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Pension Funds

OPTrust’s Hugh O’Reilly resigns as president, CEO

Hugh O'Reilly resigned as president and CEO of OPTrust, Toronto, effective Monday, a spokeswoman for the pension fund administrator confirmed.

Mr. O'Reilly left OPTrust, which manages the assets of the C$20 billion ($15 billion) Ontario Public Service Employees Pension Plan, Toronto, to pursue other interests, the spokeswoman said.

"Mr. O'Reilly has brought many positive changes to OPTrust in the four years he led the organization, including the introduction of many innovative strategies such as Member-Driven Investing and OPTrust Select, the first new defined benefit plan in Ontario in a generation," a new release announcing his departure said.

With the resignation of Mr. O'Reilly, Chief Financial Officer Doug Michael will act as interim president and CEO, the spokeswoman confirmed. Mr. Michael has been with OPTrust for more than nine years and became the CFO in 2015.

OPTrust's board of trustees formed a committee to conduct a search for a permanent president and CEO, the news release said.