About

Key Facts

6 trillion

Dollars worth of assets managed by the ICPM network.

2004

ICPM was founded and to this day continues to grow.

2015

ICPM becomes an independent, non-profit organization.

43

Pensions or related organizations in the ICPM network as of 2022.

Our Story

The International Centre for Pension Management (ICPM) was founded in 2004 by Keith Ambachtsheer at the Rotman School of Management, University of Toronto, in order to bridge the gap between academic research and the pension fund industry. ICPM became an independent non-profit organization in 2015 and has grown into a global network of 43 pension funds and related organizations that together manage more than 6 trillion dollars of assets. We design biannual Discussion Forums and year-round virtual round tables for the network, education programs for pension fund board members, trustees, and C-suite executives, research initiatives for academics, and public webinars and thought leadership series for practitioners, policy-makers, and the broader public.

Our Network

Worldwide

World Bank

Australia

AustralianSuper
Cbus
New South Wales Treasury Corporation (TCorp)

Canada

Alberta Investment Management Corp (AIMCO)
British Columbia Investment Management Corp. (BCI)
British Columbia Municipal Pension Board of Trustees
Caisse de dépôt et placement du Québec
CPP Investments
Healthcare of Ontario Pension Plan (HOOPP)
Investment Management Corporation of Ontario (IMCO)
Local Authorities Pension Plan Corp (LAPP Corp.)
Ontario Municipal Employees Retirement System (OMERS)
Ontario Power Generation
Ontario Teachers’ Pension Plan (OTPP)
OPTrust
Public Sector Pension Investment Board (PSP)
University Pension Plan

Chile

AAFP Chile
AFP Habitat

Denmark

Danish Labour Market Supplementary Pension (ATP)

Italy

Fondo Pensione Cometa

Japan

Nomura Fiduciary Research & Consulting Co., Ltd.

Netherlands

ABP
Algemene Pensioen Groep (APG)
PGGM
Philips Pensioenfonds
Pensioenfonds Metaal & Techniek (PMT)
Stichting Bedrijfstakpensioenfonds voor de Detailhandel

New Zealand

New Zealand Superannuation Fund

South Africa

FirstRand
GEPF

United Kingdom

National Grid UK Pension Scheme Trustee Executive (NGUKPS)
Railpen
Universities Superannuation Scheme (USS)

United States

California Public Employees’ Retirement System (CalPERS)
New Jersey Division of Investment
New York State Teachers’ Retirement System (NYSTRS)
Oregon Investment Council (OIC)
The Pew Charitable Trusts
TIAA Institute
Virginia Retirement System (VRS)
Washington State Investment Board (WSIB)

Our People

Board of Directors

  • Sudhir Rajkumar
    Sudhir Rajkumar portrait

    Sudhir Rajkumar

    Chair
    Independent

    Sudhir Rajkumar has over 30 years of broad-based global investment experience, which includes leading global investment organizations, advising long-term investment institutions on building global investment operations, formulating and implementing investment policies, and hands-on experience with investing in global bond markets, private equity and project finance investments, and corporate finance and privatization advisory engagements. 

    Most recently, Mr. Rajkumar served as head of the UN’s New York-based Office of Investment Management, responsible for the investment of a US$70+ billion global investment portfolio of the UN pension fund – 85% of which is actively managed in-house – invested in over 100 countries and 27 currencies, across public and private market asset classes including global equities, global fixed income, private equity, real estate, infrastructure, timber, and commodities. Prior to that, he served with the World Bank Treasury and International Finance Corporation in Washington, DC in various investment roles, including as a senior advisor to several large, multi-asset class, long-term investment institutions seeking to build global investment operations.

    Mr. Rajkumar holds an MBA from University of Chicago, a M.Sc. in Economics from the London School of Economics, a B.Sc. in Engineering from the University of Delhi, and a CFA charter. He serves on the Advisory Investment Committees of the World Health Organization (WHO) and the Food and Agriculture Organization (FAO). He has previously served on the Investment Committees of the World Food Programme and of UNOPS. He also serves as Chair of the Board, and Chair of the Audit & Governance Committee, of the International Centre for Pension Management (ICPM) – a global, research-based network of around 40 pension organizations. Mr. Rajkumar is co-editor and an author of the book Governance and Investment of Public Pension Assets: Practitioners’ Perspectives published by the World Bank. 

    Sudhir Rajkumar

    Chair
    Independent

  • Michelle Ostermann
    Michelle Ostermann portrait

    Michelle Ostermann

    Vice-Chair
    Public Sector Pension Investment Board (PSP Investments)

    Canada

    Michelle Ostermann is Senior Vice President and Global Head of Capital Markets at the Public Sector Pension Investment Board (PSP Investments). 

    Michelle has over 28 years of experience in the global investment industry. She 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 managed the client portfolios and $150 billion total fund serving consecutively as Senior Vice President, Corporate and Investor Relations, and Senior Vice President, Investment Risk, Strategy and Research. 

    Before joining PSP Investments, Michelle was Managing Director at Railpen Investments in London, where she was ultimately responsible for the $50 billion railway workers pension fund. In this capacity, she oversaw the entire investment business including investment and operational activities. 

    Since June 2019, Michelle has been serving as Vice Chair of the Board of Directors at the International Centre for Pension Management (ICPM), a global research-based network of pension organizations dedicated to innovative thinking about pension design and management. Prior to that, she was the Vice Chair of the Board of Directors at the Pension Investment Association of Canada (PIAC), from 2015 to 2018. 

    Michelle holds a bachelor’s degree in Economics from the University of Victoria and is a Chartered Financial Analyst. 

    Michelle Ostermann

    Vice-Chair
    Public Sector Pension Investment Board (PSP Investments)

  • Marcie Frost
    Marcie Frost portrait

    Marcie Frost

    California Public Employees’ Retirement System (CalPERS)

    United States

    Marcie Frost joined CalPERS as Chief Executive Officer in October 2016. She is the ninth CEO and second woman to head the Pension Fund.

    Ms. Frost brings more than 16 years of pension industry leadership, information services expertise, and executive management experience to her role. Before joining CalPERS, she served as executive director of the Washington State Department of Retirement Systems (DRS), where she demonstrated strong leadership and innovation, an emphasis on customer satisfaction, and team collaboration.
    Prior to that Ms. Frost held leadership roles at DRS in human resources, information services, and operations. She was deputy director for the retirement system for four years before being appointed executive director.

    Ms. Frost began her public service career as a benefits administrator with the Washington State Department of Labor & Industries.

    Marcie Frost

    California Public Employees’ Retirement System (CalPERS)

  • Susan Christoffersen
    Susan Christoffersen portrait

    Susan Christoffersen

    Rotman School of Management

    Prof. Christoffersen joined the Rotman School as a finance professor in 2010 after spending more than a decade as a faculty member at Desautels Faculty of Management at McGill University. In her role as Vice-Dean, Undergraduate & Specialized Programs at the Rotman School from 2015 to 2020, she provided the leadership and energy to both re-invent undergraduate education and build three new pre-experience specialized programs. The Master of Financial Risk Management (MFRM), Graduate Diploma in Professional Accounting (GDipPA) and Master of Management Analytics (MMA), were launched in quick succession as a key part of the Rotman School’s growth. She was also a driving force behind the redesign of the Master of Finance program (MFin) as well as the fundamental transformation of the Rotman Commerce program including a curriculum restructuring and the more than doubling of resources including space and staff dedicated to the program, in partnership with the University’s Faculty of Arts and Science.  In addition to her work as Vice-Dean, she also founded and contributed to the growth of the TD Management Data Analytics Lab, an important hub of activity for advancing the School’s research and teaching in the field of data analytics. She also served as co-academic director of the Lab.

    Her research focuses on mutual funds and the role of financial institutions in capital markets. She has published in top finance journals and been cited in The New York Times, Bloomberg News, and The Wall Street Journal. She has received numerous honours for her work, including research grants from the Social Sciences and Humanities Research Council and research awards from the Bank of Canada, Swiss Finance Institute, and Q-Group among others.

    She holds a bachelor’s degree in economics from Queen’s University and a master’s degree from the University of British Columbia and earned her PhD in finance at the Wharton School at the University of Pennsylvania.

    Susan Christoffersen

    Rotman School of Management

  • Bernard Morency
    Bernard Morency portrait

    Bernard Morency

    Independent

    Canada

    Mr. Morency is a member of ICPM Board of Directors. He is a Senior Fellow of the CD Howe and Global Risk Institute. He is also an Adjunct Professor at HEC, Montréal where he collaborates with the Retirement and Savings Institute.

    He was with La Caisse de dépôt et placement du Québec from December 2007 to June 2017 where he was Executive Vice-President, Depositors, Strategy and Chief Operations Officer. He sat on the Executive and the Investment and Risk Committees. He oversaw relations between La Caisse and its depositors, including their strategic asset allocation, and managed the development and implementation of the Institution’s three years strategic plan.

    Prior to this, Mr. Morency worked at Mercer for over 30 years. He occupied a variety of leadership roles including Global Retirement Practice Leader, EVP responsible for Mercer’s Retirement, Benefits, Investment and Outsourcing businesses worldwide and President of Mercer Health & Benefits. He was a member of Mercer’s global executive teams.

    Mr. Morency currently serves on the Board of Directors of Desjardins General Insurance Group. He is a Fellow of the Canadian Institute of Actuaries and chairs the Institute’s Public Statements Committee. He also served as a member of the Expert committee on the future of the Québec retirement system and was closely involved with the legislative changes that followed.

    Bernard Morency

    Independent

  • David Russell
    David Russell portrait

    David Russell

    Universities Superannuation Scheme (USS)

    United Kingdom

    David Russell co-heads the Responsible Investment Team of USS Investment Management, the fund manager for Universities Superannuation Scheme, where he has worked since 2001. USS is one of the largest pension funds in the United Kingdom, with assets in excess of approximately £50 billion and over 330,000 members. USS has a Responsible Investment (RI) team of six and a RI strategy which focuses on integrating extra financial factors into its investment processes across asset classes, and on engaging with public equities and other assets where these issues pose a risk to the fund’s investments.

    David is a former Board member of the PRI Association and is an advisor to the Board of the Institutional Investors Group on Climate Change (IIGCC), which USS set up in 2001. He is also a member of the FTSE Environmental Markets Advisory Committee, and on the PRI Private Equity Advisory Committee. David has previously worked as an Environmental Manager for a UK retail company, and was for five years a University lecturer in Environmental Management. He has a Masters Degree in Environmental Impact Assessment.

    David Russell

    Universities Superannuation Scheme (USS)

  • Laurence Booth
    Laurence Booth portrait

    Laurence Booth

    Rotman School of Management

    Canada

    Laurence Booth holds the CIT chair in structured finance at the Rotman School of Management at the University of Toronto. His major research interests are in corporate finance and asset management. He has published over seventy articles in academic journals, including the Journal of Finance and the JFQA as well as major textbooks for McGraw Hill, International Business (with Alan Rugman and Don Lecraw) and John Wiley and Sons Introduction to Corporate Finance 4th edition (with Sean Cleary and Ian Rakita) and Corporate Finance (with Sean Cleary and Pamela Drake Peterson). Professor Booth is on the editorial board of four academic journals and in 2003 was awarded the Financial Post’s Leader in Management Education Award. He regularly wins awards for teaching excellence and is sought out by the media for commentary. He has appeared as an expert financial witness in civil cases as well as before the Ontario Securities Commission, the National Energy Board, the CRTC, and most of the major regulatory tribunals in Canada.

    Laurence Booth

    Rotman School of Management

  • Jeroen F. J. de Munnik
    Jeroen F. J. de Munnik portrait

    Jeroen F. J. de Munnik

    PGGM

    Netherlands

    Jeroen de Munnik joined PGGM as Chief of Institutional Business in 2013 and is a member of PGGM’s Executive Committee. He is responsible for managing clients. In addition, he is responsible for advice with respect to investment management and with respect to pensions.

    Prior to PGGM, Dr. de Munnik spent almost 20 years at Aegon (1993 to 2012) where he held various positions in asset management and operations. He ultimately became responsible for Aegon’s entire pension business.

    Dr. de Munnik spoke at ICPM’s Toronto Discussion Forum in June 2018. He is a member of the Supervisory Council and Chair of the Audit Committee at Isala Clinics in Zwolle, the Netherlands.

    He holds a PhD in Econometrics from Erasmus University, Rotterdam.

    Jeroen F. J. de Munnik

    PGGM

  • Chris Hitchen
    Chris Hitchen portrait

    Chris Hitchen

    Independent

    United Kingdom

    Chris was recently the CEO of the Railways Pension Trustee Company and its operating subsidiaries, RPMI and Railpen Investments. He sits on the Board of the Investor Forum and is a Director of the Pensions Quality Mark. From 2010-2015 Chris was a Trustee Member of NEST and was the first Chair of its Investment Committee. He is a former Chairman of the Pensions and Lifetime Savings Association and of its Investment Council. Chris is an Actuary, with 30 years’ experience in pensions and investments. In 2015, Chris was appointed an Honorary Fellow of the CFA Society of the UK (FSIP).

    Chris Hitchen

    Independent

  • Fernando Larrain
    Fernando Larrain portrait

    Fernando Larrain

    Asociación de AFP (AAFP)

    Chile

    Fernando Larrain is currently General Manager of the Chilean trade union organization AAFP, where he is responsible for the design, implementation, and evaluation of AAFP’s strategy. Prior to this, he was a consultant for the Inter-American Development Bank, UNICEF, and the Organization of American States on issues of state modernization, corruption, public management and political economy. Mr. Larrain has a diverse government background, holding several advisory roles to various Chilean Ministers and the President.

    Mr. Larrain sits on a number of boards. He was a founding member and board director for the Chilean Society of Public Policies, a scientific corporation whose mission is to improve the quality of public policies; as well as the Fundación Trabajoen la Calle, a non-governmental organization pioneering social development work for marginalized urban communities. He was named an Eisenhower Fellow in 2015 and One of Chile’s 100 Leaders in 2013. He has authored several publications.

    Mr. Larrain holds a Master’s degree in Public Affairs from Princeton University, a Certificate in Policy and Governance from Duke University/Graduate Institute of International Studies, as well as a Bachelors of Economics and Business Administration from Pontificia Universidad Catolicade Chile. After eight years as a full time professor, he remains a visiting Scholar at three universities (UAI Chile, ESEN El Salvador, and IDE Ecuador).

    Fernando Larrain

    Asociación de AFP (AAFP)

  • Céline van Asselt
    Céline van Asselt portrait

    Céline van Asselt

    APG Asset Management

    Netherlands

    Céline van Asselt is a member of the Executive Board of APG Asset Management. Ms. Van Asselt joined APG Asset Management as Chief Finance & Risk Officer in September 2011. Ms. Van Asselt brings more than 20 years of asset management industry leadership, risk management expertise, and executive management experience to her role. Before joining APG Asset Management, she served as deputy director of ASR insurance company where she demonstrated strong leadership in customer driven business development, regulatory change programs and humanization of the company. Prior to that Ms. Van Asselt held leadership roles at MeesPierson and ASR in client risk asset management, asset allocation, financial and operational risk management. Ms. Van Asselt is a member of the Supervisory Board of Menzis Healthcare Insurance, member of the Supervisory Board of Unigarant. As an Advisor to the Board of Commonland Ms. Van Asselt aims to transform degraded landscapes into thriving ecosystems.

    Céline van Asselt

    APG Asset Management

  • Stewart Brentnall
    Stewart Brentnall portrait

    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.

    Stewart Brentnall

    New South Wales Treasury Corporation

Management Team

  • Rob Bauer
    Rob Bauer portrait

    Rob Bauer

    Executive Director

    Rob Bauer is ICPM’s Executive Director and is responsible for supporting the Board and providing strategic direction. He is the content lead for Discussion Forums, Pension Board Education Programs and Webinars. Rob also has oversight of Research activities including the scanning service.

    Rob is also Professor of Finance (chair: Institutional Investments) at Maastricht University, School of Business and Economics in the Netherlands. In addition, Rob is managing director of an investment consulting firm in which he advises pension funds and institutional asset managers on pension and investments related subjects. His present academic research focus is on pension funds, mutual funds, behavioral finance, socially responsible investments (SRI) and corporate governance.

    His academic work has been published in various professional and academic (international) research journals. Rob is Executive Director of the International Centre for Pension Management (ICPM), director of the Netspar-UM SBE Academy and director of the European Centre for Sustainable Finance (ECCE) at Maastricht University. Rob is also a senior researcher of Netspar. Moreover, he teaches at various executive courses.

    Rob Bauer

    Executive Director

  • Sebastien Betermier
    Sebastien Betermier portrait

    Sebastien Betermier

    Incoming ED-Designate

    Sebastien Betermier will succeed Rob Bauer at the end of 2022. Rob has been Executive Director since 2014 and expressed a desire to step down after he completes his current term. Betermier starts immediately alongside Rob Bauer to ensure a smooth transition for ICPM over the course of 2022.

    Betermier is an Associate Professor of Finance and Head of the Finance Area at the Desautels Faculty of Management at McGill University. He is also an Academic Advisor at the Bank of Canada. His research focuses on the relationship between risk and return, asset allocation, and the design of sustainable pension systems. Betermier founded and currently directs the McGill International Portfolio Challenge, the world’s largest buy-side competition focused on sustainability challenges for pension funds and other institutional investors. Professor Betermier holds a PhD in Finance from the Haas School of Business at the University of California, Berkeley.

    Betermier’s work appears in top finance journals, and it has featured in the Wall Street Journal, Financial Times, and Bloomberg, among others. In 2017, he was named one of the World’s Best 40 under 40 Business School Professors by Poets and Quants.

    Sebastien Betermier

    Incoming ED-Designate

  • Andrew Spence
    Andrew Spence portrait

    Andrew Spence

    Executive-in-Residence

    Andrew Spence is an Investment Consultant with diverse experience and skills. 

    Andrew is an Independent Consultant specializing in investment strategy and risk, with a diverse client base. 

    Andrew has diverse buy-side experience at two of Canada’s largest defined benefit pension plans.  At OMERS Capital Markets, Andrew advised on the strategic design template for a new alpha program, and had tactical responsibility for the development and management of a Global Macro Portfolio as well as management of the Quantitative Investments program. 

    At the Ontario Teachers’ Pension Plan, Andrew was responsible for asset-liability research and strategic asset allocation determination.  He also managed the total fund overlay to control balance sheet risk.  Andrew oversaw the active risk generated by deviations from asset allocation benchmarks, off-benchmark interest rate duration decisions, and the aggregate foreign exchange exposure.

    Andrew has extensive sell-side experience as an economist, strategist, and research director.  He was Global Head of Rates and FX Research at TD Securities, and Chief Economist for Canada at Deutsche Bank.

    During 2002 and 2003 Andrew was seconded to the Bank of Canada as Special Adviser to the Governor, and a member of the central bank’s interest rate determination committee, the Monetary Policy Review Committee.  He was also a member of the C.D. Howe Institute’s Shadow Monetary Policy Council.  

    Andrew is Chair of the Toronto Foundation investment committee, which administers over $400MM in assets dedicated to city building.

    Senior Fellow at the C.D. Howe Institute, and an ad hoc lecturer at the University of Toronto, at the Munk School of Global Affairs. 

    Andrew started his career at H.M. Treasury in London in macro-policy analysis.  He holds an M.Phil in Economics from the University of Bath, England. 

    Andrew Spence

    Executive-in-Residence

  • Mike Simutin
    Mike Simutin portrait

    Mike Simutin

    Associate Director – Research

    Mike Simutin is ICPM’s Associate Director – Research and is the content lead for research activities.

    Mike is also an Associate Professor of finance at the Rotman School of Management. His research focuses on studying institutional money management and understanding risks that affect asset prices. Mike’s research has been published in leading finance journals, including the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. He has received multiple research awards, including the Best Paper Award by the Review of Asset Pricing Studies and the Governor’s Award from the Bank of Canada. Mike has also received multiple teaching accolades, including being named one of the 40-Under-40 Most Outstanding Business School Professors and being voted instructor of the year by the MBA students. His research has been presented at numerous academic conferences and practitioner events.

    Mike Simutin

    Associate Director – Research

  • Jamie MacLean
    Jamie MacLean portrait

    Jamie MacLean

    Head of Member Engagement and Communications

    Email: communications@icpmnetwork.com

    Jamie has been with ICPM since 2017, overseeing communications and member engagement initiatives that strengthen the relationships between pension funds in the network.

    Jamie has worked in public relations for more than ten years, with a background in journalism and business development. Her experience spans Canada and the UK, and includes securing national coverage for brands, launching a PR platform to promote artists and designers, organizing interactive events, and implementing digital marketing strategies.

    Jamie MacLean

    Head of Member Engagement and Communications

  • Jake Becker
    Jake Becker portrait

    Jake Becker

    Director of Operations

    contact: director@icpmnetwork.com

    As the Director of Operations with ICPM, Jake manages the daily operations and administration of the Association. He also provides support to ICPM’s Executive Director and Board of Directors by scheduling and facilitating meetings, leading ICPM’s accounting and events staff, and assisting with special projects.

    Jake has experience working with U SPORTS and Parks Canada in administration and event management, and has worked in a similar capacity most recently with the Canadian Association of Financial Institutions in Insurance (CAFII).

    Jake Becker

    Director of Operations

  • Nour Daoud
    Nour Daoud portrait

    Nour Daoud

    Project Manager

    Nour Daoud has been involved in numerous aspects of corporate and private events over the past seven years. A social worker by training, Nour has planned and delivered events in the private, corporate, and educational sectors. While completing her undergraduate degree at McGill University, Nour worked in events management, designing and delivering quality private functions. She also worked at the McGill Executive Institute, the corporate education and management development unit of McGill’s Desautels Faculty of Management, supporting the events and hospitality department. Most recently, Nour completed her graduate degree from the University of Toronto. Although she is based out of Toronto, Nour considers herself a global citizen. She is passionate about working towards ‘humanizing business,’ and strives to incorporate best practices that acknowledge the social, economic, and environmental consequences of our work. Nour is thrilled to join the ICPM team as a Project Manager. 

    contact: ndaoud@icpmnetwork.com

    Nour Daoud

    Project Manager

  • Pearl Chen
    Pearl Chen portrait

    Pearl Chen

    Financial Controller

    Pearl is a professional, dedicated and experienced team leader of the accounting team. She is also an experienced CPA, CGA who provides financial services for ICPM which includes financial reporting and analysis, budgeting, tax filing etc. Pearl has been working in the non-profit sector for about 10 years and provided financial service for more than 12 NPOs. She is enthusiastic in developing the financial procedure and strategy that benefits the NPOs.

    contact: accounting@icpmnetwork.com

    Pearl Chen

    Financial Controller

ICPM Honourees

These exceptional individuals have been instrumental in shaping ICPM into the effective organization it is today. We recognize their dedication and impact with sincere appreciation.

  • Keith Ambachtsheer
    Keith Ambachtsheer portrait

    Keith Ambachtsheer

    Founding Executive
    Director Emeritus

    Keith Ambachtsheer is Founding Executive Director Emeritus of the International Centre for Pension Management (ICPM). He was founding Director of ICPM 2005-2014, and Editor of the Rotman International Journal of Pension Management 2008-2014. He became founding Academic Director of the ICPM Board Effectiveness Program for board members of pension organizations in 2011.

    He is a member of the Scholars Council of Georgetown University’s Center for Retirement Initiatives. Through his firm KPA Advisory Services, he has advised pension and investment organizations, as well as governments and its agencies, on the design, governance, and investment policies of retirement income systems since 1985. He co-founded CEM Benchmarking in 1991. CEM benchmarks the organizational performance of over 400 pension organizations worldwide.

    Keith has authored three books on pension management and is currently working on his fourth. He has been the recipient of awards around the world for his work in the pensions, governance, and investments field.

    Keith Ambachtsheer

    Founding Executive
    Director Emeritus

  • Brendan Calder
    Brendan Calder portrait

    Brendan Calder

    Founding Chair

    Brendan Calder is a Professor and the Entrepreneur in Residence and Chair of Desautels Centre for Integrative Thinking at Rotman where he conducts the award-winning course, GettingItDone®. He was the Founding Chair of the International Centre for Pension Management. He also serves as the Director of EllisDon Construction, Equity Financial Trust Co. and FirstService Corp. Brendan served as the Chair, President and CEO of CIBC Mortgages from 1995 to 2000. He also served as Chair of TIFF and of the Peter F. Drucker Canadian Foundation.

    Brendan Calder

    Founding Chair

  • Donald M. Raymond
    Donald M. Raymond portrait

    Donald M. Raymond

    Chair Emeritus

    Don is an Adjunct Professor of Finance and Chair Emeritus of the International Centre for Pension Management at Rotman. He is currently Chief Investment Strategist at QIA, the Sovereign Wealth Fund of the State of Qatar. Prior to that, he served on the founding senior management team of Canada Pension Plan Investments, as its first head of Public Market Investments and subsequently as its first Chief Investment Strategist. Prior to joining CPP Investments, Don worked for Goldman Sachs in New York and Schlumberger in China. He has also served as Chair of the Board of Trustees and Chair of the Investment Committee of Queen’s University and on the Board of Directors and Chair of the Investment Committee of Great-West LifeCo. He holds a PhD in engineering from Queen’s University, specializing in nonlinear systems.

    Donald M. Raymond

    Chair Emeritus

  • Barbara Zvan
    Barbara Zvan portrait

    Barbara Zvan

    Chair Emeritus

    Barbara Zvan is UPP’s inaugural President and Chief Executive Officer and is responsible for leading UPP’s plan’s administration and the investment of its assets, working with the Board of Trustees to meet the plan’s goals to deliver a secure, stable retirement income to our members. Barb is known for her efforts to bring institutional strength to complex challenges and forge new collaborative pathways for innovation and growth.

    Formerly the Chief Risk and Strategy Officer for the Ontario Teachers’ Pension Plan, Barb is recognized as a leading voice on sustainable investing and an ambassador for defined benefit pensions,  Barb serves on the boards of various global institutions and associations focused on pension management, risk and responsible investing, including the Global Risk Institute, Responsible Investment Association and the advisory board of the Institute of Sustainable Finance at the Smith School of Business. She was appointed to the Government of Canada’s Expert Panel on Sustainable Finance, is a member of the Advisory Committee for the new ‘Investing to Address Climate Change’ Charter, is an inaugural member of the Sustainable Finance Action Council. Barb played a significant role in creating the G7 Investor Leadership Network. 

    She holds a Master Degree in Math and Statistics from the University of Waterloo and a Bachelor of Science from McMaster University. She is a fellow of the C.D. Howe Institute, a member of the Institute of Corporate Directors, a Fellow of Canadian Institute of Actuaries (FCIA) and a Fellow of Society of Actuaries (FSA).

    Barb is a former Board Chair of ICPM.

    Barbara Zvan

    Chair Emeritus