A few months after the Celsius Network fiasco, the chief risk officer at Caisse de depot et placement du Québec, Claude Bergeron, announced his retirement.
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Bergeron, who has worked for the institution since 1988, has been head of risk management since 2009.
“It has nothing to do with one file or the other. It is a retirement at the end of an exceptional career of 35 years of service to the foundation,” said a spokeswoman for the institution, Kate Monfette, on Monday.
Loss of $200 million
Last year, the Caisse lost approximately $200 million by investing in the American crypto bank Celsius Network, which found itself in a situation of insolvency in the wake of the fall of bitcoins and other crypto assets.
Celsius was already experiencing management problems at the time of the investment from the Quebec institution, in the fall of 2021, documents published in recent months revealed.
Despite several inquiries from The newspaperClaude Bergeron never made himself available to provide details of the due diligence process carried out on Celsius. In addition, the Caisse has been very discreet about possible improvements to its practice in light of the lessons learned from the Celsius case.
His unknown successor
It is not yet known who will replace Mr Bergeron when he leaves later this year. The transition will take place in a “gradual and orderly” manner, the institution assured.
On its website, the Caisse points out that Claude Bergeron helped introduce “a comprehensive program to strengthen” risk management in the wake of the commercial paper crisis, which seriously shook the institution in 2007 and 2008. .
Sir. Bergeron was trained as a lawyer and was previously responsible for legal affairs at the Caisse. He also worked in the Ministry of Justice and in Revenu Québec at the start of his career.