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Pension Funds

HOOPP President/CEO Jim Keohane to retire in 2020

Jim Keohane

Jim Keohane, president and CEO of the Healthcare of Ontario Pension Plan, Toronto, announced his plans to retire from the pension fund next year, said a news release Wednesday.

Mr. Keohane will continue in his current roles until he retires in March 2020. In the 12-month interim, the board of trustees will conduct a search to find his successor, while Mr. Keohane works "closely with the board to ensure a smooth transition," the news release said.

Mr. Keohane leaves after having spent 20 years at HOOPP, which he joined in 1999 as a manager of equity trading. He became CEO of the C$79 billion ($59 billion) pension fund in 2012.

As a pioneer in the liability-driven investing space, Mr. Keohane introduced and implemented LDI at HOOPP and also developed the pension fund's derivatives capability, the release said.

During his tenure as president and CEO, HOOPP's assets have doubled.

"Jim is well-respected around the world for his pension advocacy, investment strategy and leadership," said Adrian Foster, chairman of the HOOPP board of trustees, in a statement in the news release. "He has built a strong culture and business platform to help ensure the organization will continue to meet its critically important mandate of providing pension security to members."

Earlier this month, HOOPP reported that it had returned a net 2.17% on its investments in 2018, which was below the previous year's return of 10.88%, but exceeded the 2018 custom benchmark return of 0.01%.

The pension plan's funded status was 121% at the end of 2018.