Michelle Ostermann

Chair (Pension Protection Fund)

UK

Michelle joined the PPF as CEO in April 2024. She has over 30 years of experience in the global pensions and investment industry and has held senior positions at several leading firms including Sun Life Global Investments where she managed a $10 billion fund-of-funds portfolio; Manulife Investments where she headed up a $35 billion annuity product line; and British Columbia Investment Management where she led the $150 billion total fund strategy, investment risk, client portfolios and communication teams.

Michelle was Managing Director at Railpen Investments in the UK where she was ultimately responsible for the £30 billion railway workers’ pension fund. In this capacity, she oversaw the entire investment business including investment and operational activities. Most recently Michelle was the Senior Vice President and Global Head of the $120 billion Capital Markets team at PSP Investments, the fourth largest pension fund in Canada.

Michelle was appointed Chair of the global pension industry association, International Centre for Pension Management (ICPM), in January 2024 after five years as Vice Chair. She also served as Vice Chair of the Pension Investment Association of Canada (PIAC). She has a Bachelor of Science (BSc) degree in Economics and both the Chartered Financial Analyst (CFA) and the Institute of Corporate Directors (ICD.D) designations.

Michelle is recognised as a thought leader in the pensions industry, having contributed significantly to the global landscape. She is well recognised as an inspirational leader and excellent communicator and very passionate about the growing and important role asset owners play in financial systems. Her extensive global network gives her an exceptionally broad perspective on best practices and trends. She is best known for her experience in governance, strategy and risk management. Throughout her career she has developed a track record of transforming businesses and cultures.

Matilde Segarra

Vice-Chair (APG US)

United States

Matilde Segarra (re)joined APG in February 2022 as Chief Executive Officer APG US. In this role she is responsible for overseeing APG US’ investment activities and operations to ensure they produce the desired results and are consistent with the overall strategy and mission of the company and APG’s clients. In this role she serves as the Chairperson of the APG US Executive Board, the Crisis Management Team the Change Initiative Board, and the Private Equity Co-Investment Committee. She also serves as co-Lead of APG Asset Management’s Global People & Culture Strategy and is a proud Board sponsor of the APG US Women’s Forum.

From 2019-2021 Matilde worked for Fidelity International as Chief Risk Officer Asia Pacific. In this role she was responsible for the implementation and oversight of FIL’s Global Risk Management Framework for all risk types across FIL’s APAC business locations. Aside from her APAC risk oversight duties she also coordinated the build-out of Fidelity’s Global Risk monitoring and oversight framework for Sustainable Investing and Corporate Sustainability and represented Global Risk in the Sustainable Investment Oversight Committee and Corporate Sustainability Committee. During her tenure at Fidelity, she served on the Board of Fidelity’s Korean and Taiwan business entities and as the Manager in Charge for Risk Management in Hong Kong.

Between 2005 and 2018 she held various positions at APG Asset Management, starting as a Portfolio Manager on APG’s Global Tactical Asset Allocation team based in Amsterdam. In 2010 she transferred to APG Asia in Hong Kong where she was appointed to the role of Global Co-Head of Investment Risk Management in 2012. She relocated to the United States to join APG US in 2015 where she was promoted to Chief Finance and Risk Officer US in January 2018.

Prior to APG, Matilde has worked for AEGON Asset Management (The Hague) and ABN AMRO Rothschild Bank (Hong Kong) in Investment Strategist and Capital Market Analyst roles.

Matilde holds a MA degree in Economics from Utrecht University and is a CFA Charter Holder.

She speaks English, Spanish, Italian and Dutch.

Stewart Brentnall

New South Wales Treasury Corporation

Australia

Stewart Brentnall joined TCorp as its first Chief Investment Officer in March 2017. The position was created following a merger between TCorp and two other NSW funds (State Super and iCare, formerly NSW WorkCover). He oversees asset allocation and manager selection. In this position, Mr Brentnall is responsible for running an aggregate portfolio of $110bn, representing defined benefit pension assets, insurance reserves, an infrastructure recycling assets and an intergenerational sovereign wealth fund.  Mr Brentnall has led the evolution of TCorp’s investment model to a Total Portfolio Approach.

From 2010-2017, Mr. Brentnall was Chief Investment Officer for ANZ, one of the large Australian banks. In 2009, ANZ bought out its joint venture with ING to strengthen its position in wealth management. He was brought in to oversee the transition, and to design and implement its asset management strategy.

Mr. Brentnall was previously Head of Investment Solutions at BT Financial Group, a newly created business unit to manage external funds. He also held various leadership roles in asset management at Queensland Investment Corporation (QIC), Goldman Sachs and Schroders. He began his career as an auditor with Deloitte.

Kristina Koutrakos

Virginia Retirement System

United States

Kristina Koutrakos has been Director, Portfolio Strategies at Virginia Retirement System since 2015, where she is responsible for the development and implementation of multi-asset portfolios and investment strategies at the $100+ billion U.S. state pension plan. Prior to this role, she was Managing Partner and founder of an investment firm to research and invest in women-run alternative investment funds. Kristina has served on ICPM’s Forum and Events Committee for the last year, which ensures member-exclusive events such as the in-person Discussion Forums and virtual round tables remain on point and relevant and for ICPM’s Research Partners.

Mel Duffield

Universities Superannuation Scheme

United Kingdom

Mel was appointed Chief Pensions Strategy Officer in October 2024. She leads the functions focused on pension strategy and engagement – including Strategy and Insight, Proposition, Member and Employer communications, Stakeholder Support, Sector Engagement and Technical Policy. Before joining USS in 2015, Mel was Deputy Director at the Pensions Policy Institute (PPI), an independent research charity focusing on pensions and retirement savings issues, and prior to that Head of Research and Strategic Policy at PLSA. Mel started her professional career in the UK civil service, working as a senior economic advisor at HM Treasury, the Department for Work and Pensions and the Department for Education. Mel is also a Governor and Board Director for the Pensions Policy Institute, a Board Director for the International Centre for Pensions Management, and a serving magistrate in Hertfordshire.

Poul Winslow

Independent

Canada

Poul has more than 3 decades of global experience within multi-asset class and alternative investments. Poul retired from CPP Investments in May 2022 as Senior MD and Global Head of Capital Markets & Factor Investing; he worked at CPP Investments since 2009 as Managing Director and Head of Thematic Investing and Managing Director and Head of External Portfolio Management. Before CPP Investments, he was Chief Investment Officer of Swedish AP2/Andra AP-fonden and also held several senior leadership roles at Nordea Investment Management in Denmark, Sweden and the US. Poul also served as a Trustee of the Standards Board for Alternative Investments (SBAI/HFSB).

Praneel Lachman

FirstRand Retirement Fund

South Africa

Praneel Lachman is currently the Board Deputy Chair at FirstRand Retirement Fund and chair of the Funds Investment Committee. He has held various roles at FirstRand Limited such as in areas of strategic operations, portfolio management, Chief Risk Officer for group ALM risks, acting group Chief Audit Executive and now Head of Balance Sheet Management. He has contributed to the effective corporate governance across the group including prior responsibility for the group’s Asset, Liability and Capital Committee, the centre’s Audit, Risk and Compliance Committee and custodian of the group’s ALM relationship with regulators. Praneel is also a trustee of the FNB Umbrella Retirement Fund that was launched to help its small-to-medium and commercial enterprises clients provide a simple and cost effective retirement savings product to their staff. He is also a member of the Thinking Ahead Institute, which is a global think tank aimed at mobilizing capital for a sustainable future

Edwin Denson

State of Wisconsin Investment Board (SWIB)

United States

Edwin joined SWIB in 2018 as managing director, asset and risk allocation. He was appointed executive director/chief investment officer in April 2021. Before joining SWIB, Edwin was managing director, strategic tilting, at Canada Pension Plan Investment Board (CPPIB). Prior to joining CPPIB in 2013, Edwin spent 13 years in asset allocation, currency, and risk management as a portfolio manager at William Blair & Company, managing member at Singer Partners LLC, and managing director and head of asset allocation at UBS Global Asset Management. Earlier in his career, Edwin was an economist at Lehman Brothers, Primark Decision Economics, and Putnam Investments, and he also briefly managed a commodity trading adviser and a quantitative equity strategy. Edwin holds a bachelor’s degree in economics from Cornell University and a PhD in economics from Northwestern University.

Tim Mitchell

Annuitas Management Limited

New Zealand

Tim Mitchell is the new Chief Executive of Annuitas Management Limited in New Zealand, which is responsible for providing executive functions to the Government Superannuation Fund Authority and the Board of Trustees of the National Provident Fund. Both are closed defined benefit pension schemes.
Prior to this, he was WTW’s (formerly Willis Towers Watson) Global Head of Governance Consulting and Head of Investment Organisational Effectiveness, as well as consulted a variety of Crown entities.
Tim Mitchell is a familiar face at ICPM events from his nearly 14 years at New Zealand Superannuation Fund as General Manager Corporate Strategy and General Manager Public Markets. He was also CIO of Colonial First State Investment Management NZ.

Geraldine Leegwater

PGGM

Netherlands

Geraldine Leegwater is currently the CEO of PGGM Investment Management, one of Europe’s largest pension funds in charge of the healthcare sector. Previously, Geraldine was Chief Investment Management and member of the Executive Committee of PGGM. Prior to this, Geraldine was Member of the Board of Trustees and Chairman of the Investment Committee of ABP. Between 2004 and 2018, Geraldine was the first Chief Investment Officer of ABN AMRO Pensioenfonds and later their Chief Executive Officer. She also served as a member of the Supervisory Investment Committee of the Dutch Central Bank and was an academic director for the executive education on pension and investment management at the ESAA/Erasmus University.

In the past, Geraldine served as a member of the investment committees of DSM Pensionfund, Atos Origin Pensionfund and PWRI Pensionfund. She was a member of the supervisory board of UWV Pensionfund. And also member of the investment committee and chairman of the risk management committee of the Federation of the Dutch Pension Funds.

Geraldine (1971) has a degree in Economics and Eastern European Studies and is a CFA and CAIA charterholder and certified EFFAS ESG analyst.

León Fernández de Castro

AFP Habitat

Chile

León Fernández de Castro has been the Planning and Development Officer of AFP Habitat, the largest pension fund in Chile, for the last 9 years. He is responsible for the company’s strategy, sustainability, public and political affairs, pension system education, and studies for pension reforms. In addition, he held the position of Chairman of the Board of AFP Colfondos for 4 years, a pension fund manager in Colombia that belongs to Habitat Group.