Key roles filled internally to lead capital markets, fund management, and investment strategy
The Ontario Teachers’ Pension Plan has announced the promotion of three key executives to senior roles within the organization, a move aimed at enhancing the leadership of its capital markets, fund management, and investment strategy divisions.
These positions will directly report to the fund's newly appointed co-chief investment officers, reinforcing the plan's strategic direction and operational efficiency.
Bernard Grzinic has been appointed as the executive managing director of capital markets. In his new role, Grzinic will oversee a substantial portfolio worth $90bn, managing investments across a broad spectrum including public stocks and bonds, currencies, commodities, and derivatives.
With over 25 years of service at Teachers, Grzinic most recently held the position of global head of credit investments.
Steve Saldanha has been promoted to executive managing director of total fund management.
Saldanha's responsibilities will encompass leading a department dedicated to managing assets, liquidity requirements, and risks in a holistic manner, breaking down silos to enhance the pension fund manager's effectiveness.
Saldanha, with 18 years at Teachers, previously spearheaded portfolio management and asset allocation.
Robert Sturgeon has been named senior managing director of global investment strategy. Joining Teachers in 2017, Sturgeon’s role will merge the strategic oversight of global business and political trends with the cultivation and maintenance of key relationships for the fund. His appointment reflects the organization's commitment to a comprehensive global investment outlook.
The appointments of Grzinic and Saldanha fill the vacancies left by Gillian Brown and Stephen McLennan, who ascended to the roles of co-CIOs following the departure of the former investment chief, Ziad Hindo. Sturgeon’s role aligns him with Jonathan Hausman, recently named chief strategy officer, who has previously led global investment strategy.
Jo Taylor, Teachers' CEO, alongside Brown and McLennan, underscored the organization's strategy of promoting long-standing in-house talent following Hindo’s exit. This approach has fortified the pension fund manager's senior ranks with experienced and knowledgeable individuals from within.
As Teachers gears up to disclose its investment outcomes for 2023, stakeholders are keen to assess the fund's performance amidst challenging market conditions. In the first half of the previous year, the fund reported a gain of 1.9 percent, managing total assets worth $249.8bn. The forthcoming announcement will provide further insights into how Teachers has navigated the investment landscape compared to its peers, who have faced mixed results amid fluctuating market dynamics.
