Neil PetroffExecutive Vice-President, Investments and CIO | Neil Petroff oversees the pension plan’s investment program. He is responsible for all aspects of Teachers’ investment activities as well as the pension fund’s asset-mix and risk allocations, and its real estate portfolio managed by Teachers’ subsidiary, Cadillac Fairview. A key member of Teachers’ investment management team since 1995, Mr. Petroff assumed his current role at the beginning of 2009, succeeding retired investment head Bob Bertram. Mr. Petroff first joined Teachers’ in 1993 and has been responsible for several portfolios including international equity indexes, fixed income, foreign exchange, commodities, tactical asset allocation and alternative investments. With his broad capital markets knowledge and asset and risk management expertise, he was Group Senior Vice-President with responsibility for the fund’s investments in equities, fixed income and inflation-sensitive assets before assuming overall responsibility for Teachers’ investment activities. Mr. Petroff has been recognized for his important role in innovative hedge fund portfolio management when Teachers’ was named Public Pension Fund Investor of the Year by Alternative Investment News in 2007. He has more than 25 years’ experience in the financial industry, beginning his career in investing at Bank of Nova Scotia and continuing at Guaranty Trust and Royal Trustco. He holds a BBA and MBA from York University and serves on several corporate boards. |
Asset Mix and Risk
Barbara ZvanSenior Vice-President, Asset Mix and Risk, and Chief Investment Risk Officer | Barbara Zvan and her team of investment professionals oversee the development of the fund’s long-term investment strategy based on economic outlooks, asset and liability matching, and risk analysis. The Asset Mix and Risk team plays a leading role in researching and assessing new products for possible integration into the investment strategy. Ms. Zvan also oversees the development of the annual active management risk budget, economic analysis, benchmarks, investment guidelines and the design of the internal enterprise-wide risk system. Ms. Zvan joined Teachers' in 1995 as an assistant portfolio manager. She has risen steadily through positions of increasing authority, and was promoted to Vice-President, Research and Economics, in 2001. Ms. Zvan is a Fellow of both the Society of Actuaries and the Canadian Institute of Actuaries, and received her Masters in Mathematics from the University of Waterloo. |
James DavisVice-President, Investment Planning & Economics | James Davis is responsible for the fund’s strategic investment planning, as well as recommending tactical risk management strategies and new asset classes for the fund. Mr. Davis joined Teachers’ in 2006 and has more than 20 years experience in investment strategy and management. A CFA charterholder, Mr. Davis earned an MBA and B.Sc. from Dalhousie University. |
Scott PicketVice-President, Research & Risk | Scott Picket is responsible for overseeing the assessment of the fund’s investment risk and promoting a risk-conscious culture at the fund. Mr. Picket joined Teachers’ in 2000 and was most recently Director, Quantitative Analysis. He has 15 years investment management experience. Mr. Picket earned a Ph.D. and an M.A.Sc. (Aerospace Engineering) from the University of Toronto and a B.Math. from the University of Waterloo. |
Fixed Income and Alternative Investments
Ronald MockSenior Vice-President, Fixed Income and Alternative Investments | As Senior Vice-President, Fixed Income and Alternative Investments, Ron Mock is responsible for Teachers’ fixed income and global hedge fund portfolio. Mr. Mock joined Teachers’ in 2001 as Director, Alternative Investments, and has more than 20 years of international experience in investments and finance. He holds a B.A.Sc. in Electrical Engineering from the University of Toronto and an MBA from York University. |
Jason ChangVice-President, Core Fixed Income, Credit and Relative Value | Jason Chang’s responsibilities include the fund’s fixed income nominal bond index, money market, real return debt and global liquid yield curve arbitrage portfolios. Since joining Teachers’ in 1995, he has held progressively more senior positions, most recently as Director, Fixed Income. Mr. Chang holds an HBA from the Richard Ivey School of Business at the University of Western Ontario and is a CFA charterholder. |
Jonathan HausmanVice-President, Alternative Investments and Emerging Markets | Jonathan Hausman is responsible for Teachers’ hedge fund portfolio and emerging markets fixed income assets. He joined Teachers’ in 2004 and was most recently Director, Emerging Markets. Previously, he held positions managing sovereign risk and advising government clients at Goldman Sachs in its New York, London and Hong Kong offices. Mr. Hausman holds a BA from McGill University, an M.Sc. from the London School of Economics and an MPA from the School of International and Public Affairs at Columbia University. |
Infrastructure
Stephen DowdSenior Vice-President, Infrastructure | Stephen Dowd leads Teachers’ global Infrastructure and Timberland portfolio, overseeing both acquisitions and asset management. He joined Teachers’ in 2006 with 18 years of international banking and industry experience and was promoted to his current position in 2008. Under Mr. Dowd’s leadership, the portfolio has grown through the acquisition of sizable or controlling interests in three Chilean water companies, and two airports located in the U.K. (Bristol and Birmingham). In addition, the Infrastructure team earned a Canadian Dealmakers Award for the joint acquisition of Chilean electricity company SAESA Group in 2008, and the North American Deal of the Year Award from Project Finance International magazine for the purchase of four North American port facilities in 2007. Mr. Dowd serves on the boards of several portfolio companies. He earned a BA from Princeton University, an MBA from The Amos Tuck School of Business at Dartmouth College, and is a graduate of the Institute of Corporate Directors. |
Kevin KerrVice-President, Infrastructure | Kevin Kerr is responsible for the fund’s infrastructure and timberland transactions internationally. Since joining the Infrastructure group in 2000, Kevin has led the development of the timberland portfolio and has been involved in many of the group’s transactions, including leading the purchase of significant interests in the Express Pipeline, ESSBIO, Esval S.A., and Saesa Frontel. He currently sits on the companies’ boards. He joined Teachers’ in 1998 and has held positions of increasing responsibility in inflation-sensitive portfolios. He began his career at Deloitte & Touche LLP. Mr. Kerr holds a B.Comm. from Carleton University and is a Chartered Accountant, CFA charterholder and a graduate of the Institute of Corporate Directors. |
Olivia SteedmanVice-President, Infrastructure | Olivia Steedman is responsible for the infrastructure department’s asset management practice, which monitors and manages the fund’s infrastructure portfolio. Since joining the Infrastructure group in 2002, Olivia has helped build the asset management practice and participated in numerous transactions, including the acquisitions of Scotia Gas Networks and Express Pipeline. She currently sits on the boards of seven portfolio companies. Prior to joining Teachers’, Olivia was Assistant Vice-President in the Project Finance and Privatization group at PricewaterhouseCoopers. Previously, she practised civil engineering at Marshall Macklin Monaghan. A Professional Engineer and Chartered Accountant, Ms. Steedman earned a B.Sc. (Civil Engineering) from Queen’s University and is a graduate of the Institute of Corporate Directors. |
Public Equities
Wayne KozunSenior Vice-President, Public Equities | Wayne Kozun leads the team that oversees the fund’s actively-managed public equities portfolios, including relationship investing. The group also uses a variety of external managers to give the fund exposure to international equity markets. As well, the equities team monitors the corporate governance practices of the companies in which Teachers' invests. Mr. Kozun serves on the boards of the Canadian Coalition for Good Governance, the Pacific Pension Institute, and Maple Leaf Foods. Mr. Kozun joined Teachers’ in 1995 and has risen steadily through positions of growing responsibility, most recently as Vice-President, Tactical Asset Allocation. He received a Bachelor of Engineering Science from the University of Western Ontario and an MBA from the Richard Ivey School of Business and is a graduate of the Institute of Corporate Directors. |
Zev FrishmanVice-President, Global Equity Strategies | Mr. Frishman has 30 years of experience in investment management and has been a member of Teachers' investment team since 1994. He leads a team that oversees Teachers' external active equity managers, develops and manages in-house global equity portfolios, and manages overall exposures (e.g., style, size, currency) of the Public Equities group. His team also provides risk management and portfolio analytics for Public Equities. Previously, Mr. Frishman was an academic professional, teaching university-level courses in Finance and Investments, and is a regular conference speaker on a variety of investment management topics. He holds a BA in Economics and Statistics (Cum Laude), an M.Sc. in Economics, and has completed PhD comprehensive exams in Finance. Mr. Frishman is a graduate and member of the Institute of Corporate Directors. He is also a member of the CFA Institute and the Toronto CFA Society. |
Leslie LefebvreVice-President, Global Active Equities | Leslie Lefebvre is responsible for the fund’s global active equities strategies and investments within the public equities portfolio. Since joining Teachers’ in 2000, she has held progressively more senior positions, most recently as Director, Global Active Equities. Ms. Lefebvre previously worked in equity research at Scotia Capital Markets and TD Securities. She earned a B.Comm. from the University of Windsor and is a CFA charterholder. |
William RoyanVice-President, Relationship Investing | William Royan joined Teachers' in 2008 as Vice-President, Relationship Investing—a portfolio within the Public Equities group focused on large-scale strategic investments in public companies. He joined Teachers' from Lehman Brothers in New York, where he held senior roles in its mergers group and its equity strategies unit, Lehman's principal investing arm. Previously, he worked in mergers and acquisitions at J.P. Morgan in New York, and RBC Dominion Securities in Toronto. Mr. Royan holds an MBA from the University of Chicago and a B.Comm. from the University of Calgary. |
Lee SiennaVice-President, Long-Term Equities | Lee Sienna is responsible for the fund’s long-term equities investments, a newly-created portfolio within public equities. The Long-Term Equities group focuses on investments, both public and private, with steady cash flow and growth potential that can hold their value and act as a hedge against inflation. Mr. Sienna joined Teachers’ in 2002 as Vice-President, Teachers’ Private Capital, with more than 20 years experience in management and corporate development for companies in the beverage, food and entertainment industries, including John Labatt Ltd. He played a pivotal role in Teachers' Private Capital's acquisitions of Yellow Pages Group, Samsonite Corp., Alliance Laundry Systems, AOT Bedding (Serta), Easton-Bell Sports and GNC Corporation. A Chartered Accountant, Mr. Sienna is a graduate of the Richard Ivey School of Business and a graduate of the Institute of Corporate Directors. He received an MBA from the University of Toronto. |
Tactical Asset Allocation
Michael WissellSenior Vice-President, Tactical Asset Allocation | Michael Wissell manages the tactical asset allocation portfolios at Teachers’. In addition to executing equities trades, commodities and foreign exchange on behalf of the fund, the department uses quantitative tools and discretionary analysis to build a diversified basket of assets with a global focus.
Mr. Wissell joined Teachers’ in 2002 with more than 15 years of capital markets experience and has helped to build the Tactical Asset Allocation program. He was most recently Vice-President, Tactical Asset Allocation. He holds a B.Comm. from Carleton University and an MBA from McMaster University, and is a CFA charterholder. |
Kevin DugganVice-President, Equity Products | Kevin Duggan is responsible for executing equity products, including cash and derivative instruments, and overseeing equity index completion and internally managed market neutral portfolios. Mr. Duggan joined Teachers’ in 1997 and has 15 years experience in investment management. He earned a B.Comm. from Concordia University and is a CFA charterholder. |
Ziad HindoVice-President, Global Opportunities | Ziad Hindo is responsible for foreign exchange execution, commodity indexing and a value added program across asset classes. Mr. Hindo joined Teachers’ in 2000 and was most recently Director, Foreign Exchange & Commodities. A CFA charterholder, he earned an M.Sc. from the University of Warwick and a B.Sc. from the University of York. |
Teachers' Private Capital
Andrew ClaerhoutVice-President | Andrew Claerhout heads TPC's consumer, retail and industrials group. He is also responsible for the London office. Andrew joined Teachers’ in 2005 and has previously worked at EdgeStone Capital Partners, Pacific Equity Partners and Bain & Company. Andrew has been involved in a number of direct investments at Teachers', including Kabel Deutschland, Alexander Forbes and Munchkin, and fund commitments into Actera and Ethos. Andrew sits on the board of National Bedding (Serta), General Nutrition Centers, Easton-Bell Sports, Simmons Bedding Company and Munchkin. Andrew received an HBA from the Richard Ivey School of Business at the University of Western Ontario and has completed the Stanford Executive Program at the Graduate School of Business, Stanford University. |
Steve FaraoneVice-President | Steve Faraone is responsible for private equity investments in the financial services and healthcare sector. Since joining Teachers’ in 2002, he has worked on a number of transactions including the acquisitions of Alliance Laundry Systems, Canada Guaranty Mortgage Insurance Company, GCAN Insurance Company, and Yellow Pages Group, as well as the refinancing of Parmalat Canada. Steve is on the board of GCAN Insurance Company, its parent company Glenstone Capital, and Canada Guaranty Mortgage Insurance Company. Prior to joining Teachers’, Steve spent two years with BMO Nesbitt Burns Equity Partners, the private equity arm of the Bank of Montreal. Previously, he was with BMO Nesbitt Burns Investment & Corporate Banking division in Vancouver. A CFA charterholder, he received a B.Comm. (Honours Finance) from the University of British Columbia, has completed the Advanced Executive Program at the Kellogg School of Management at Northwestern University, and is a graduate of the Institute of Corporate Directors. |
Glen SilvestriVice-President | Glen Silvestri leads the fund’s private equity transaction activities in the telecom, media, technology and energy services sectors. He joined Teachers’ in 2001 with a background in mergers and acquisitions and finance. Glen has been involved in many significant transactions, including the formation of MidOcean Partners through a management buyout of Deutsche Bank's private equity portfolio, and the acquisitions of Ames True Temper, CFM Corporation and Doane Pet Care Company. He presently sits on the boards of MLSE and CTVglobemedia. A Chartered Accountant, Glen earned a BA from the University of Western Ontario. |
Investment Operations
Dan HouleVice-President, Investment Operations | Dan Houle is responsible for the operations and administration of Teachers’ Investment division. Since joining Teachers’ in 1994, Mr. Houle has risen through positions of increasing responsibility in the Investment division’s IT department, most recently as Vice-President, Business Solutions. Mr. Houle received a BA (Economics) and a post-graduate diploma in Management Studies from Wilfrid Laurier University. |
























