January 06, 2015
Jean Turmel has been appointed the new Chair of the Ontario Teachers' Pension Plan Board. Mr. Turmel replaces Eileen Mercier, who retired from the Board after 10 years. Mr. Turmel has more than 40 years of capital markets experience, with positions at Merrill Lynch, Royal Securities, Dominion Securities, and a 25-year career with National Bank. He was appointed a member of the Teachers' Pension Plan Board in 2007, and most recently served as the chair of its Investment Committee. He is the president of Perseus Capital Inc., a fund management firm, and serves on the board of Canam Group Inc. and Alimentation Couche-Tard Inc. Mr. Turmel holds a B.Comm. and an MA from Laval University and is a recipient of the Queen's Diamond Jubilee medal for his contribution to the Canadian investment industry.
With $140.8 billion in net assets as at December 31, 2013, Teachers' is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 307,000 active and retired Ontario teachers.