University Pension Plan leaders work to deliver ‘pension promise’: The Globe and Mail

The University Pension Plan Ontario (UPP) officially took over the pension plans of the University of Toronto, Queen’s University and the University of Guelph on July 1, ushering in a new approach towards public sector asset management, the Globe and Mail reports.

Headed by chief executive Barbara Zvan, the new jointly sponsored pension plan oversees $10.5-billion in retirement savings and is looking to sign up more members, with Trent University’s faculty pension plan set to come aboard next year. Zvan told the Globe that the UPP’s primary mission is to deliver on the “pension promise” by forging a united pension plan “with talent that can innovate, along with making use of increased size and scale.”

To that end, Zvan said she’s prioritized culture in putting together the UPP’s 40-strong team, hiring professionals with a track record of creativity and persistence. That includes chief financial officer Henry Kim, who was one of the first employees of the Canada Pension Plan Investment Board, and acting general counsel Christine Chen, former legal and tax consultant at U.K.-based private equity firm Cinven.

Going forward, the UPP plans to hire a chief investment officer by September and lay out its investing and risk management strategies, the Globe reported.

Read the story in the Globe and Mail