OTPP leadership changes continue with new CIO appointment

Ziad Hindo’s promotion and Jo Taylor assuming the new role of executive managing director for global development are the latest moves in a reshuffle at the Canadian pension this year.

Ontario Teachers’ Pension Plan has filled its chief investment officer position, which has been vacant since April, with an internal appointment. It has also created the new role of executive managing director, global development.

Ziad Hindo, who has worked for OTPP for 18 years, took over as CIO earlier this week. He most recently led the pension’s capital markets group.

Ziad Hindo

The C$189.5 billion ($142.1 billion; €122.9 billion) pension manager also announced the appointment of Jo Taylor to the new position of executive managing director for global development. He joined OTPP in 2012 and previously led the pension’s international investment operations based in London and Hong Kong. He is relocating to Toronto, the pension fund said in a statement.

Both Hindo and Taylor will report to OTPP chief executive Ron Mock and will “design and execute the pension plan’s international investment strategy”, according to the statement. The pension fund did not provide further details about Taylor’s newly created role and declined to comment beyond the press release.

Jo Taylor

Mock has served as interim CIO since April, when Hindo’s predecessor, Bjarne Graven Larsen, resigned two years into the position. His resignation was announced as OTPP published its annual report showing a 9.7 percent net return, in line with the pension’s average.

Infrastructure, which totalled C$18.7 billion at the end of last year, was the second best-performing asset class with an annual return of 18.2 percent. That was slightly below private equity’s 18.8 percent and ahead of real estate’s 6.9 percent rate of return.

OTPP’s infrastructure group had a change of leadership this year following the abrupt departure in February of Andrew Claerhout, who had served as head of the group for 13 years. Dale Burgess, previously managing director of Latin America at the pension fund, served as interim head of the group until May when he assumed the role permanently.

The change in leadership came after a strategic review that broadened the pension’s investment horizons, including the creation of a greenfield team, led by Olivia Steedman, and a willingness to target core-plus assets such as UK crematorium business Westerleigh, in addition to new geographies.