Davos, Switzerland, 21 January 2020 – FCLTGlobal, the non-profit organization that develops research and tools that encourage long-term investing, has appointed Mark Machin, President and CEO of CPP Investments as the new chair of its board of directors.
Machin will assume the chairmanship after serving on FCLTGlobal’s board since the organization’s founding in 2016. FCLTGlobal was formed out of Focusing Capital on the Long Term (FCLT), which began in 2013 as a joint initiative of CPP Investments and McKinsey & Company. In July 2016 it partnered with BlackRock, the Dow Chemical Company, and Tata Sons to found FCLTGlobal as an independent non-profit. The organization’s membership is comprised of global asset owners, asset managers, and companies that play a leading role in rebalancing capital markets for sustainable growth.
FCLTGlobal’s board of directors approved Machin’s appointment at their first meeting of the year alongside the World Economic Forum in Davos, Switzerland.
“The work that FCLTGlobal is doing to advance long-term thinking and action in companies and the investment industry is critically important in ensuring sustainable growth in global capital markets,” said Mark Machin, President & CEO, CPP Investments. “I’m honoured by this appointment to Chairman of the FCLTGlobal Board and look forward to the opportunity to work with management and other board members to advance this important agenda.”
FCLTGlobal also announced the addition of three new board members – Adena Friedman (Nasdaq), David Neal (Future Fund), Lei Zhang (Hillhouse Capital Group) – at the start of the year. Machin chaired the board’s Finance and Audit committee during his 3+ year tenure.
“Mark’s depth of experience and the organization he leads has made him a key advocate for FCLTGlobal since the very beginning, and we’re excited to welcome him as the new chair of our board,” said Sarah Keohane Williamson, FCLTGlobal’s CEO. “He’s provided a critical voice to the discussion on the growth of long-term investing and the role institutional investors can play in shaping the future of capital markets.”
Machin has been President & CEO of CPP Investments since June 2016, where he is responsible for leading CPP Investments and its investment activities. He joined CPP Investments in 2012 as its first President for Asia. In November 2013, Mark became Head of International, where he was responsible for the organization’s international investment activities. Prior to joining CPP Investments, Machin had a 20-year career at Goldman Sachs where he was most recently Vice Chairman of Asia ex-Japan. Based in Asia for more than 20 years, among other roles, Machin ran the Investment Banking Division of Goldman Sachs in Asia ex-Japan for six years. He was a member of Goldman Sachs’ Asia Management Committee and the Firmwide Capital Committee. Beforehand, Machin qualified as medical doctor in 1990 and in 1991, after practicing medicine in the UK, he joined Goldman Sachs in London in European Corporate Finance. Mark holds a BA in Physiological Sciences from Oriel College, Oxford University, and a BM BChir from Downing College, Cambridge University.
FCLTGlobal’s full Board of Directors can be found below:
Board of Directors
Vijay Advani, CEO, Nuveen
Leni Boeren, CEO, Kempen Capital Management
Carmine Di Sibio, Global Chairman and CEO, EY
Adena Friedman, CEO and President, Nasdaq
Peter Harrison, Group Chief Executive, Schroders
Chow Kiat Lim, CEO, GIC
Mark Machin, President and CEO, CPP Investments
Geraldine Matchett, CFO, Royal DSM
David Neal, CEO, Future Fund
Paul Polman, Co-founder, IMAGINE
Kevin Sneader, Global Managing Partner, McKinsey & Company
Howard Ungerleider, President and CFO, Dow Chemical Company
Theresa J. Whitmarsh, Executive Director, Washington State Investment Board
Sarah Keohane Williamson, CEO, FCLTGlobal (ex-officio)
Lei Zhang, Founder and CEO, Hillhouse Capital Group
About FCLTGlobal
FCLTGlobal is a non-profit organization that develops research and tools that encourage long-term investing. Our Membership is comprised of global asset owners, asset managers, and companies that play a leading role in rebalancing capital markets for sustainable growth. Please visit www.fcltglobal.org for more information.
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Video
28 February 2018 - Interview with Mark Machin, President & CEO of the Canada Pension Plan Investment Board, at the 2018 Focusing Capital on the Long Term Summit in New York.
Video
28 February 2018 - CPPIB's Mark Machin discusses the importance of long-term investment mandates. From the 2018 Focusing Capital on the Long Term Summit in New York.
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