TORONTO, July 9, 2019 /PRNewswire/ -- Ontario Teachers' Pension Plan (Ontario Teachers') is pleased to announce the appointment of Jo Taylor as its new President and CEO, effective January 1, 2020. Mr. Taylor, currently Executive Managing Director, Global Development, will succeed Ron Mock, who is retiring on December 31, 2019 after almost two decades at Ontario Teachers'.
"We selected Jo because he will be an excellent driver of the Ontario Teachers' brand, and for his ability to advance the organization's global effectiveness and build for the future," said Ontario Teachers' Board Chair Steve McGirr. "We believe that Jo will enhance the total-fund approach, address the challenges of today's investment environment, and uphold the tradition of successfully delivering on the pension promise for our members. He is also known for building high-performing, multicultural teams globally."
Good governance is a cornerstone of the organization and a comprehensive succession review process began in 2018. The Board reviewed a broad and diverse set of candidates, both from within the organization and externally, and determined that the organization has an incredibly strong pipeline of internal talent.
"The Board has made an excellent choice in appointing Jo, and I am confident that under his poised and steady leadership the organization and its members will be in good hands," said Mr. Mock. "His extensive global investing experience over the last 35 years, his strategic vision, and his passion for the Ontario Teachers' Pension Plan and its success make Jo an excellent choice. Given his significant experience, I know he will make a positive difference in moving this organization forward."
Mr. Taylor joined Ontario Teachers' in 2012, leading Europe, Middle East and Africa (EMEA) operations and subsequently assuming additional responsibility for operations in Asia-Pacific, before being appointed to his present role in August 2018. Mr. Taylor currently oversees the investment teams operating in Ontario Teachers' international offices; setting strategy, reviewing investment proposals, managing key relationships and optimizing the allocation of resources.
"I am honoured by the Board's confidence in appointing me as the new CEO, and look forward to the challenge of furthering our global competitiveness, and ensuring the best possible results for our members, employees, plan sponsors and investment partners," said Mr. Taylor. "As a direct result of Ron's strategic vision and leadership, Ontario Teachers' is well positioned for the future. He has guided the organization through a complex competitive landscape, ensuring the sustainability of the plan, and advancing our talent and technology."
Mr. Mock joined Ontario Teachers' in 2001, becoming a respected and influential industry leader in the pension industry both in Canada and abroad.
"Ron has done a remarkable job of furthering Ontario Teachers' global mandate. Thanks to his leadership and vision, the organization is well positioned to sustainably meet its mission in the future. Ron has also had the foresight to focus on what lies ahead, both from an investment perspective and as the organization takes on the challenges of technology, innovation, and attracting and retaining top talent," noted Mr. McGirr.
"Ontario Teachers' has been my home for close to 20 years, the last six as CEO," Mr. Mock added. "I've seen Ontario Teachers' evolve in many ways over that time. But at our core, what remains the same is the drive and determination of our people to do the right thing, for our members, and for the communities in which we operate. It has been a privilege to have been CEO of this remarkable organization. I know that Jo will continue to lead the organization to a new level of success."
Under Mr. Mock's leadership, Ontario Teachers' net assets have grown by $50.3 billion to $191.1 billion at December 31, 2018, up from $140.8 billion at December 31, 2013. During this period the fund has achieved a five-year annualized total-fund net return of 8%, and a cumulative five-year net value add of $14.2 billion, which is 1.5% above the policy benchmark. Mr. Mock has done an exceptional job of building Ontario Teachers' global perspective, ensuring the sustainability of the plan, and shaping the organization's brand, culture and focus on talent. As CEO, Mr. Mock oversaw the growth of the Ontario Teachers' London and Hong Kong offices, and made the strategic decision that the Toronto office will move from its current location at Yonge and Finch to the downtown core in 2023. Mr. Mock is credited with pushing the organization to become more innovative, technically as well as in its mindset. He will continue to lead as CEO until he retires at the end of this year, and will assist Mr. Taylor to ensure a smooth and stable transition.
About Ontario Teachers'
The Ontario Teachers' Pension Plan (Ontario Teachers') is Canada's largest single-profession pension plan, with $191.1 billion in net assets at Dec. 31, 2018. 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 9.7% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 327,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
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