Ontario Teachers names next president, CEO

Jo Taylor has been named the new president and CEO of the Ontario Teachers’ Pension Plan, Toronto, effective Jan. 1.

Mr. Taylor, who is currently executive managing director, global development, will succeed Ronald Mock, who will retire Dec. 31 after nearly two decades at the C$191.1 billion ($146.1 billion) pension plan, a new release said Tuesday.

In his current role, Mr. Taylor oversees the investments teams operating in Ontario Teachers’ international offices and sets the strategy, reviews investment proposals, and manages key relationships, the news release said.

There is currently no additional information on whether Mr. Taylor would continue to lead global development, but “there will be conversations on how that goes (moving) forward,” a spokeswoman for OTPP said Tuesday.

Mr. Taylor joined Ontario Teachers’ in 2012 to lead its Europe, the Middle East and Africa operations.

“We selected Jo (as president and CEO) because he will be an excellent driver of the Ontario Teachers’ brand, and for his ability to advance the organization’s global effectiveness and build for the future,” board Chairman Steve McGirr said in a statement.

“We believe that Jo will enhance the total-fund approach, address the challenges of today’s investment environment, and uphold the tradition of successfully delivering on the pension promise for our members.

He is also known for building high-performing, multicultural teams globally,” Mr. McGirr added.

The pension plan’s outgoing chief, Mr. Mock, will continue to lead as CEO until his year-end retirement and assist Mr. Taylor during the leadership transition, according to OTPP.

Under Mr. Mock’s leadership, the pension fund’s net assets have grown by C$50.3 billion since Dec. 31, 2013, reaching C$191.1 billion as of the end of 2018. Ontario Teachers also reported a five-year annualized total-fund net return of 8%, and a cumulative five-year net value added of $14.2 billion, which is 1.5% above the policy benchmark.

During Mr. Mock’s tenure as CEO over the past six years, he also oversaw the growth of Ontario Teachers’ London and Hong Kong offices, according to the news release.

Last year, the pension fund returned a net 2.5%, which was above its custom benchmark’s 0.7% return, Pensions & Investments reported in April. OTPP’s funded status as of Jan. 1 was 104%.

“As a direct result of Ron’s strategic vision and leadership, Ontario Teachers is well positioned for the future,” Mr. Taylor said in statement. “He has guided the organization through a complex competitive landscape, ensuring the sustainability of the plan, and advancing our talent and technology.”