About Canadian Investment Review

Canadian Investment Review is a leading forum for academics, institutional investors and industry practitioners to exchange ideas on capital markets and pension plan investments. It publishes articles that offer new insight into relevant themes and practices within the institutional investment community. It also hosts annual signature conferences for defined benefit pension plan sponsors, including the Global Investment Conference, Risk Management Conference and Investment Innovation Conference.

Editorial Advisory Board Members

Ryan Bradley

Christopher A. Brown

Chuck Bruce

Duncan Burrill

Guy Burry

Jason Campbell

Orla Cousineau

James C. Davis

Michael Dodd

Simon Fréchet

Paul Halpern

Lynn Healey

Brenda King

Nelson Lam

Donna Mathieu

Alison McKay

Wendy Mizuno

Theva Naidoo

Jana Steele

Bruce Winch

Ryan Bradley

Ryan Bradley

Investment officer, Province of Prince Edward Island

Ryan Bradley is responsible for the oversight of the Province of Prince Edward Island Master trust pension investments. He oversees defined benefit pension assets of three pension plans under the master trust. The $3 billion trust assets are actively managed through outside investment managers over a wide span of asset classes.

Bradley is also responsible for the debt issuance of the province along with the sinking fund investments. He holds an MBA from the University of Prince Edward.

Chris Brown

Christopher A. Brown

President and chief executive officer, LAPP Corporation

Christopher Brown is the President and Chief Executive Officer of LAPP Corporation, the administrator, and trustee of the pension fund, of the Local Authorities Pension Plan LAPP. The Corporation also supports the LAPP Sponsor Board. LAPP serves the health, municipal and education sectors in Alberta and is the largest pension plan in the province, with approximately 260,000 members and assets in excess of C$44 billion.

Prior to joining LAPP in 2015, Brown practiced law for over 20 years with leading national law firms and was a founder and managing partner of a boutique human resources law firm. Brown served as Co-Chair of the Alberta-British Columbia Joint Expert Panel on Pension Standards in 2007-2008, and as the President of the Association of Canadian Pension Management from 2010 to 2013. Brown holds a Bachelor of Commerce from the University of Alberta, a Bachelor of Laws from Osgoode Hall Law School, York University and is an active member of the Law Society of Alberta.

Chuck Bruce

Chuck Bruce

Chief executive officer, Provident10

Chuck Bruce is a senior executive with broad based experience in finance, operations, and corporate governance.

In December 2015, Bruce returned to Newfoundland as the inaugural CEO of Provident10. Provident10 is a private sector non‐profit corporation responsible for overseeing the assets and administration of the Public Service Pension Plan for 57,000 current and former public‐sector workers in Newfoundland and Labrador. He was previously the CEO of the Nova Scotia Public Service Long Term Disability Plan Trust Fund.

Bruce holds the Chartered Professional Accountant, Chartered Director and Certified Financial Planner professional designations.

Duncan Burrill

Duncan Burrill

managing director and chief executive officer, CBC Pension Plan

Duncan Burrill is the managing director and chief executive officer of the CBC Pension Plan. In this role he is responsible for coordinating a team of 24 dedicated employees who manage the plan’s $7 billion investment portfolio and provide outstanding pension administration services to the more than 19,000 members of the plan.

As the chief executive officer, he works in partnership with the CBC Pension Board of Trustees to accomplish the organization’s mission and vision. Burrill joined the CBC Pension Plan in 2005 as the risk manager and played a key role in the implementation and refinement of the plan’s liability-driven investment strategy.

Burrill holds a Bachelor of Commerce degree from Concordia University and a Master of Business Administration degree from Queens University.

Guy Burry

Guy Burry

Chair of pension investment committee, York University

After initially attending the University of Toronto studying physical health and education, Guy Burry graduated from York University in 1982 with a BA in Sociology and Economics.

Burry has more than 35 years’ experience in pensions, systems, investments, human capital and asset consulting, having worked in all facets of the investment services industry. His experience includes designing, building and implementing global custody systems for National Trust and Royal Trust; vice-president at Footprint Software; chief information officer with SEI Financial; director and partner with Connor, Clark and Lunn Private Capital; and independent asset consultant. Burry has also been involved in several start-ups and entrepreneurial ventures. He is currently Chairman of Craigellachie Corporation.

Burry has a keen interest in impact investing and the environment. He has made several investments in the sector and is chief strategist of a family office that seeded two venture capital firms dedicated to water, clean technology and sustainability. He is also currently a council member of the Federation of Canadian Municipalities – Green Municipal Fund and is chair of the investment committee. Burry was also instrumental in helping the Toronto Atmospheric Fund move to an impact investing platform as its vice-chair for 12 years.

Burry is a graduate of the Institute of Corporate Directors Governance College at the Rotman School, attaining his ICD.D designation in 2004 (DEP 1). His Board experience includes Federation of Canadian Municipalities – Green Municipal Fund, Axsium Group, Greenchip Financial, Royal St. Georges College, Enactus Canada, Taylor Statten Camping Bursary Fund, Tenth Power Technologies Corp, Knightsbridge Human Capital, Muskoka Algonquin Healthcare and Toronto East General Hospital. He is an advisor to the Ivey Foundation and the Greenbelt Foundation. He completed a twelve-and-a-half-year term of service on the York University board of governors in 2013 and is past chair of the York University Alumni Association. While on the York University board he chaired the investment committee and was a member of both the investment and executive committees. Burry has been a member of the pension fund board of trustees since 2003 and has been a member of the pension fund investment committee since 2002 and chair since 2003.

Jason Campbell

Jason Campbell

Principal, Eckler

Jason Campbell joined Eckler’s Investment Consulting practice in 2006. As a principal within its investment consulting practice, Campbell provides investment strategy advice to a wide range of clients including defined benefit and defined contribution pension plans, endowment/foundations and non-profit organizations. In addition to consulting responsibilities, Campbell is a member of the Investment Research Committee which oversees investment manager and strategy research. Campbell’s specific area of expertise is alternative investments including infrastructure, real estate, private equity/debt strategies and hedge funds.

Campbell is an active volunteer within the pension and investment community. He has authored a number of articles and presented on pension investment strategy at numerous conferences. Campbell is currently a volunteer on the CNIB’s National Investment and Pension Committee and is a past committee member on the Toronto CFA Society’s External Relations and Advocacy Committee, the CAIA Canada Education and Events Committee and has participated in the semi-annual exam grading of the Chartered Alternative Investment Analyst Association.

Campbell graduated from the University of Western Ontario in 1999 with an Economics degree. He has also earned the designations of Chartered Financial Analyst and Chartered Alternative Investment Analyst.

Orla Cousineau

Orla Cousineau

Executive director, pensions, University of British Columbia Faculty and Staff Pension Plans

Orla Cousineau is the executive director, pensions at the University of British Columbia. She is responsible for overseeing the management and administration of UBC’s staff and faculty pension plans, with assets of approximately $4.5 billion.

Cousineau also sits on the board of directors of UBC Investment Management Trust.

Prior to joining UBC, Cousineau was a Partner with Mercer in the retirement consulting business for over 25 years.

Cousineau holds an LL.B. from UBC and is an active member of the Law Society of British Columbia.

James Davis

James C. Davis

Chief investment officer, OPTrust

James C. Davis is Chief Investment Officer of OPTrust, one of Canada’s largest pension funds with net assets over $20 billion and investment professionals in Toronto, London and Sydney.

Davis joined OPTrust in 2015. He leads the organization’s investment strategy and oversees its diversified portfolio spanning the globe with public market, private market, infrastructure, and real estate assets in North America, Europe, Developed Asia and emerging markets.

Davis has over 25 years of strategic investment planning and leadership experience, including proven results in liability driven investing and portfolio design. Most recently, he held the role of Vice President, Strategy and Asset Mix and Chief Economist at Ontario Teachers’ Pension Plan (Teachers’).

Before joining Teachers’, Davis was President of FuturesTrend Capital Corporation in Prince Edward Island and Vice President & Head, Global Fixed Income & Currencies at RBC Global Investment Management in Toronto.

Davis is widely recognized as an engaging speaker in a broad range of forums within the pension industry, and is known for his insights on global economics, portfolio construction and investment strategy.

In addition to degrees in Mathematics and Meteorology, Davis holds an MBA in Finance from Dalhousie University and is a CFA charterholder.

Michael Dodd

Michael Dodd

Director, pensions treasury and shareholder services, The Co-operators Group Limited

Michael Dodd joined the Co-operators Group in 2003. He is currently director of pensions, treasury, and shareholder services at the Co-operators Group. In his role, he oversees the management of the Co-operators group defined contribution pension plan with assets under management of over one billion dollars. Dodd also sits on the Pension Committee of a defined benefit plan for Co-operators subsidiary The Cumis Group.

Dodd is also a long-standing member of the Association of Canadian Pension Management Ontario Regional Council. He has also participated in many industry conferences including as a speaker or panelist from time-to-time.

Simon Frechet

Simon Fréchet

Chief investment officer, retirement programs, Bruce Power

Simon Fréchet is chief investment officer, retirement programs at Bruce Power, overseeing the investment and risk management of Bruce Power’s defined benefit pension plan and funds associated with Bruce Power’s end of life obligations. He has over 30 years of experience in the pension and investment industry.

Fréchet is a CFA charterholder and is both an Associate of the Society of Actuaries and the Canadian Institute of Actuaries. He holds a degree in quantitative economics from the Université de Paris X. Fréchet sits on the Board of Directors of the Pension Investment Association of Canada and participates on PIAC’s Risk Management Committee.

Paul Halpern

Paul Halpern

Professor emeritus of finance at the Rotman School of Management, University of Toronto

Paul Halpern is director, client portfolio services – Canada of LSV. In his position at LSV, Halpern is responsible for managing a number of the firm’s client relationships as part of the Research and Investment Team.

Halpern received his Ph.D. degree from the University of Chicago in Finance and has published research and applied papers for both academic and practitioner journals. He has also published a corporate finance textbook, Canadian Managerial Finance and is the editor of Financing Growth in Canada, an examination of Canadian capital markets. In addition he, along with co-authors, wrote ‘Back From the Brink’, a discussion and analysis of the financial crisis in Canada.

Halpern has also served as a consultant to governments, regulatory authorities and corporations in the corporate finance, capital markets, and securities areas.

Lynn Healey

Lynn Healey

Chief investment officer, Teachers’ Pension Plan Corporation

Lynn Healey is the Chief Investment Officer with the Teachers’ Pension Plan Corporation, the trustee and administrator of the Teachers’ Pension Plan in Newfoundland and Labrador, with approximately 6,000 active members and 9,000 pensioners.

In this role, Healey is responsible for all facets of the investment and treasury function for the corporation, and for the development and execution of a sustainable, long-term investment strategy for the plan. The plan’s investment strategy is actively managed and Healey and her team oversee the activities of approximately 20 investment managers across each of the plan’s strategic asset classes, with a diversified mix of investment philosophies and approaches.

Prior to joining the corporation in September 2017, Healey practiced in public accounting for more than 20 years, was a partner with Ernst & Young, providing transaction advisory and audit services to her clients and practiced in Toronto and St. John’s.

Healey is active in her community as a volunteer. She is a director and treasurer with the Board of Directors of Special Olympics Newfoundland and Labrador and the Royal St. John’s Regatta Committee, and a director with CPA Newfoundland and Labrador. Healeyalso volunteers with the Dr. H. Bliss Murphy Cancer Care Foundation and Choices for Youth. Healey resides in St. John’s with her husband, son and step-son.

Brenda King

Brenda King

Former treasurer, SickKids

Brenda King has over 25 years of experience in the selection and monitoring of investments, performance evaluation, pension governance and risk management and has worked collaboratively with boards, pension, investment committees and audit and finance committees.

Currently, King is a member of the investment sub-committee at GE Canada and a member of the Canadian Investment Review advisory board. She is also secretary-treasurer of the CFA Society Toronto Board, chair of its finance committee and a former member of its audit committee.

King is also a member of the member services committee at the Pension Investment Association of Canada and served as ex-Chair of its member services committee.  She served as chair of PIAC’s finance and audit committee prior to becoming chair of PIAC in 2018 and past chair in 2019.

King holds CPA, CA and CFA designations and successfully completed the NFP Governance Essentials Program (ICD and the Rotman School of Management, University of Toronto).

King was the Treasurer at the Hospital for Sick Children for 20 years where she was responsible for investments relating to SickKids pension plan, SickKids foundation and hospital investments.  She was also responsible for financial reporting and external audit for the pension plan and the hospital, treasury management including banking and credit rating agency relations and debt management.

Nelson Lam

Nelson Lam

Senior vice-president, equity and alternative investments at Trans-Canada Capital Inc.

Nelson Lam brings over 20 years of experience in the asset management industry acquired in the institutional, retail and asset consulting fields.

In his current position as senior vice-president, equity and alternative investments at Trans-Canada Capital Inc., a subsidiary of Air Canada, Lam oversees all externally managed mandates across public equities and alternative investment strategies, including real estate, infrastructure, private equity, private debt and hedge funds. He is also a longstanding member of TCC’s investment committee which benefits from his strong knowledge in establishing investment policies, selecting and monitoring third-party investment managers, as well as making asset allocation decisions.

Previously known as Air Canada Pension Investments, TCC is a registered investment management firm managing over $20 billion of assets on behalf of institutional clients, the largest being Air Canada’s pension plans.

Prior to joining TCC in 2009, Lam held various positions of increasing responsibility at Mercer Investment Consulting, the City of Montreal Pension Plan, Gestion FÉRIQUE and Air Canada Pension Investments.

A CFA charterholder, Nelson holds a Bachelor of Science in Actuarial Mathematics from Concordia University. He is also an active member of various board and advisory committees of real estate, infrastructure, private equity and private credit investment funds.

Donna Mathieu

Donna Mathieu

Vice-president, pension investments and treasurer, NAV CANADA

As vice-president, pension investments and treasurer, Donna Mathieu is responsible for the investment and management of the assets of the NAV CANADA pension plans and the corporate treasury function of NAV CANADA. She is also a member of NAV CANADA’s executive management committee.

Over her career, Mathieu has held progressively senior financial roles in the areas of investment management, external and internal audit, transaction services and financial reporting.

Prior to joining NAV CANADA, Mathieu was a partner with KPMG, where she began her career in 1989. She has a Bachelor of Commerce degree and holds both the Chartered Financial Analyst and Chartered Professional Accountant designations.

Alison McKay

Alison McKay

Chief executive officer, Saskatchewan Healthcare Employees’ Pension Plan

Alison McKay leads a team of professionals who administer the largest defined benefit pension plan in Saskatchewan, providing retirement income security for the province’s healthcare workers. As chief executive officer of the Saskatchewan Healthcare Employees’ Pension Plan, she works with the board of trustees to establish the strategic direction of the Plan, which serves 57,000 members and 50 participating employers, and manages $7 billion in assets.

A chartered professional accountant, McKay was appointed CEO of SHEPP in 2014, following six years with the organisation in various senior leadership roles including Interim CEO, chief financial officer, director of finance and administration and operations manager. Before joining SHEPP, she held various pension administration and financial management roles with SaskTel and SaskEnergy.

Devoted to promoting pension adequacy and eager to support meaningful discussions about public sector pension policy, McKay participates in the broader national scene as a member of the Canadian Public Pension Leadership Council and on the Board and Pension Committee of the Victorian Order of Nurses.

McKay has a BA in Mathematics and a Bachelor’s in Administration from the University of Regina. She also completed the Berkeley Executive Leadership Program and earned Certificates from Foundations of Trust Management Standards and Pension Plan Administrators. She is a chartered professional accountant and a member of several professional associations.

McKay is passionate about spending time outdoors. In her free time, you’ll find her kayaking and exploring Canada’s parks and lakes.

Wendy Mizuno

Wendy Mizuno

Group head, pensions and benefits, George Weston Limited

Wendy Mizuno is Group Head, Pensions and Benefits for George Weston Limited and Loblaw Companies Limited. The group, which now includes Shopper’s Drug Mart, is the largest non-government employer in Canada with more than 200,000 employees. Mizuno joined Weston this year with more than 25 years of client management and retirement and investment consulting experience.

Prior to joining George Weston Limited, Mizuno was a Partner and senior consultant in the Wealth business in Mercer’s Toronto office and the managing partner of the Retirement Practice at Morneau Sobeco (now Morneau Shepell).

Mizuno is a Fellow of both the Society of Actuaries and the Canadian Institute of Actuaries. She earned an honours bachelor of science in actuarial mathematics and management science from the University of Manitoba. Mizuno is also a member of the Actuarial Standards Oversight Council.

Theva Naidoo

Theva Naidoo

Director, pension fund, Hydro One Pension Plan

Theva Naidoo has been in the investment industry for more than 25 years. Naidoo has notably worked at the Alberta Investment Management Corporation as a Senior Portfolio Manager (External Funds) and was Principal and Investment Consultant at Mercer (Toronto).

Naidoo presently holds the position of Director, Pension Fund at Hydro One, a position he has held for just over seven years. Naidoo is actively involved in the pension industry and serves on not-for-profit investment committees and several Canadian pension industry bodies.

Naidoo spent the formative years of his career in South Africa, primarily as a portfolio manager with several large investment management firms. Earlier in his career he served as Divisional Investment Manager with Anglo American plc in Johannesburg. Naidoo was also involved in investment education in South Africa.

Naidoo’s academic background is in International Relations and Commerce.

Jana Steele

Jana Steele

Partner, pensions and benefits group, Osler, Hoskin and Harcourt LLP

Jana Steele is chair of Osler’s pensions and benefits department. Steele has significant expertise and experience regarding plan design, including innovative plan designs, such as shared risk and target benefit plans – and has written extensively on such plans. Steele also has extensive experience dealing with pensions and benefits in the context of corporate transactions. Steele advises on a wide array of pensions and benefits issues, such as plan structure, governance, administration, compliance, trustee obligations, surplus matters, plan conversions, plan mergers, transfers and plan wind-ups, as well as pensions and benefits issues arising in insolvencies and corporate restructurings. Steele also provides advice on supplementary plans and benefits matters.

Steele’s clients have included universities, non-profit entities, governments, multinational corporations, and boards of trustees of shared risk plans, jointly-sponsored pension plans and multi-employer pension plans.

Steele is a past chair of the pensions and benefits executive of the Ontario Bar Association. She has been a guest lecturer at the University of Toronto Faculty of Law, Osgoode Hall Law school, Western Law, and the University of Calgary. She has written and spoken extensively on a wide array of pension matters. Steele has been very involved with the International Pensions and Employee Benefits Lawyers Association, including as past conference chair and past Steering Committee chair.

Steele was a member of the Financial Services Commission of Ontario’s legal advisory committee for several years. She has recently been appointed to the Financial Services Regulatory Authority of Ontario’s new technical advisory committee for public sector pension plans.

Bruce Winch

Bruce Winch

Head of Canada, T. Rowe Price

Bruce Winch is the head of Canada for T. Rowe Price and is a member of their Americas leadership team. He plays a key role in managing and guiding the group’s institutional and intermediary business strategies. T. Rowe Price is one of the world’s largest independent, global asset managers.

Winch has over 30 years of institutional investment experience. Prior to joining T. Rowe Price in 2011, he developed and managed all facets of Invesco’s institutional business in Canada. Based on his considerable experience, Winch has assisted numerous pension funds meet their investment objectives.

Winch graduated from the University of Guelph with a degree in Management and Economics.

Contex Group Inc.