Serendipity Capital, a financial services principal investing firm, announced Dr. Mark Machin will join its board as a non-executive director on Aug. 1.
Machin has 30 years of experience in investment and finance, most recently as the president and CEO of CPP Investments for five years. During his tenure, CPP investments averaged returns of over 11 per cent per annum.
Machin joined CPP in 2012 and was senior managing director and head of international, based in Hong Kong. Prior to CPP, Machin spent 20 years at Goldman Sachs in London and Hong Kong where for 17 years he focused on Capital Markets and Investment Banking in Asia. He was a partner for nine years and was Asia head of investment banking for Goldman Sachs for six years.
He stepped down amid controversy surrounding his decision to fly to the United Arab Emirates in February to receive a COVID-19 vaccination, contravening Canadian government advice against international travel.
Machin is currently on the board of the Atlantic Council. He studied undergraduate and graduate medicine and holds a bachelor in physiological sciences from Oxford University and bachelors of medicine and surgery from Cambridge University.
Avison Young names Richman to board
Avison Young has announced Larry D. Richman, former chair, U.S. region, at CIBC Bank USA, and the former president and CEO of The PrivateBank, has joined the firm’s board of directors.
Richman spent 40 years in banking – much of his career with LaSalle Bank in Chicago, where he rose to president and CEO of LaSalle Bank N.A., and president of LaSalle Bank Midwest. He joined The PrivateBank in November 2007 to drive its strategic transformation, growing from $4 billion in assets in 2007 to more than $20 billion in 2017.
He joined CIBC following its June 2017 acquisition of The PrivateBank, where he served as president and CEO. He retired from CIBC in March.
Richman is on the Dean’s Advisory Council at Indiana University’s Kelley School of Business, where he earned his MBA.
He is a past trustee of Bradley University in Peoria, Ill., where he earned his bachelor’s degree. He also holds an advanced certificate from Stanford University in credit and financial management and is a Lifetime Advisory Board member at Northwestern University’s Kellogg School of Management.
Legal heads up C&W in Vancouver, Victoria
Cushman & Wakefield has named Jocelyne Legal the managing director of its Vancouver and Victoria operations. Legal, who joined Cushman & Wakefield in 2018 and was previously managing director-office leasing, will lead the Vancouver region’s 110-plus employees as well as office, industrial and retail services teams.
Additionally, she will lead recruitment and client-engagement efforts.
With Legal’s new role as managing director, former market leader Hendrik Zessel assumes the role of vice-chairman. In this new position, Zessel will continue his involvement in the Vancouver operations while working to grow the equity debt and structured finance group.
Prior to joining Cushman & Wakefield, Legal was vice-president, leasing, at a fully integrated commercial real estate advisory and capital firm where she oversaw the marketing and leasing of a significant portfolio.
She has been actively involved in Vancouver commercial real estate for more than 30 years, including representing some of Canada’s most sophisticated institutional investors and negotiating complex transactions.
Putnam promoted at CMLS
CMLS Financial has promoted Dan Putnam to senior vice-president, head of residential mortgages. Putnam, who began his career as a mortgage broker and has given more than a decade of service to CMLS Financial, was one of those involved in the launch of the residential mortgage division he now oversees.
Putnam has more than 25 years of experience in the Canadian residential mortgage industry. In 2015, he served as chairman of the board for the Canadian Association of Accredited Mortgage Professionals (CAAMP) and was responsible for the association being recast as Mortgage Professionals Canada.
Prior to that, he owned and operated a large regional mortgage brokerage and served as president of two national mortgage brokerage operations and as president of originations for a national residential mortgage lender.
Fournier becomes trustee at BTB
40-year industry veteran Daniel Fournier has been named a trustee at BTB REIT. Between 2010 and 2019, Fournier served as chair and CEO of Ivanhoé Cambridge, a real estate subsidiary of Caisse de dépôt et placement du Québec.
During his tenure, Ivanhoé Cambridge grew into one of the world’s largest and most respected institutional investors, doubling its total assets from $31 to $65 billion.
Prior to that, Fournier chaired the board of the engineering consulting firm Genivar, now WSP Global, and was a board member of Canadian Tire. He was also a director of Summit Industrial Income REIT and of Standard Life (Canada), now Manulife.
Two longtime board members also departed from their roles at BTB. Peter Polatos and Luc Lachapelle ended their tenures as trustees, having been members of the board since BTB’s inception in 2006.
Boulton joins ONE Development board
ONE Development Corp. has appointed real estate developer and architect W. Stephen Boulton to its board.
Boulton’s depth of skill in real estate development and allied businesses, including asset acquisition, management and ultimate disposition, operations and execution, will allow him to help provide experienced oversight for ONE.
Boulton has held numerous leadership and board-level positions.
Two new board members at Teranet
Teranet Inc. has appointed two new members to its board of directors, Jane Skoblo as audit chair and Andrea E. Bolger as board chair.
Skoblo, CPA, CA, CITP, ICD.D., is a respected corporate executive with a strategic and operational background with international experience in strategy, finance, digital technology and customer loyalty. She has served on boards for the past decade with knowledge in enterprise risk management, corporate governance and regulatory compliance best practices.
Bolger, MBA, ICD.D, is a recognized leader and experienced board member for various public and private companies. With over a decade of board service in the Canadian financial services industry, she specializes in strategic business leadership, enterprise risk management, and governance best practices.
Casciato becomes an EVP at Pacific Mortgage
Pacific Mortgage Group Inc., the parent of independent mortgage lender Radius Financial, has named Alfonso Casciato its executive vice-president of strategic initiatives.
Casciato brings over 25 years of experience in the mortgage industry, including more than 10 years with CIBC Mortgages. He was also a co-founder of Street Capital Bank of Canada where he held several executive positions, most recently SVP, national sales and formerly SVP, credit.
Casciato will assist Pacific Mortgage Group and its subsidiary companies, including Radius, in spearheading with strategic initiatives to further accelerate growth and fintech innovation.
Feeney stepping down at CPP Investments
After 11 years with CPP Investments, Shane Feeney, senior managing director and global head of private equity, is leaving the organization to assume a leadership role at Northleaf Capital Partners.
“I want to thank Shane for his tremendous contribution to CPP Investments. For the past 11 years, Shane has had a significant impact on growing our Private Equity program to be a key part of our diversified investment strategy and one that is recognized as a leader globally,” said John Graham, president and CEO of CPP Investments, in the announcement.
“A friend and colleague for many years, his contributions beyond leading one of our most successful investment programs will be missed and we wish him all the best in his new role.”
CPP Investments is now involved in a process to select Feeney’s successor.