CDPQ appoints new execs as Macky Tall heads to Carlyle

Macky Tall has resigned his positions at Caisse de dépôt et placement du Québec to join Carlyle Group as co-chair of the firm's infrastructure group.

Macky Tall has resigned his senior positions at Caisse de dépôt et placement du Québec to join Carlyle Group as co-chair of the firm’s infrastructure group. CDPQ said an orderly transition is now underway. It announced several personnel changes, including the appointment of Jean-Marc Arbaud as president and CEO of CDPQ Infra and the appointment of Martin Laguerre as executive vice-president, private equity and capital solutions.


Macky Tall to leave CDPQ: orderly transition process under way

MONTRÉAL, Dec. 7, 2020 /CNW Telbec/ – Caisse de dépôt et placement du Québec (CDPQ) today announces that Macky Tall has resigned from his positions at CDPQ and its subsidiaries. Mr. Tall has accepted a position with a U.S. private investment firm, which he will start in Spring 2021 following a cooling-off period.

“Over the last 16 years, Macky has helped shape our organization through his deep investment expertise and the implementation of CDPQ Infra’s innovative business model. He is recognized for his commitment to CDPQ, his accessibility and his integrity. A leader known for his ability to bring people together, Macky built strong and mobilized teams that are ready to step up,” said Charles Emond, President and Chief Executive Officer of CDPQ.

“Macky has contributed to CDPQ’s evolution in a unique way. With his teams, he built our infrastructure activities—from our investments in existing assets to designing and building new projects like the REM. As Head of Liquid Markets, and then of Real Assets, his vision of investing and ability to develop talent benefited CDPQ’s strategy and, ultimately, our depositors. On behalf of the Board of Directors, I would like to sincerely thank Macky for his tremendous contribution to CDPQ’s growth and success,” added Robert Tessier, Chairman of the Board of Directors.

“I’m honoured to have served Quebecers for 16 years at CDPQ. It was a privilege to work with very talented teams on building investment strategies, solid, long-term transactions and unique and innovative projects like the REM. I would like to thank all my colleagues, people I am proud to have worked side-by-side with at this institution that plays such a unique role in Québec,” said Macky Tall.

To ensure a smooth transition, Mr. Tall will stay in his position until the end of 2020.

Appointments in the Real Assets group

CDPQ announces a change in the structure of its Real Assets group, which is based on the talent and expertise developed within CDPQ.

Accordingly, the following appointments will be effective on January 1, 2021:

Jean-Marc Arbaud, Managing Director, CDPQ Infra, since September 2018, is promoted to President and Chief Executive Officer of operating subsidiary, CDPQ Infra. He will report directly to the President and Chief Executive Officer of CDPQ. In this role, he will continue to be responsible for the team and for developing and managing projects piloted by CDPQ Infra, in particular the Réseau express métropolitain (REM).

Jean-Marc Arbaud’s experience includes eight years at SNC-Lavalin and, from 2005 to 2011, he served as President and Chief Executive Officer of InTransitBC, concessionaire for the Canada Line, Vancouver’s electric, automated public transportation system. Before joining CDPQ Infra, he also held senior positions at Power Global and was president of Infra-Diagnox.

Harout Chitilian, who served as Executive Director, Corporate Affairs and Development, CDPQ Infra, is appointed Vice-President, Corporate Affairs, Development and Strategy, CDPQ Infra. As such, he will directly support Jean-Marc Arbaud in executing and developing CDPQ Infra’s business strategy.

Before joining CDPQ Infra, Harout Chitilian was a consultant for various companies specialized in information technology and telecommunications. He was Chairman of the City Council before becoming the Vice-President of the Executive Committee of Montréal, where he was responsible for information technology and the smart and digital city project, until 2017.

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and member of CDPQ’s Executive Committee, will report directly to the President and Chief Executive Officer. The Infrastructure portfolio he leads is expected to double in the next four years, reaching $60 billion by 2024.

Emmanuel Jaclot has been Executive Vice-President and Head of Infrastructure since June 2018. In this role, he already holds responsibility for CDPQ’s global infrastructure strategy and investments. Before joining CDPQ, he was Senior Vice-President at Schneider Electric, a global leader in energy management, in London. From 2007 to 2015, he was Deputy CEO at EDF Énergies Nouvelles, a subsidiary of EDF specialized in renewable energy, in Paris. His past experience includes managing major international mergers and acquisitions, through which he developed a dual expertise in investing and asset management.

Martin Laguerre, currently Managing Director, Capital Solutions at CDPQ, is appointed Executive Vice-President, Private Equity and Capital Solutions. In this role, he will report directly to the President and Chief Executive Officer of CDPQ and become a member of the Executive Committee.

Martin Laguerre has over 20 years of experience in private equity and finance. Prior to joining CDPQ in 2019, he was Senior Principal, Power and Renewables at Canada Pension Plan Investment Board (CPPIB, now CPP Investments) in New York. He previously held the position of Managing Director, Global Power and Water Division and Renewables at General Electric, as well as various positions in investment banking and investment management at global financial institutions.

Lastly, a new Chairman of the Board for Ivanhoé Cambridge will be appointed to replace Macky Tall at the beginning of 2021.

“This evolution of our structure demonstrates the depth of expertise our organization can count on and the work accomplished by these leaders in recent years. I would like to thank and congratulate everyone on their new positions at CDPQ. Their advancement is both a source of pride for me and a confirmation of the immense talent that we have built up over the years,” added Charles Emond.

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

For further information: MAXIME CHAGNON, Head of Global Media Relations, + 1 514 847 5493,