Jim Leech, the CEO of the Ontario Teachers’ Pension Plan is to step down after more than a decade at the investor according to The Globe and Mail.
Leech, pictured, oversees the management of the pension fund and the administration of pensions for 303,000 plan members.
He joined Teachers’ in 2001 to lead Teachers’ Private Capital and was appointed president & CEO in 2007. Under his leadership, the organization became one of the world’s largest private equity investors.
Before joining Teachers’, Leech was president and CEO of Unicorp Canada Corporation, one of Canada’s first public merchant banks, and Union Energy., then one of North America’s largest integrated energy and pipeline companies.
Last month, Teachers announced plans to improve its funded status, and address a C$5.1bn funding shortfall.
Earlier this week the pension plan reported a 13 per cent return for 2012, with total assets of C$129.5bn.
According to Reuters, the institutional investor said it would look to grow its exposure to emerging markets from 15 per cent to near to 20 per cent, with plans to open an office in Hong Kong. The report said that the pension plan was keen to explore alternatives outside of Europe and North America.
Leech said, “You look at Europe and if we get zero [per cent growth] for the next five to ten years we’ll be lucky, and North America one to ten [per cent]. So the emerging market, with China having a bad year at seven, doesn’t look so bad.”
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