Ontario Teachers’ Pension Plan CIO Ziad Hindo to Step Down at Year’s End

The C$249.8 billion pension fund has named Stephen McLennan acting head of investments.

Ziad Hindo

Ziad Hindo

Ziad Hindo, CIO of the C$249.8 billion ($186.3 billion) Ontario Teachers’ Pension Plan, announced he will be leaving at the end of the year after 23 years with the pension fund, including the past five as CIO.

“I would like to thank Ziad for his many contributions in his 23 years at Ontario Teachers’,” Jo Taylor, OTPP’s CEO, said in a release. “Through his leadership, Ziad has built an outstanding investments team, diversified the portfolio by sector and geography, and led the development of the investment strategy that has delivered strong returns for members for over two decades.

Taylor added that Hindo “also played a critical role in establishing our multifaceted climate strategy and as an active advocate for action on diversity, equity and inclusion, both internally and through engagement with our portfolio companies.”

Hindo joined Ontario Teachers’ in 2000, working his way up to increasingly senior roles in multiple asset classes before assuming the leadership of the investments division in June of 2018.

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“It has been a privilege to lead the investments division as CIO over the past five years and to be part of the plan for over two decades,” Hindo said in a release. “I am proud of the performance we have delivered in service of our members, and I am confident the plan is well positioned for continued success over the long term.”

OTPP has named Stephen McLennan acting head of investments, effective immediately. According to the pension fund, McLennan, currently the OTPP’s executive managing director for total fund management, will provide leadership across its investment activities. He will also work closely with Hindo during a transition period, after which Hindo will primarily serve as an adviser to Taylor.

McLennan first joined OTPP in 2003 as a senior investment analyst and has held positions of increasing responsibility in the capital market and private asset related groups. He was promoted to portfolio manager of fixed income and alternative investments in 2006 before being named director of the group in 2011. He also held the role of managing director for infrastructure and natural resources before being elevated to his current position in 2018.

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New Jersey Police, Fire Pension Seeks CIO, Plans to ‘Dramatically’ Expand Staff

The $31 billion pension fund has also issued an RFP for a custodial services provider.




The $31 billion Police and Firemen’s Retirement System of New Jersey is looking for a permanent CIO to lead the investment staff for the multiemployer defined benefit plan, which has more than 80,000 members at 579 different companies.

According to a job posting from executive search firm CBIZ EFL Associates, the CIO will be responsible for helping the pension fund’s board of trustees fulfill its fiduciary duties and manage its assets. In addition to leading the investment staff, the CIO will be expected to monitor investment performance, suggest asset allocation and investment policy adjustments, and ensure compliance with all board policies and applicable laws and regulations.

Working with the investment staff and general investment consultant, the CIO will be responsible for all investment reporting and external investment manager evaluation and selection. The CIO will also be required to work collaboratively with the New Jersey state treasurer and the director of the New Jersey Division of Investments.

The CIO “must be a strong investment strategist” and will be responsible for, along with the external investment consultants, providing recommendations to the executive director, the board of trustees and the board’s investment committee.

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Some other responsibilities include:

  • Providing investment performance and other key metrics regularly to the executive director and board;
  • Developing and sharing recommended asset allocation and investment policy changes;
  • Ensuring accurate and prompt distribution of funds to selected external investment managers;
  • Leading, mentoring and managing the investment staff, finance staff and compliance staff; and
  • Effectively communicating the overall investment strategy to diverse audiences.

The pension fund’s asset allocation is 24% U.S. large-cap equity, 10% private equity, 9.5% non-U.S. developed index, 8% private debt, 7% U.S. Treasurys, 6% emerging markets equity, 6% global multi-sector fixed income, 5% U.S. corporate credit, 5% PFRS Mortgage, 4% U.S. small/mid cap equity, 4% real estate value add, 3% real estate core, 3% infrastructure, 2% cash, 2% non-U.S. developed small cap index and 1.5% emerging markets small cap equity.

Including the CIO and a deputy CIO, the posting stated the pension fund’s investment staff is expected to “increase dramatically” as it seeks to grow to approximately 36 members from the current 23.

The pension fund also issued a request for proposals for a custodial services provider, saying the fund is “seeking a cost-effective custodial bank to assist with safekeeping and accounting for the fund’s assets.” Other responsibilities include settling securities transactions, receiving dividends and interest, providing foreign exchange services, paying fund expenses, reporting failed trades, reporting cash transactions, monitoring corporate actions at portfolio companies and tracing loaned securities.

Proposals are due by September 18.

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