Ontario Teachers’ Pension Plan has appointed Tim Deacon as chief financial officer, replacing David McGraw, who is retiring. Deacon will join Ontario Teachers’ in April from Manulife Financial, where he has worked as group controller and global chief accounting officer.
TORONTO, ON – Ontario Teachers’ Pension Plan Board (Ontario Teachers’) today announced that Tim Deacon has been appointed to succeed David McGraw as its new Chief Financial Officer. Mr. McGraw will retire as CFO in June after a successful 16-year career at the organization. Mr. Deacon will join Ontario Teachers’ on April 19, 2021 as CFO designate and will work closely with Mr. McGraw to ensure a smooth transition. He will report to President and Chief Executive Officer Jo Taylor.
“I am pleased to welcome Tim to our Executive Team. He brings a strong track record of achieving results and leading large global teams through transformation,” said Mr. Taylor. “I am confident his significant leadership experience and deep global investment knowledge will serve Ontario Teachers’ well as we embark on our next phase of growth.”
Mr. Deacon joins from Manulife Financial where he was Group Controller and Global Chief Accounting Officer. In this role, he held global accountability for financial reporting, accounting policy, accounting shared services, and global finance transformation. He also had financial oversight of Manulife’s General Account Investment portfolio. Previously he was CFO of Manulife’s Global Wealth and Asset Management businesses and held other senior executive roles across Finance, Risk, Strategy and Operations. Prior to Manulife, Mr. Deacon was a director at PwC LLP in the Global Capital Markets Group based in Toronto and London.
As CFO, Mr. Deacon will lead Ontario Teachers’ global finance organization and will be responsible for financial and management reporting; taxation; valuation, risk analytics and model valuation; financial operations; due diligence and advisory; and strategic finance initiatives.
Mr. Deacon is an Ontario Chartered Professional Accountant and a U.S. Certified Public Accountant. He earned his Bachelor of Commerce from Queen’s University.
About Ontario Teachers’
The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.5% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific regional offices are in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded as of January 1, 2020, invests and administers the pensions of the province of Ontario’s 329,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.