Flaherty Names RBC’s Taylor to Canada Pension Plan Board

Finance Minister Jim Flaherty named Kathleen Taylor as a director of the Canada Pension Plan Investment Board, the nation’s largest retirement-fund manager.

This marks the second appointment for Taylor in six weeks after she was named chairwoman at Royal Bank of Canada (RY), the country’s biggest lender, starting next year. The CPPIB, which reported C$188.9 billion ($183 billion) of assets on Aug. 9, works independently of government to invest taxpayer pension contributions.

“Ms. Taylor’s global operational expertise and significant financial-services-board experience will make her a solid contributor,” Flaherty said in a statement today from Ottawa. Taylor didn’t immediately respond to an e-mail request for comment.

Taylor, 56, the former chief executive officer of Four Seasons Hotels & Resorts, has been on Royal Bank’s board since 2001. She has a master’s degree in business administration from the Schulich School of Business and a law degree from Osgoode Hall Law School at York University in Toronto.

“Katie will be a valuable addition to our board and contribute significantly to CPPIB’s ability to fulfill its crucial responsibility to provide a foundation upon which 18 million Canadians build their financial security in retirement,” Bob Astley, Canada Pension Plan chairman, said in an e-mailed statement.

Canada Pension Plan’s first chairman was a female, Gail Cook-Bennett, who later became the non-executive chairman at Manulife Financial Corp. (MFC), the country’s biggest insurer.

To contact the reporters on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net; Katia Dmitrieva in Toronto at edmitrieva1@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net

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