The Caisse de dépôt et placement du Québec (CDPQ) is restructuring its structures and integrating its real estate subsidiaries Ivanhoé Cambridge and Otéra Capital into its fold. Seen as a possible “ top gun » at the head of Santé Québec, Nathalie Palladitcheff will leave her position at the end of April.
The Quebecois nest egg hopes to generate efficiency gains of $100 million thanks to the synergies drawn from the integration of the two subsidiaries. The institution expects to have completed the integration within 18 to 24 months.
The Fund did not want to comment on the number of jobs lost during this process. “At this stage, we will not provide a figure on the number of jobs,” responds spokesperson Kate Monfette in an email. Work is underway in each team to optimize resources, processes and systems. »
Employees will have to wait a few weeks before knowing more about their future. “Our employees will be informed of their status by the end of April,” specifies Ms. Monfette. We will be able, when the integration is complete, to specify these elements. »
With this integration, the Caisse wants to bring together the expertise of its subsidiaries in the same organization.
“This integration is based on a vision of a regrouped CDPQ that maximizes its strength and performance, to offer the best service, at the best cost, to our depositors. […] We want to act as one team, one CDPQ, and leverage the unique know-how of our talents to create value for our depositors,” declared Charles Émond, President and CEO of CDPQ, in a press release on Wednesday.
The two subsidiaries will become investment groups within CDPQ. They will retain their brand and their activities.
Departure of Nathalie Palladitcheff
In the process, the president and CEO of Ivanhoé Cambridge, Nathalie Palladitcheff, decided to leave her position. “My transformation mandate will conclude at the end of this transition period, in which I will be fully committed,” she wrote in a press release.
Ms. Palladitcheff is one of the people considered as a possible candidate to head the new Santé Québec agency, according to rumors reported by various media.
The Caisse declined requests for interviews. We claim not to know Ms. Palladitcheff’s plans for the future.
The appointment of the person chosen to replace her at the head of the real estate group should be announced before her departure.
The President and CEO of Otéra Capital, Rana Ghorayeb, will continue in her role.