Canada’s Caisse de Depot Names Sabia Chief Executive

Caisse de Depot et Placement du Quebec hired former BCE Inc. head Michael Sabia as chief executive officer, ending a two-month search after Canada’s largest pension-fund manager suffered a record loss.

Sabia, 55, is taking over from Fernand Perreault, who had been interim chief executive since November, the Montreal-based fund manager said. The Caisse manages C$120.1 billion ($94.3 billion) for retirees in the French-speaking province of Quebec.