Healthcare of Ontario Pension Plan has appointed Michael Wissell as chief investment officer. Wissell, who joined the pension fund three years ago, was previously senior vice president, capital markets and total portfolio. Prior to HOOPP, he was with Ontario Teachers’ Pension Plan from 2002 to 2018.
The Healthcare of Ontario Pension Plan (HOOPP) is pleased to announce the appointment of Michael Wissell as its new Chief Investment Officer (CIO), effective today. He takes over CIO responsibilities from HOOPP President and CEO Jeff Wendling, who has been serving both roles since becoming CEO in March 2020.
Michael has a long track record of market leadership and innovation in public and private markets, asset allocation and portfolio construction. Since joining HOOPP more than three years ago he has been an important part of HOOPP’s Executive Leadership team and Investment Management division, serving as Senior Vice President, Capital Markets & Total Portfolio. He has helped foster a culture of innovation and brought forward new investment strategies that have helped HOOPP continue to succeed on behalf of its members, even in the most challenging of market conditions.
“I am very pleased to have someone of Michael’s calibre moving into this critical position at HOOPP,” said Wendling. “His deep knowledge and understanding of the HOOPP Fund, our investment strategies and the investment teams, combined with his more than 30 years of investment experience, make him the right choice for the role.”
Prior to HOOPP, Wissell was at the Ontario Teachers’ Pension Plan from 2002 to 2018, with increasingly senior responsibilities including leading the Public Equities team and building and leading the Portfolio Construction Group. He has served on numerous Boards of Directors, including the Canadian Coalition for Good Corporate Governance, and was a member of the Ontario Securities Commission Investor Advisory Panel.
Wissell said: “I’m honoured to be HOOPP’s next CIO and look forward to building upon the success of my predecessors. HOOPP has an excellent track record of adapting to evolving market conditions and maintaining a strong funded position for our members. It’s a privilege to help Ontario’s healthcare workers achieve retirement security, especially now as our members are going through extremely challenging times. As part of the great team at HOOPP, I am excited to continue to deliver on the pension promise.”
Today’s announcement concludes an exhaustive search that identified many strong candidates. In his new role, Wissell will assume leadership of the investment team and play a lead role in HOOPP’s investment strategies while remaining a key member of the Executive Team.
About the Healthcare of Ontario Pension Plan
HOOPP serves Ontario’s hospital and community-based healthcare sector, with more than 610 participating employers. Its membership includes nurses, medical technicians, food services staff, housekeeping staff, and many others who provide valued healthcare services. In total, HOOPP has more than 400,000 active, deferred and retired members.
HOOPP operates as a private independent trust, and is governed by a Board of Trustees with a sole fiduciary duty to deliver the pension promise. The Board is jointly governed by the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses’ Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees’ Union (OPSEU), and the Service Employees International Union (SEIU). This governance model provides representation from both management and workers in support of the long-term interests of the Plan.