CPPIB to lay off dozens in active equities division and merge it with another unit, sources say
Key points
- According to two sources, CPPIB is laying off dozens of employees in its active equities division
- The division will merge with the capital markets and factor investing unit; most staff will stay and some may move to other roles
- Division head Frank Ieraci is departing; CPPIB's release confirmed the merged Active Public Markets unit but did not mention job cuts
The Canada Pension Plan Investment Board is laying off dozens of employees in its active equities division and merging it with another unit after years of underperformance, according to two sources cited by The Globe and Mail. Most staff will stay, and some affected employees may move to other roles. Division head Frank Ieraci is departing. CPPIB's news release confirmed the merged Active Public Markets unit but did not mention job cuts.
Original report: The Globe and Mail ↗AI-assisted brief; may contain inaccuracies. Rely on the original reports and official documents.