Doug Pearce, CEO and chief investment officer (CIO) of British Columbia Investment Management Corp. (bcIMC), plans to retire from his position next year.
“Doug’s vision led to the establishment of bcIMC, and he went on to create a company with an international reputation of being a prudent, ethical and responsible investor that is held in high regard by our peers and partners,” says Rick Mahler, chair of bcIMC’s board of directors.
Pearce says that after 25 years as CEO and CIO, it’s time for him to move on and allow the organization to transition to a new generation of leadership.
Under his tenure, assets under management have jumped to more than $100 billion from $15.9 billion in 1988.
The board will conduct a process to select and appoint Pearce’s successor. It will consider both internal and external candidates with the assistance of an executive search firm.
The recruitment process is expected to be done by the end of March 2014. If the process extends beyond that time, Pearce has agreed to stay on and continue to lead bcIMC until the recruitment and transition is completed.