Hutcheson, a 10-year veteran of the pension fund, is replacing Michael Latimer, who will retire at the end of May after six years as CEO. (The Logic)
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Hutcheson, a 10-year veteran of the pension fund, is replacing Michael Latimer, who will retire at the end of May after six years as CEO. (The Logic)
Talking point: Latimer oversaw a period of significant growth at OMERS, taking the fund from $65 billion to over $100 billion, powered by an annual net return of eight per cent. A key driver of that growth was Oxford Properties, the division Hutcheson oversaw for eight and a half years, during which it returned an average of 12.5 per cent. Hutcheson will take over as OMERS is increasingly looking overseas, where it is also competing against other Canadian pensions. Both OMERS and the Canada Pension Plan Investment Board opened offices in San Francisco this year; OMERS Ventures also opened a new London office as the Ontario Teachers’ Pension Plan is also looking to increase investment in Europe. In November,OMERS Ventures head Damien Steel told The Logic he’s hoping the fund can cooperate more with the other Canadian pension giants.
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