Key Takeaways
- • Ziad Hindo, CIO of the C$249.8 billion (US$186.3 billion) Ontario Teachers' Pension Plan, will step down effective December 31, 2023, ending 23 years with the fund, including five as CIO.
- • Stephen McLennan, OTPP's executive managing director for total fund management, has been named acting head of investments effective immediately.
- • Hindo will work with McLennan during a transition period, after which he will primarily serve as an adviser to CEO Jo Taylor.
- • OTPP CEO Jo Taylor credited Hindo with building the investments team, diversifying the portfolio by sector and geography, and leading the climate strategy and diversity, equity and inclusion advocacy.
Summary
Ontario Teachers' Pension Plan (OTPP) CIO Ziad Hindo will leave the organization at the end of 2023, according to a release from the pension fund. Hindo, who oversees the C$249.8 billion (US$186.3 billion) plan, joined OTPP in 2000 and held increasingly senior roles across multiple asset classes before assuming leadership of the investments division in June 2018. His departure is effective December 31, 2023, and marks the end of 23 years with the fund.
OTPP CEO Jo Taylor thanked Hindo for his contributions, saying he had built an outstanding investments team, diversified the portfolio by sector and geography, and led development of an investment strategy that has delivered strong returns for members for over two decades. Taylor also said Hindo played a critical role in establishing the plan's multifaceted climate strategy and was an active advocate for diversity, equity and inclusion, both internally and through engagement with portfolio companies. In his own statement, Hindo said it had been a privilege to lead the investments division and that he was proud of the performance delivered for members.
OTPP has named Stephen McLennan acting head of investments, effective immediately. McLennan, currently executive managing director for total fund management, will provide leadership across investment activities and work closely with Hindo during the transition. Afterward, Hindo will primarily serve as an adviser to Taylor. McLennan joined OTPP in 2003 as a senior investment analyst and was promoted to portfolio manager of fixed income and alternative investments in 2006. He was named director of that group in 2011, later served as managing director for infrastructure and natural resources, and assumed his current role in 2018.
The announcement adds to a series of recent CIO transitions among large pension investors, including CalPERS and MetLife, though the OTPP move is an internal succession with a named acting successor.
OTPP CEO Jo Taylor thanked Hindo for his contributions, saying he had built an outstanding investments team, diversified the portfolio by sector and geography, and led development of an investment strategy that has delivered strong returns for members for over two decades. Taylor also said Hindo played a critical role in establishing the plan's multifaceted climate strategy and was an active advocate for diversity, equity and inclusion, both internally and through engagement with portfolio companies. In his own statement, Hindo said it had been a privilege to lead the investments division and that he was proud of the performance delivered for members.
OTPP has named Stephen McLennan acting head of investments, effective immediately. McLennan, currently executive managing director for total fund management, will provide leadership across investment activities and work closely with Hindo during the transition. Afterward, Hindo will primarily serve as an adviser to Taylor. McLennan joined OTPP in 2003 as a senior investment analyst and was promoted to portfolio manager of fixed income and alternative investments in 2006. He was named director of that group in 2011, later served as managing director for infrastructure and natural resources, and assumed his current role in 2018.
The announcement adds to a series of recent CIO transitions among large pension investors, including CalPERS and MetLife, though the OTPP move is an internal succession with a named acting successor.
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