21 October 2022
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.