Jeff Wendling, president and CEO of the Healthcare of Ontario Pension Plan, Toronto, will retire in 2025 after 26 years at the pension fund.
Wendling, who was appointed president and CEO in April 2020, will remain in the position until the board of trustees appoints a successor in 2025 and “will work closely with the board to ensure a smooth transition,” said a Sept. 25 news release.
Before being named president and CEO, Wendling served as HOOPP’s executive vice president and chief investment officer. He initially joined HOOPP in 1998 as a senior portfolio manager on the public equities team.
HOOPP, which serves Ontario's hospital and healthcare-sector workers, returned a net 9.4% in calendar 2023, below the benchmark of 10.4%.
HOOPP’s net assets totaled C$112.6 billion ($84.9 billion) at the end of 2023.
“Under Jeff's leadership, HOOPP has been remarkably successful in implementing its liability-driven investing approach and generating a steady stream of pensions for Ontario healthcare workers in a cost-efficient way,” said Sebastien Betermier, associate professor of finance at the Desautels Faculty of Management at McGill University in Montral and the executive director of the International Centre for Pension Management.
HOOPP has managed to “maintain a steady funding surplus despite turbulent market conditions in recent years,” , Betermier added.
