The C$18.2bn (US$12bn) defined benefit Hospitals of Ontario Pension Plan (HOOPP) has appointed Douglas Carr as its new senior vice-president and chief financial officer.
Carr's appointment is effective immediately. He has been the pension fund's acting CFO since joining in February of this year. Prior to his arrival at HOOPP, Carr worked as an independent consultant after spending 25 years as a partner at KPMG.
John Crocker, president and CEO of HOOPP, said of Carr's appointment: We are delighted to have someone of Doug Carr's calibre join our executive team. His wide experience in areas ranging from business planning to treasury risk management brings a strategic depth to his role as CFO.
HOOPP was established in 1960 to meet the retirement needs of Ontario's health care workers. HOOPP serves 45,000 pensioners, as well as more than 116,000 members who work at the 320 health care organisations across the province.
By Geoffrey Ho
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers