Caisse leveraging technology for investment, risk management
The Caisse de dépôt et placement du Québec is introducing a new structure to maximize its impact in technology.
The integrated approach aims to leverage technology for performance, both in investment and risk management activities, as well as in transforming the organization.
“For many years now, CDPQ has made the integration of disruptive technology a strategic priority,” said Charles Emond, president and chief executive officer of the Caisse, in a press release. “With this new integrated approach, we will be even better positioned to seize investment opportunities and strengthen our business practices. Technology will play a central role in all of our activities going forward. The current crisis, which is accelerating the adoption of new technological solutions in every industry, has strengthened our conviction.”
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To pilot the new strategy, Alexandre Synnett has been appointed executive vice-president and chief technology officer. He was previously the organization’s executive vice-president of digital technology and operations.
The new approach is based on three pillars. The first aims to anticipate and capitalize on investment opportunities created by disruptive technology and models. Led by Tom Birch, the Caisse’s global managing director of venture capital and technology, the team will work on increasing investments in technology companies from around the world, at all stages of maturity and across all asset classes. It will also continue to work closely with the group responsible for the pension fund’s investments in Quebec.
The second pillar aims to protect invested capital by further integrating technology into risk management. In addition to allowing it to better assess the impact that technological innovations have on its portfolio companies, this aspect aims to enhance the Caisse’s market intelligence on the business models of the future.
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The third pillar involves the digital strategy and will focus on the organization’s transformation so it remains an agile and cutting-edge organization, including through augmented and artificial intelligence, the digital experience and the integration of different technological innovations into decision-making processes.
In addition, the Caisse’s global research team, which is already involved in its investment teams for sectoral research, will add analytical services and data sciences capacities to its work, which were previously part of various teams across the organization. The new group will be led by Jim McMullan, head of global investment research.