Speakers 2015

NID 2015 Honouree
Doug Pearce, Retired CEO/CIO, bcIMC (British Columbia Investment Management Corporation)

Doug Pearce, Retired CEO/CIO, bcIMC (British Columbia Investment Management Corporation)
Doug Pearce is the founding Chief Executive Officer and Chief Investment Officer of the British Columbia Investment Management Corporation (bcIMC), one of Canada’s largest institutional money managers. Doug led the organization from 1988 until he retired in June 2014 and during this time, the Victoria-based agency became an internationally recognized investor with a global portfolio of more than $118 billion diversified across dozens of countries and many asset types. bcIMC invests on behalf of different public bodies in B.C., including public sector pension plans that finance the retirement benefits of more than 550,000 British Columbians.
Doug has served as director and Chair of the Canadian Coalition for Good Governance (CCGG), the Pacific Pension Institute (PPI), and the Pension Investment Association of Canada (PIAC). He is a member of the Faculty Advisory Board at the University of British Columbia Sauder School of Business, the Advisory Board at the Forum for Women Entrepreneurs, and currently sits on corporate boards that support his interest in business strategy and good governance.
Doug received his Bachelor of Commerce degree from the University of Calgary, and is an accredited director in the Institute of Corporate Directors (ICD). He lives in Kelowna BC and has a passion for downhill skiing and biking.

Keynote Speaker
Dr.Philippa Malmgren, Founder, DRPM Group

Dr.Philippa Malmgren, Founder, DRPM Group
Dr. Philippa Malmgren, through her firm, DRPM Group, helps companies, investors and policymakers better understand how risk and prices will move across the economic landscape. She connects the dots, bringing together insights about markets, politics, policy and geopolitics that signal important and investable trends. The clients of DRPM Group include many investment banks, fund managers and hedge funds as well as Sovereign Wealth Funds, pension funds, global corporations and family offices.
She serves on several advisory boards and working groups: the British Ministry of Defence Working Group on Global Strategic Trends, the Greater London Authority Infrastructure Advisory Board, the Legatum Institute at MIT and Indiana University School of Public Policy and Environmental Affairs.
She was a member of the President's Working Group on Financial Markets and the Working Group on Corporate Governance. She headed the Global Investment Management business for Bankers Trust in Asia.
She is a frequent guest on the BBC, including Newsnight and the Today Program, and a guest anchor on both CNBC's Squawk Box and Bloomberg's most widely viewed programs.
She has a B.A. from Mount Vernon College and a M.Sc. and Ph.D. from the London School of Economics.

Industry Experts (by lastname)
Karen Bater, Senior Fixed Income Investment Specialist, Aberdeen Asset Management
Andrew Brown, Director, Baillie Gifford
Alan Cauberghs, Investment Director, Fixed Income, Schroders
André Choquet, Senior Consultant, Financial Risk Consulting, Aon Hewitt
Dr. Michael Chui, Partner, McKinsey Global Institute
Doug Clark, Managing Director of Research, ITG
Heather Cooke, Director, Institutional Clients, Unigestion
Thomas Dodd, Executive Director, Pavilion Advisory Group
Tom Eisenhauer, President & CEO, Bonnefield Financial
Zev Frishman, Executive Vice President & CIO, Open Access Ltd.
Bruce Grantier, Former Managing Director, Pension Assets, Scotia Investment Management Ltd.
Janet Greenwood, Senior Vice President, Investment Solutions, Aurion Capital Management
Malcolm Hamilton, Senior Fellow, C.D. Howe Institute

Roger Ibbotson, Professor, Practice Emeritus of Finance, Yale School of Management
Daniel Kim, Director of Research, Zebra Capital Management LLC
Geoffrey King, Director/Senior Advisor, Financial Services Industry, Cisco Canada
Mark Kritzman, CEO, Windham Capital Management, LLC
Shailesh Kshatriya, Associate Director, Client Investment Strategies, Russell Investments Canada
Tanya Lai, Managing Director, Public Markets, Ontario Pension Board
Hrvoje Lakota, Principal, Head Strategist Dynamic De-Risking Solutions, Mercer
Michael Lewis, Currency and Asset Allocation Strategist, CIBC Global Asset Management
Graham MacKenzie, Head of Canadian Trading Desk, Liquidnet Canada
Andreas Park, Associate Professor of Economics and Finance, University of Toronto & Copenhagen Business School

Momtchil Pojarliev, Ph.D., Senior Portfolio Manager - Currencies, FFTW (subsidiary of BNP Paribas)
Marlene Puffer, Partner, Alignvest
Andy Rothman, Investment Strategist, Matthews Asia

Jos Schmitt, President & Chief Executive Officer, Aequitas NEO Exchange Inc.
Andrew Spence, Head of Liquid Alternatives, Scotia Institutional Asset Management
John Stackhouse, Senior Vice President, Office of the CEO, Royal Bank of Canada

Karen Bater, Senior Fixed Income Investment Specialist, Aberdeen Asset Management
Karen Bater is a Senior non-US Fixed Income Specialist on the Institutional Business Development Team. Prior to joining Aberdeen Asset Management in 2012, Karen served as Director of High Yield Strategies and Senior Portfolio Manager at Standish Mellon Asset Management responsible for managing US and global high yield portfolios. From 2000 to 2007, Karen led the high yield portfolio management team at NWD Investments Inc. She also spent 14 years at Wachovia Bank NA/Evergreen Investments and predecessor organizations where she served as a Senior Portfolio Manager on the Enhanced Yield Team. Karen earned a BS from The Pennsylvania State University and is a CFA® Charterholder.

Andrew Brown, Director, Baillie Gifford
Andrew Brown is a Director with the clients department at Baillie Gifford, with a focus on Japanese equities. He is the primary investment contact for all institutions that invest in Baillie Gifford’s Japan only strategies. As part of his role he also conducts regular stock research and attends annual investment trips to Japan. Prior to joining Baillie Gifford in 2007, Andrew held roles at Scottish Widows Investment Partnership and Ernst & Young. He graduated from Durham University with BA (Hons) in History and Politics in 1998 and is holder of the UK Securities Institute Diploma. Andrew is also a former internationalist 800 runner and before joining Baillie Gifford he took a year out to train with the Canadian track and field squad in Victoria, BC.

Alan Cauberghs, Investment Director, Fixed Income, Schroders

  • Appointed as Investment Director for Fixed Income in October 2013.
  • Alan was a founding partner at Serone Capital Management LLP, an alternative credit asset manager, since 2009. He was previously Managing Director at Fisher Francis Trees & Watts (part of BNP Paribas Investment Partners) where he was Head of the London office and responsible for Client Service and Business Development for the EMEA.
  • From 1998 to 2004 he was Deputy Head of Fixed Income at Dexia Asset Management, with responsibility for global fixed income
  • Prior to 1998 Alan held portfolio management functions at Corluy & Co. (now ABN AMRO) and worked at Credit Lyonnais.
  • Alan holds a Masters Degree in Finance from the University of Antwerp and a degree in Financial Analysis from ICHEC Brussels Management School. He is a CFA charter holder.

André Choquet, Senior Consultant, Financial Risk Consulting, Aon Hewitt
Position and Responsibilities
As a member of Aon Hewitt's Financial Risk Consulting Unit for the last 6 years, André Choquet brings tools to, and develops strategies for, investment committees to assist in identifying, quantifying, analyzing, and managing risks. He is also the Central Canada Market Lead for the firm's Outsourced Chief Investment Officer Solution where he implements the risk management strategies he developed.

Areas of Specialization

André is an actuary with 24 years of multi-national experience in financial management of pension plans. Since 2005, he has specialized in pension and enterprise risk management.

Professional Experience

Prior to Aon Hewitt, André was Director, Canadian and U.S. Pension & Benefits for Royal Bank of Canada and had broad and multi-dimensional responsibilities for key elements of the Total Rewards program covering 70,000 employees and retirees. Prior to this experience in the industry he was a senior consultant at another multi-national consulting firm where he led a group of ten associates developing a diagnostic tool to assess pension risk from six sources: financial, portfolio, benefit design, delivery, compliance and governance.
From 1999 to 2006 André was vice-president of a boutique actuarial consulting firm in Toronto where he designed and marketed the firm’s Individual Pension Plan (IPP) product distributed through an in-house on-line valuation system to clients, brokers, investment advisors and accountants.

Dr. Michael Chui, Partner, McKinsey Global Institute
Michael Chui is a Partner at the McKinsey Global Institute. He is based in San Francisco, CA, where he directs research on the impact of long-term disruptive technology trends, such as Big Data and Open Data, social media, and the Internet of Things, on business, the economy and society. He has served clients in the High Tech, Media and Telecom industries on strategy, innovation and product development, IT, sales & marketing, M&A and organization. Michael is a frequent speaker at major global conferences and his research has been cited in publications such as the Wall Street Journal, New York Times, Financial Times, Fast Company, Forbes, The Economist, The Times of London, WIRED, and Les Échos.
Michael holds a B.S. in Symbolic Systems from Stanford University and earned a Ph.D. in Computer Science and Cognitive Science, and a M.S. in Computer Science, from Indiana University. His Ph.D. dissertation, entitled “I Still Haven’t Found What I’m Looking For: Web Searching as Query Refinement,” examined Web user search behaviors and the usability of Web search engines.
Prior to joining McKinsey, Michael served as the first Chief Information Officer of the City of Bloomington, Indiana, where he re-architected the enterprise architecture using Open Source technologies and led a project that resulted in Bloomington becoming the first community in the world to offer both live and archived video streaming of public meetings on the Web.
Before that, Michael was founder and executive director of HoosierNet, Inc, a nonprofit cooperative Internet service provider that provided dial-up and broadband access to the Internet to consumers, nonprofits, governments and businesses.

Doug Clark, Managing Director of Research, ITG
Doug Clark has more than 20 years experience in the financial services and investment industry and was one of the original team members of ITG Canada when the Canadian operations were launched in 2000. In his current position he is responsible for research relating to index, ETF, market structure, liquidity event and market impact. Previous jobs include running the program and electronic arm of a large Canadian bank, and prop trading equities and derivatives for a large Canadian trust company. Doug is the former Chair of both the Canadian Security Traders’ Association, as well as the Ontario Securities Commissions’ Market Structure Advisory Committee.

Heather Cooke, Director, Institutional Clients, Unigestion
Heather Cooke, CFA, Director, is a member of the Institutional Clients team at Unigestion Asset Management (Canada) Inc. with responsibility for the Canadian institutional market. She joined Unigestion in December 2013 to launch their Canadian asset management business. Heather began her career in 1990 at Dean Witter Canada. From 1991 to 2006, Heather held progressive roles at Northern Trust Global Advisors (and its predecessor firm, Diversified Fund Management) in investment management and manager research such as Assistant Vice President, Manager Research, Senior Vice President, Director of Manager Research and Lead Portfolio Manager for the Diversified Fund of Canada, a family of multi-manager funds. She chaired the Canadian Investment Committee and was a member of the executive leadership group. In 2006, Heather left to build out Rogerscasey, Canada, as Managing Director, Investment Counsel and then in 2010, she joined Mercer as a Partner and Leader of Implemented Consulting to build out their Dynamic De-Risking Solution in their asset management business. Heather is a CFA Charterholder, and holds a Bachelor of Commerce degree from Queen’s University in Kingston, Canada and is a registered Portfolio Manager.

Thomas Dodd, Executive Director, Pavilion Advisory Group
As Executive Director, Mr. Dodd oversees relationship management, guides investment strategy and leads business development. He is a frequent speaker and has written articles related to salient investment management issues. Mr. Dodd joined Pavilion Advisory Group as a Senior Consultant in 1994. Mr. Dodd has 42 years of investment and actuarial experience. Prior to joining Pavilion, Mr. Dodd was a Principal at William M. Mercer Investment Consulting, Inc. His investment experience includes three years as an independent futures trader at the Chicago Board of Trade and 14 years as a consulting actuary. Mr. Dodd is a member of the CFA Institute, the CFA Society of Chicago and a Fellow of the Society of Actuaries. He is also a member of the Chartered Alternative Investment Analyst (CAIA) Association. Mr. Dodd earned a Bachelor of Science degree from Bradley University and a Master of Business Administration degree from Northwestern University.

Tom Eisenhauer, President & CEO, Bonnefield Financial
Tom has been President of Bonnefield since it was founded in 2009 and is responsible for the company’s overall operations. He has a broad range of private equity investing, investment banking and merchant banking experience. Prior to joining Bonnefield, Tom was the Managing Partner of Latitude Partners, which he co-founded in 1999. Latitude managed the Longitude Fund LP, a private equity fund that specialized in buyouts of private and public Canadian technology companies.
Previously, Tom was Managing Director of TD Securities and the founder and head of TD's technology investment banking operations. He was also a managing director of Lancaster Financial, a leading independent merger and acquisition advisory firm where he was employed from 1987 until it was acquired by TD Securities in 1995.
Tom is an avid cyclist, skier and sailor with interests in music, photography and numerous volunteer activities. He is a member of the Board of Governors of the University of King’s College. He has also organized several long-distance cycling tours in support of the MS Society of Canada.
Tom is a sought-after speaker and blogs regularly about farmland investment.

Zev Frishman, Executive Vice President & CIO, Open Access Ltd.
Mr. Frishman is Executive Vice President and Chief Investment Officer with Open Access Limited. He was a member of the Ontario Teachers Pension Plan investment team for 18 years (1994-2011). From 2002 he was Vice President, Global Equity Strategies.
Between 1980 and 1994 Mr. Frishman held senior investment positions with the Investment Management Division of Alberta Treasury and the Alberta Workers Compensation Board.
Mr. Frishman has been involved in all aspects of fund management – development of policies, strategic and tactical asset mix, risk management, selection of external managers, as well as internal management of global equity and overlay (derivative) portfolios. He is a regular conference speaker on a variety of investment management topics. He has received the 2010 Benefits Canada award for outstanding achievement and is on the 2010 list of “Top 25 Most Influential Plan Sponsors”.
Mr. Frishman holds a B.A. in Economics and Statistics (Cum Laude), a M.Sc. in Economics, and has completed PhD comprehensive exams in Finance. He is a graduate of the Institute of Corporate Directors. He is currently a member of the Brandes Institute Advisory Board and the Canadian Investment Review Advisory Board. He also serves as a board member and treasurer of a not-for-profit organization.

Recent Conference Presentations

  • The Toronto Stock Exchange, Canadian ETF Association & Toronto CFA Society ETF Conference – Asset Management Panel. October 7, 2014, Toronto

  • The Canadian Foundations & Endowments Forum - CIO Outsourcing: Will this Help Your Bottom Line? September 29-30, 2014, Toronto

  • The Canadian Foundations & Endowments Forum – Moderator: Fulfilling Your Fiduciary Duties. September 29-30, 2014, Toronto

  • Benefits Canada Benefits & Pension Summit - Expert Panel on Pension Reform: Exploring New Solutions. April 28-29, 2014, Toronto

Bruce Grantier, Former Managing Director, Pension Assets, Scotia Investment Management Ltd.
Bruce J. Grantier retired in 2008 after 16 years at Scotiabank, where he was, for the past nine, Managing Director, Pension Assets. Previously he was Chief Strategist and Head of Fixed-Income for Scotia Investment Management Ltd. He earned his BASc (Industrial Engineering) at the University of Toronto and MBA at York University. He is a CFA and CAIA charter holder and is a member of the Canadian Institute of Corporate Directors.
Memberships include: Brandes Institute Advisory Board, Toronto CFA Society (Portfolio Management Committee), Benefits and Pension Monitor Advisory Board, Niagara Institutional Dialogue Advisory Board, Cathoic Cemeteries-Archdiocese of Toronto Board of Directors, Granite Club Pension Committee, IPSol Capital Inc. Board (Lead Director), and Investment Advisory Committee of the Archdiocese of Toronto.
He has written articles and reviews for industry publications including the Journal of Investment Management, the Financial Analysts Journal, the Canadian Investment Review, and Benefits and Pension Monitor and publishes investment literature research reviews online through InvestorLit.

Janet Greenwood, Senior Vice President, Investment Solutions, Aurion Capital Management
Janet Greenwood manages the Investment Solutions team at Aurion Capital where she oversees the investment management structures and delivery of institutional pension fund solutions for over 20 years. This includes comprehensive fiduciary investment program design, structuring and implementation, asset mix, manager research oversight, investment analytics and performance measurement for the firm. A founding Aurion Capital partner, Janet is a member of the Aurion Asset Mix Committee and the Aurion Management team.
Prior to Aurion Capital, Janet worked with a major Canadian pension fund for 10 years holding managerial and analytic positions within finance and pensions including Director, Investment Research before moving to a Managing Partner position.
Janet is a graduate of the University of Western Ontario and Wilfrid Laurier University. She is past co-Chair of AIMA Canada Institutional Committee, is a member of Women in Capital Markets, and the Pension Management Association of Canada and has held member and chairing roles on various Investment Advisory Boards, ACPM and PIAC (Pension Investment Association of Canada) committees.

Malcolm Hamilton, Senior Fellow, C.D. Howe Institute
Malcolm Hamilton recently retired after 33 years at Mercer. He consulted to large Canadian pension plans in both the public and private sectors. He is currently a Senior Fellow with the C. D. Howe Institute.
Malcolm graduated from Queens University in 1972 as the Gold Medalist in Mathematics. He attended McGill as a National Research Council scholar, receiving his M.Sc. in 1975. He became a Fellow of the Canadian Institute of Actuaries and a Fellow of the Society of Actuaries in 1977. He speaks frequently at pension conferences.

Roger Ibbotson, Professor, Practice Emeritus of Finance, Yale School of Management
Roger Ibbotson is Chairman & Chief Investment Officer of Zebra Capital. He is a member of the Zebra Capital portfolio management team having served in this role since the firm was founded in 2001. He is also Professor in the Practice Emeritus of Finance at Yale School of Management. Professor Ibbotson is Founder, Advisor and former Chairman of Ibbotson Associates, now a Morningstar Company with in excess of $100 billion under advisement. He has written numerous books and articles including Stocks, Bonds, Bills, and Inflation with Rex Sinquefield (updated annually) which serves as a standard reference for information on capital market returns.
Professor Ibbotson conducts research on a broad range of financial topics, including investment returns, mutual funds, international markets, portfolio management, and valuation. He has published The Equity Risk Premium with William Goetzmann and Lifetime Financial Advice with Milevsky, Chen, and Zhu. He has also co-authored two books with Gary Brinson, Global Investing and Investment Markets. In addition, he has co-authored a textbook with Jack Clark Francis, Investments: A Global Approach. He is a regular contributor and editorial board member to both trade and academic journals. He is the recipient of many awards including Graham and Dodd Scrolls in 1979, 1982, 1984, 2001, 2004, 2007, 2011, 2012, and best Financial Analysts Journal article of 2013.
Professor Ibbotson served on numerous boards including Dimensional Fund Advisors’ funds. He frequently speaks at universities, conferences, and other forums. He received his Bachelor’s degree in mathematics from Purdue University, his M.B.A. from Indiana University, and his Ph.D. from the University of Chicago where he taught for more than ten years and served as Executive Director of the Center for Research in Security Prices.

Daniel Kim, Director of Research, Zebra Capital Management LLC
Daniel Kim is the Director of Research at Zebra Capital Management LLC, a Connecticut global equity manager specializing in the systematic application of investment strategies based on behavioral finance. Together with ZCM Chairman and CIO Roger Ibbotson, Daniel won Top Award honors in the CFA Institute’s Graham and Dodd Awards for “Liquidity as an Investment Style,” which was cited as the best Financial Analysts Journal article of 2013. Daniel is a frequently invited speaker at financial, medical, musical, scientific, and academic events, having established a unique multisectoral track record of building innovative yet practical solutions informed by the statistical modeling of large datasets. His research career began at the Harvard University High-Energy Physics Laboratory, where he designed computer software, firmware, and hardware for experimental particle physics analytics. Daniel subsequently became a medical school professor and informatics director at SUNY Syracuse, where he invented and patented an award-winning data integrity system for patient safety. While on the SUNY faculty, he also performed over 700 concerts professionally with the Syracuse Symphony Orchestra as a full-time first violinist and keyboardist. Since joining Zebra Capital in early 2012, Daniel has maintained connections to academia, most recently as a Statistician at the Yale School of Management. Dr. Kim earned A.B. magna cum laude, A.M., and Ph.D. degrees in Physics from Harvard University, and an M.B.A. from Yale University.

Geoffrey King, Director/Senior Advisor, Financial Services Industry, Cisco Canada
Geoff leads Cisco’s Industry Transformation portfolio for the Financial Services Sector in Canada. Geoff works with Business leaders to develop initiatives that leverage Cisco’s Internet of Everything expertise, solutions and services to improve operating economics, enable agile and collaborative workplaces, and transition to digital operating models through Innovation partnerships.
Geoff draws on a broad foundation of experience gained through leadership roles in Business Strategy, Organization Transformation, Strategic Alliances and M&A Integration in key sectors including Oil and Gas, I/T Services, Telecommunications, and Financial Services.
Prior to joining Cisco, Geoff worked with the Toronto Financial Services Alliance, a private-public partnership comprised of Financial Services organizations, three levels of Government and Educational Institutions, focused on enhancing the international reputation of the Toronto region as a vibrant Top 10 Global Financial Centre.
Prior to returning to Canada in 2009, Geoff was based in Barbados with FirstCaribbean International Bank, CIBC’s Caribbean subsidiary with operations in 21 countries, building the organization capabilities to profitably expand into new markets.
Prior to that, Geoff was based in Houston Texas with Williams Communications, where he led the integration of several acquisitions, the restructuring of the organization, and the development of Strategic Alliances with US and International firms.

Mark Kritzman, CEO, Windham Capital Management, LLC
Mark Kritzman is CEO of Windham Capital Management, LLC and the Chairman of Windham’s investment committee. He is responsible for managing research activities and investment advisory services. He is also a Founding Partner of State Street Associates, and he teaches a graduate finance course at the Massachusetts Institute of Technology.
Mark served as a Founding Director of the International Securities Exchange and has served on several boards, including the Institute for Quantitative Research in Finance, The Investment Fund for Foundations, and State Street Associates. He is also a member of several advisory and editorial boards, including the Center for Asset Management at Boston College, the Advisory Board of the MIT Sloan Finance Group, the Consortium for Systemic Risk Analytics, the Emerging Markets Review, the Financial Analysts Journal, the Journal of Alternative Investments, the Journal of Derivatives, the Journal of Investment Management, where he is Book Review Editor, and The Journal of Portfolio Management. He has written numerous articles for academic and professional journals and is the author of six books including Puzzles of Finance and The Portable Financial Analyst.
Mark won Graham and Dodd scrolls in 1993 and 2002, the Research Prize from the Institute for Quantitative Investment Research in 1997, the Bernstein-Fabozzi/Jacobs-Levy Award in 2003, 2006, 2011, and 2013, the Roger F. Murray Prize from the Q-Group in 2012, and the Peter L. Bernstein Award in 2013 for Best Paper in an Institutional Investor Journal. In 2004, Mark was elected a Batten Fellow at the Darden Graduate School of Business Administration, University of Virginia.
Mark has a BS in economics from St. John’s University, an MBA with distinction from New York University, and a CFA designation.

Shailesh Kshatriya, Associate Director, Client Investment Strategies, Russell Investments Canada
Shailesh “Shay” is an associate director, client investment strategies for Russell Investments within the Canadian strategy group based in Toronto. His primary responsibilities are to create and disseminate capital market insights aimed to help clients better understand the investment landscape as well as Russell’s investment management process. Shay provides expert analysis on specific market and financial strategy issues working with individual and institutional clients as well as Russell teams serving clients.
Shay has authored, as well as co-authored, several articles which have appeared in Russell publications in Canada as well as Russell globally. Shay has also been quoted in various publications such as the Globe & Mail, Toronto Star, National Post, among others; as well as been a guest on Canada’s Business News Network (BNN).
Shay joined Russell in 2005 as an investment analyst in Russell’s New York City office where he worked within the U.S. institutional analytics group.
Prior to Russell, Shay worked for Brown Brothers Harriman & Co., also in New York City. His most recent position there was as portfolio analyst within their private wealth management group; working with clients on investment strategy and asset allocation issues.

Tanya Lai, Managing Director, Public Markets, Ontario Pension Board
Tanya Lai is Managing Director, Public Assets at the Ontario Pension Board (OPB). OPB has $23 billion in assets, and is the administrator of a major defined benefit pension plan sponsored by the Government of Ontario whose membership base is made up of certain employees of the provincial government and its agencies, boards and commissions.
Tanya oversees the Plan’s public market assets where her main areas of responsibility are strategy research & implementation, portfolio construction, manager selection & monitoring across public market asset classes.
In addition, Tanya is a member of OPB’s Asset Mix Committee that actively manages the Plan’s aggregate risk exposures. Tanya joined OPB in 2008, leading the Plan’s entry into the emerging markets and the development of OPB’s investment policies.
Prior to joining OPB, Tanya has worked with Canadian-based pensions (both defined benefits & defined contributions plans) and endowments where she oversaw investment research on traditional/alternative asset classes, multi-manager structure design, and led initiatives in the area of risk management. Tanya has a MBA from University of Toronto Rotman School of Management, B.Comm (Honours) from University of Toronto, and is a CFA charter-holder (member of the Toronto CFA Society).

Hrvoje Lakota, Principal, Head Strategist Dynamic De-Risking Solutions, Mercer
Hrvoje is a Principal in Mercer’s Investment business in Toronto. He is also the Head Strategist for Mercer’s Dynamic De-Risking Solution in Canada and a member of Mercer’s Financial Strategy Group. He provides strategic investment advice to number of large and medium-sized pension plans, including asset liability analysis as well as investment strategy design (e.g. liability driven investment) and implementation.
Hrvoje originally joined Mercer’s Retirement business in 1997 and provided consulting services to a spectrum of clients on all aspects of pension plan design, administration, funding and accounting. He was the leader of Mercer’s Canadian Funding Specialists Group from 2008 to 2011 and Defined Benefit Risk Group from 2010 to 2011.
Hrvoje is a Fellow of the Society of Actuaries and a Fellow of the Canadian Institute of Actuaries. He is also a CFA Charterholder. He graduated with honours from the University of Waterloo with a Bachelor of Mathematics in Actuarial Science in 1997.

Michael Lewis, Currency and Asset Allocation Strategist, CIBC Global Asset Management
Michael leads the development of new quantitative models and processes within the firm’s currency management and asset allocation capabilities. He also plays a key role in helping the team improve existing quantitative strategies. Michael also provides product Specialist support to the institutional business development and client servicing team.
Prior to joining CIBC Asset Management in 2011, Michael was a Principal and Manager Researcher at Mercer. Previous roles included President of the Canadian affiliate for Bayesian Strategic Trading, Vice-President and Head of Asset Allocation Research at Nikko Securities and Quantitative Analyst at CDC Investment Management.
Michael holds a Master of Arts in Economics from Queen’s University, a Bachelor of Arts from University of Guelph and a Bachelor of Education from Queen’s University. He is also a CFA charter holder.

Graham MacKenzie, Head of Canadian Trading Desk, Liquidnet Canada
Graham MacKenzie joined Liquidnet Canada in 2014 to build out a Canadian trading desk. A senior equity trader with over 18 years of experience, Graham's responsibilities at Liquidnet include: helping domestic and international institutional investors navigate the Canadian equity markets, deliver portfolio trading services and manage client relationships.
A pioneer in the Canadian portfolio trading business, Graham began his trading career as an options trader on the floor of the TSX. Prior to joining Liquidnet, Graham worked at CIBC as Executive Director, Equity Markets where his responsibilities included Portfolio Trading, Head of the Retail Execution Services and Retail Block Trading desks. Prior to that Graham worked at RBC Capital Markets as Director, Global Equities. At both CIBC and RBC, Graham was responsible for managing their corporate trading relationships where he advised issuers on corporate buy backs, building toehold positions and disposing minority stakes.

Andreas Park, Associate Professor of Economics and Finance, University of Toronto & Copenhagen Business School
Andreas Park is an Associate Professor of Economics and Finance at the University of Toronto, where he has been a faculty member since 2003, and is currently a visiting Professor at Copenhagen Business School. His research covers empirical topics, such as the market impact of maker-taker pricing, dark orders, and high frequency trading, and theoretical topics, such as herd behavior in financial markets and the impact of trading mechanisms. His work has been published or is forthcoming at, e.g., Econometrica, the Journal of Finance, and the Journal of Financial and Quantitative Analysis. He has received and has been an affiliate on a number of research grants, including from the ESRC, SSHRC and the GRI. Andreas has served as Co-Director of the Master of Financial Economics program at University of Toronto, and he teaches courses on Market Microstructure, Trading, Investments, Asset Pricing, and Corporate Finance. His current research focuses mostly on the impact of high frequency trading and recent market structure changes in Canadian markets, and Andreas is the principal investigator of one of the teams that has been selected by IIROC to study this topic with their data.

Momtchil Pojarliev, Ph.D., Senior Portfolio Manager - Currencies, FFTW (subsidiary of BNP Paribas)
Momtchil is a Senior Portfolio Manager on the Currencies team at FFTW where he focuses on generating alpha for portfolios as well as contributing to the investment process, both in the judgment and quantitative styles. Momtchil also contributes to the growth and development of FFTW’s currency alpha strategy as a stand-alone product. He joined FFTW in 2013 and is based in New York.
Prior to joining FFTW, Momtchil was a director and senior portfolio manager at Hathersage Capital Management, responsible for both investments as well as business development for foreign exchange portfolios. Before that he was head of currencies for Hermes Fund Managers. Prior to Hermes he was a senior FX portfolio manager at Pictet Asset Management. Momtchil began his investment career at Invesco Asset Management, first as a senior economist and then as a senior FX portfolio manager. He has 14 years of investment experience.
Momtchil has advised various asset management firms, including PIMCO and Goldman Sachs Asset Management, in the area of currency return analytics. He has published extensively in finance and investment journals, including the Journal of Portfolio Management and the Financial Analysts Journal. Most recently, Momtchil has co-authored the book A New Look at Currency Investing, published by the Research Foundation of CFA Institute. He is a member of The Economic Club of New York and the Swiss Society for Financial Market Research. He currently serves on the Editorial Board of the Financial Analysts Journal.
Momtchil holds an MSc in finance from Vienna University of Economics and Business Administration (1998) and a PhD in financial econometrics from University of Basel (2001). He is a current CFA Charterholder.

Marlene Puffer, Partner, Alignvest
Marlene Puffer is a Partner of Alignvest Investment Management. Prior to joining Alignvest, Marlene was the President and Founder of Twist Financial an independent firm providing strategic advice, education, and investment strategy and implementation for institutional investors, boards, government agencies, and other market participants. Marlene has more than 20 years experience in senior roles and board positions at world-class financial institutions in investments, pensions, capital markets and academia. Marlene also serves as Board Trustee and Chair of the Asset-Liability Management Committee at the $53 billion Healthcare of Ontario Pension Plan (HOOPP). She has worked closely with institutional investors, unions, boards, senior management, governments, and academics in a variety of capacities.
Marlene’s previous experience includes roles as Chief Investment Officer at NAV Canada Pension Plan, Chief Strategist, Global Fixed Income at BCA Research (a global leader in independent macro investment strategy), business development and portfolio management at PIMCO Canada and Legg Mason Canada, fixed income analytics and debt capital markets roles on the trading floors at BMO and RBC. She began her career as a professor of finance at the Rotman School of Management at the University of Toronto.
Marlene holds a Ph.D. in Finance and Applied Statistics and a M.Sc. in Business Administration from the Simon Business School at the University of Rochester, and master’s and bachelor’s degrees in Economics from the University of Toronto. She holds a CFA charter and the ICD.D designation granted by the Institute of Corporate Directors.

Andy Rothman , Investment Strategist, Matthews Asia
Andy Rothman is an Investment Strategist at Matthews Asia. He is principally responsible for developing research focused on China’s ongoing economic and political developments while also complementing the broader investment team with in-depth analysis on Asia. In addition, Andy plays a key role in communicating to clients and the media the firm’s perspectives and latest insights into China and the greater Asia region. Prior to joining Matthews Asia in 2014, Andy spent 14 years as CLSA’s China macroeconomic strategist where he conducted analysis into China and delivered his insights to their clients. Previously, Andy spent 17 years in the U.S. Foreign Service, with a diplomatic career focused on China, including as head of the macroeconomics and domestic policy office of the U.S. embassy in Beijing. In total, Andy has lived and worked in China for more than 20 years. He earned an M.A. in public administration from the Lyndon B. Johnson School of Public Affairs and a B.A. from Colgate University. He is a proficient Mandarin speaker.

Jos Schmitt, President & Chief Executive Officer, Aequitas NEO Exchange Inc.
Jos Schmitt has more than twenty-five years of experience in the financial services industry both internationally and in Canada, with particular expertise in the market infrastructure space, across asset classes and across geographies.
Prior to joining Aequitas, Jos served as CEO of the Alpha Group of companies, including the Alpha Exchange; and as EVP Head of the Americas and Global Head of Capital Markets for a global professional services company focused on the financial services industry. During his tenure at this professional services company, he acted as strategic advisor and director of operational and/or technology programs for some of the largest market infrastructure organizations and broker-dealers around the globe.
Some of his previous roles include: President and CEO of a European Derivatives Exchange and Clearing House, President and CEO of a pan-European Indices Publisher, Chairman of a Derivatives SRO, and Head of Strategy and Business Operations at a European Stock Exchange.

Andrew Spence, Head of Liquid Alternatives, Scotia Institutional Asset Management
At Scotia Andrew is responsible for the development and management of SIAM’s Liquid Alternative funds and solutions.
Andrew has diverse buy-side experience at two of Canada’s largest defined benefit pension plans. At OMERS Capital Markets, Andrew advised on the strategic design template for a new alpha program, and had tactical responsibility for the development and management of a Global Macro Portfolio as well as management of the Quantitative Investments program.
At the Ontario Teachers’ Pension Plan, Andrew was responsible for asset-liability research and strategic asset allocation determination. He also managed the total fund overlay that controlled balance sheet risk. Andrew oversaw the active risk generated by deviations from asset allocation benchmarks, as well as off benchmark interest rate duration and the aggregate foreign exchange exposure.
Andrew has extensive sell-side experience as an economist, strategist, and research director. He was Global Head of Rates and FX Research at TD Securities, and Chief Economist for Canada at Deutsche Bank.
During 2002 and 2003 Andrew was seconded to the Bank of Canada as Special Adviser to the Governor, and was a member of the Monetary Policy Review Committee. He was also a member of the C.D. Howe Institute’s Shadow Monetary Policy Council.
Andrew is Senior Fellow at the C.D. Howe Institute, and is ad hoc lecturer at the University of Toronto, at the Munk School of Global Affairs.
Andrew started his career at H.M. Treasury in London in macro-policy analysis. He holds an M.Phil in Economics from the University of Bath, England.

John Stackhouse, Senior Vice President, Office of the CEO, Royal Bank of Canada
As Senior Vice-President in the Office of the CEO at Royal Bank of Canada, John Stackhouse is adviser to the executive leadership team and board of directors on economic, political and social affairs, and a champion for the bank on public policy.
Before joining RBC in January 2015, Stackhouse was editor-in-chief of The Globe and Mail, and led the news organization through the launch of a paid website, mobile apps and a historic redesign of the newspaper. He was previously the Globe’s business editor, foreign editor and, for seven years, a foreign correspondent based in New Delhi, India. His reporting won five National Newspaper Awards.
Stackhouse has interviewed a host of world leaders, including Vladimir Putin, George W. Bush, the Aga Khan, Aung San Suu Kyi and Benazir Bhutto. He has also written two books, Out of Poverty and Timbit Nation, and is due to publish a third, Mass Disruption: How the Digital Revolution is Changing What You Read, in Fall 2015.
He is a senior fellow at the Munk School of Global Affairs at the University of Toronto, and the C.D. Howe Institute, and serves on the boards of Saint Elizabeth Health Care and World Literacy Canada.
RBC is Canada's largest publicly traded company, and the world’s 12th largest bank, with approximately 78,000 employees and $940.6 billion in assets.

Plan Sponsor Speakers (by lastname)
Mark Blair, Director, Fixed Income & Alternative Investments, Ontario Teachers’ Pension Plan
Emilian Groch, Retired CEO, Alberta Teachers’ Retirement Fund Board (ATRF)
David Kaposi, Chief Investment Officer, Ontario Power Generation
Drew McFadzean, Director, Global Investment Strategy, OPSEU Pension Trust
David Tien, Senior Portfolio Manager, Canada Pension Plan Investment Board (CPPIB)
Tom Valks, Senior Investment Manager, CMHC

Mark Blair, Director, Fixed Income & Alternative Investments, Ontario Teachers’ Pension Plan
Mark Blair joined Teachers’ in 2005 and is currently responsible for portfolio construction in Fixed Income and Alternative Investments. He has also managed a portfolio of North American hedge funds. Prior to joining Teachers’, Mark worked at Algorithmics implementing custom enterprise risk management systems. He holds an MBA from Richard Ivey School of Business, Ph.D. from the University of British Columbia, and is a CFA charter holder. He currently teaches the Asset Management course in the Masters of Mathematical Finance program at the University of Toronto.

Emilian Groch, Retired CEO, Alberta Teachers’ Retirement Fund Board (ATRF)
Emilian Groch recently retired as CEO of the Alberta Teachers’ Retirement Fund Board (ATRF), after 21 years of successful leadership. ATRF provides retirement benefits, information services and asset management for 77,000 Alberta teachers and pensioners. Plan assets under management are $11 billion. Previously, he was the chief pension regulator of Alberta. Emilian is the Chair of the Board of Trustees of the Calgary Firefighters Supplementary Pension Plan, a member of the Government Relations Committee of the Pension Investment Association of Canada, and a member of the National Policy Committee of the Association of Canadian Pension Management. He was a founding director of the Canadian Coalition for Good Governance (2003 to 2011). He is a graduate of the University of Alberta with a B.Sc. honours degree (applied mathematics in statistics) and is a certified director of the Institute of Corporate Directors. Mr. Groch is a frequent speaker on pension industry and governance matters.

David Kaposi, Chief Investment Officer, Ontario Power Generation
David Kaposi joined Ontario Power Generation Inc. (OPG) in 2013 as Chief Investment Officer and leads a team that is responsible for managing OPG’s large investment portfolio of public and private assets. OPG’s Pension Fund has $13 billion in assets and serves over 22,000 members, making it one of the largest single-employer plans in Canada. Additionally, OPG manages a combined $17 billion in the Nuclear Used Fuel Fund and the Nuclear Decommissioning Fund.
David has been working in the institutional investment industry since 1998 and prior to joining OPG he was a Partner and Global Head of Alternatives at Mercer, where he was a member of the firm’s global Alternative Investment Committee. He was also a Partner with Bastion Infrastructure Group, and Director of Manager Research at Hewitt Associates (now AON Hewitt) in Canada.
David is a graduate Victoria College in the University of Toronto and is a CFA Charterholder.

Drew McFadzean, Director, Global Investment Strategy, OPSEU Pension Trust
Drew McFadzean currently leads the Global Investment Strategy group at OPTrust, which focuses on the development of long-term, cross-asset investment strategies. He joined OPTrust in 2008, serving most recently as a Portfolio Manager in the Private Markets Group, where he contributed to Private Equity and Infrastructure investment strategy and portfolio construction efforts. Prior to joining OPTrust, Drew was with London-based BMI Research, where he held various roles within the Global and Asian investment strategy teams. Drew earned a BA (Hons) from Queen’s University and an MSc from the University of Edinburgh.

David Tien, Senior Portfolio Manager, Canada Pension Plan Investment Board (CPPIB)
David Tien is a Senior Portfolio Manager at the Canada Pension Plan Investment Board (CPPIB) responsible for managing the Emerging Market Currency portfolio within the Global Tactical Asset Allocation team. Prior to joining CPPIB, David was a quantitative fixed income and currency strategist at Credit Suisse and Citigroup and a currency portfolio manager at Fischer, Francis, Trees & Watts. David was also an Assistant Professor of Finance at the Leavey School of Business at Santa Clara University. David holds a PhD in Finance from the University of California, Berkeley and a BS in International Economics from Georgetown University.

Tom Valks, Senior Investment Manager, CMHC
Tom Valks is a senior investment manager with Canada Mortgage and Housing Corporation (CMHC) and its pension fund. His main responsibilities include all the real estate and infrastructure investments. Tom has more than 20 years of institutional investment experience across various public and private asset classes, gained in North America and Europe. He holds the CFA charter, is a CPA, CMA in Canada, and is a graduate in economics from the HEAO-School in The Netherlands.
CMHC is Canada’s premier provider of mortgage loan insurance, mortgage-backed securities, housing programs, and housing research. The assets in the pension fund and insurance investment portfolios total more than $26 billion.