that he was an auditor at PricewaterhouseCoopers with a specialty in managed funds. Chief executive of the Future Fund management agency, Paul Costello, would not comment on the chief financial officer appointment. An announcement of a chief operating officer appointment is understood to be imminent.
13/02/2007
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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