“You can balance public service and an interesting place to be. This is more challenging than working in a purely private sector job,” enthused Stephen Dowd, senior vice president, infrastructure, for the Ontario Teachers’ Pension Plan (OTPP), in a February interview with Infrastructure Investor.
By March 11, either Dowd or OTPP decided the above did not apply anymore – at least to Dowd’s role in OTPP – with Dowd stepping down. A spokeswoman for the pension confirmed OTPP and Dowd had parted ways, but declined to detail what prompted Dowd and Teachers’ to part.
He will now be replaced by Jane Rowe, senior vice president, private capital, for the C$117 billion (€88 billion; $118 billion) pension plan. According to the spokeswoman, the Plan is still weighing up whether to replace Dowd, who had been with the Toronto-headquartered pension fund administrator in 2008.
Prior to joining OTPP, Dowd worked for Enron Corporation, remaining with the publicly traded company through its highly publicised bankruptcy.
Teachers’ is a pioneering direct investor in infrastructure, taking ownership and operation of Birmingham Airport in the UK, for example. It manages a C$8.7 billion infrastructure portfolio.