(December 19, 2013) — The Ontario Municipal Employees Retirement System (OMERS) has appointed current CIO Michael Latimer as its new president and CEO following Michael Nobrega’s retirement at the end of March next year.
Latimer will continue serving as CIO but will take on CEO responsibilities on April 1, 2013.
“I feel very good about taking on the CEO role following Michael Nobrega’s retirement,” Latimer said in a statement. “As a direct result of Michael’s leadership over the past several years, we have a clear strategy, a strong bench, an innovative culture, and very engaged employees right across the enterprise.”
The succession process had been underway since 2010, according to the C$60 billion fund. The two-time member of aiCIO’s Power 100 has been working with the board and Nobrega to build the experience and knowledge needed to take over as CEO.
“I am honored by the board’s confidence in choosing me as the next OMERS CEO and I look forward to working closely with Michael, our leadership team and the board over the next few months to continue what has been a very smooth transition,” Latimer said.
Prior to his role as OMERS CIO, Latimer was president and CEO of Oxford Properties Group and COO of Borealis Capital Corporation. He holds a bachelor of business administration from McMaster University.
“Since his association with the OMERS enterprise began, Michael Latimer has taken on new challenges with enthusiasm, has been a great leader and has displayed an unparalleled dedication to OMERS,” Nobrega said. “His depth of understanding and commitment will be a great benefit to OMERS members, employers and stakeholders.”
Latimer told aiCIO in October that OMERS operates differently from other Canadian funds—he looks to execute strategies “holistically” across the fund’s many branches.
“While the major Canadian funds all look somewhat alike, they’re actually quite different in how they execute,” Latimer said. “Foremost, we’re partners.”
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