The president and chief executive officer, Tullio Cedraschi, of the CN Investment Division has retired.
He joined the division as a financial analyst 40 years ago and was appointed president and CEO in November 1977.
“Tullio has been one of the most successful pension fund managers in Canada,” says David G. A. McLean, chairman of the board at CN Rail. “Under his leadership, the division that manages the pension fund assets of CN generated consistently superior returns over the years, benefiting thousands of pensioned and current employees.”
His successor is Russell Hiscock, whose most recent position was general manager of the CN Investment Division.
The Canadian pension fund assets of CN have a market value of about $15.5 billion. Various asset classes include domestic and foreign equities, fixed income, real estate, oil and gas, hedge funds and private equity. The division has about 65 employees, including 25 investment professionals.
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