Canada Pension Plan Investment Board's main fund achieved a 5.6 per cent net return for the quarter ended June 30. Canada Pension Plan Investment Board President and Chief Executive Officer Mark Machin waits to appear at the Standing Committee on Finance on Parliament Hill, in Ottawa on Tuesday, Nov. 1, 2016. THE CANADIAN PRESS/Adrian Wyld

FCLTGlobal, a not-for-profit institute focused on developing research and tools to encourage long-term investing, is appointing Mark Machin, chief executive officer of the Canada Pension Plan Investment Board, as its new chair of the board of directors.

He takes on the role following the resignation of Mark Wiseman, the former CEO of the CPPIB, who stepped down from FCLTGlobal’s board effective Dec. 31, 2019.

“The work that FCLTGlobal is doing to advance long-term thinking and action in companies and the investment industry is critically important in ensuring sustainable growth in global capital markets,” said Machin in a press release. “I’m honoured by this appointment to chairman of the FCLTGlobal board and look forward to the opportunity to work with management and other board members to advance this important agenda.”

Machin has been on FCLTGlobal’s board since it was founded in 2016.