Ontario Teachers’ Taps Mock To Replace Leech As CEO

Ron Mock, left, and Jim Leech

The Ontario Teachers’ Pension Plan, one of Canada’s largest and most innovative, named Ron Mock to succeed Jim Leech as its president and CEO, according to a spokeswoman, Deborah Allan. Since 2008, according to Buyouts, peHUB’s sister magazine, Mock has been the pension’s senior vice president in charge of fixed income and alternative investments.

Last year, the $127 billion pension was named the world’s best performing pension by CEM Benchmarking, a survey that ranked the world’s 400 largest pension plans.

In April Leech announced he planned to step down at the end of the year. Mock will assume his new duties in January 2014. Allan told Buyouts that Mock and Leech were unavailable to comment.

“I have the luxury of inheriting the leadership of a thriving and successful organization,” Mock said in a statement. This “is the most invigorating challenge I have ever faced and I look forward to doing my best for everyone, from members to employees, plan sponsors to investment partners.”

Mock and Leech both joined Ontario Teachers’ in 2001. In 2007, Leech was tapped as CEO, and in 2008, Mock was named to his current role.

“Over the past six years, I have had the honor and privilege of leading this one-of-a-kind organization,” Leech said in a statement. “We have always been focused on doing the right things for our members, and that is reflected in our culture, which I know will continue under Ron’s leadership.”

Part of Mock’s responsibilities has been alternative investments. Ontario Teachers’ has a semi-autonomous private equity arm, Teachers’ Private Capital, which manages $13 billion in assets. Since it was formed 19 years ago, Teachers’ Private Capital has generated an enviable net IRR of 19.3 percent by mixing traditional co-mingled fund investments with primary investments. Jane Rowe, who is head of Teachers’ Private Capital, was also seen as a contender for the top job.

Ontario Teachers’ administers pension assets for 300,000 active and retired teachers.

Gregory Roth is a senior editor at Buyouts Magazine. Any opinions expressed here are entirely his own. Follow him on Twitter @RothReuters. Follow Buyouts tweets @Buyouts.

Photo: Courtesy Ontario Teachers’ Pension Plan