Hugh O’Reilly has resigned as president and CEO of OPTrust, effective immediately.
O’Reilly left to “pursue other interests,” OPTrust said.
O’Reilly has led the Canadian pension fund manager since 2015, when he joined from the pension benefits and insolvency practice group of law firm Cavalluzzo Shilton McIntyre Cornish LLP.
CFO Doug Michael stepped in as interim president and CEO.
With assets of more than $20 billion, OPTrust invests and manages OPSEU Pension Plan. It invests in private equity and infrastructure through OPTrust Private Markets Group.
OPTrust announces change in leadership
TORONTO, March 18, 2019 – OPTrust’s Board of Trustees today announced that Hugh O’Reilly has resigned as President and CEO of OPTrust effective immediately to pursue other interests. Mr. O’Reilly has brought many positive changes to OPTrust in the four years he led the organization including the introduction of many innovative strategies such as Member Driven Investing and OPTrust Select, the first new defined benefit plan in Ontario in a generation.
CFO Doug Michael will continue as the Interim President and CEO, providing strong continuity in leadership and operations. Mr. Michael has been with OPTrust for over 9 years and became the CFO in 2015. OPTrust will continue to focus on its mission to pay pensions today and preserve pensions for tomorrow for the over 92,000 members and retirees it serves.
The Board has struck a committee to conduct a search for a permanent President and CEO.
With net assets of over $20 billion, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with over 92,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government of Ontario.
Manager, Public Affairs