CANADA - Caisse de dépôt et placement du Québec chief risk officer Susan Kudzman has stepped down, the pension fund manager said.
Kudzman had been on an extended sick leave, and will be replaced on an interim basis by executive vice president and legal affairs secretariat Claude Bergeron. Caisse is conducting a world-wide search for her replacement.
Kudzman said: "After careful consideration, I have decided to pursue other professional opportunities. I remain very proud of actively participating in the development of the Caisse's new risk management program and initiating its implementation with the team."
Caisse has been putting a renewed focus on risk management after posting record losses in 2008 in part because of its exposure to commercial asset-backed securities. Officials have since moved to decrease risk within the portfolio and invest more in line with its liabilities. (Global Pensions; January 26, 2010)
Chief executive Michael Sabia said: "I would like to acknowledge all the work done by Mrs. Kudzman during a tumultuous period for the Caisse. On behalf of my colleagues and myself, I also wish to thank her for her contribution."
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