|NID 2013 Honouree|
| The Right Honourable Paul Martin
During his tenure as Minister of Finance, he erased Canada’s deficit which was the worst of the G7, subsequently recording five consecutive budget surpluses while paying down the national debt and setting Canada’s debt-to-GDP ratio on a steady downward track. He also introduced the largest tax cuts in Canadian history and the largest increases in the federal government’s support for education, and research and development. In conjunction with his provincial counterparts, he restored the Canada Pension Plan, securing it for future generations. He also strengthened the regulations governing Canada’s financial institutions, with the result that Canada is now viewed as an international model for sound financial regulation. In September 1999, Mr. Martin was named the inaugural chair of the Finance Ministers’ G-20, an international group of finance ministers and central bank governors composed of the G-7 and emerging market nations. As Prime Minister he pushed strongly for its elevation to the Leaders’ level which subsequently occurred in 2008. He is respected internationally in large part for his innovative leadership in working to forge a new global financial order.
During his tenure as Prime Minister, Mr. Martin’s many achievements included setting in place a ten year, forty-one billion dollar plan to improve health care and reduce wait times; signing agreements with the provinces and territories to establish a national early learning and child care program and creating a new financial deal for Canada’s municipalities. Under Mr. Martin’s leadership in November 2005, the Canadian Government reached an historic consensus with Canada's provinces, territories, First Nations, Métis and Inuit leaders that would eliminate the gaps between Aboriginal and non-Aboriginal Canadians in the areas of health, education, housing and economic opportunity. This agreement became known as the Kelowna Accord. Further, he introduced the Civil Marriage Act which redefined the traditional definition of marriage to include same-sex couples.
Since leaving office, Mr. Martin co-chaired a high level panel responsible for submitting a report on a new strategic vision for the African Development Bank, following upon an earlier United Nations panel report on private sector investment in the Third World of which he co-chaired.
Currently, Mr. Martin chairs the two hundred million dollar British-Norwegian poverty alleviation and sustainable development fund for the ten-nation Congo Basin Rainforest. He also sits on the advisory council of the Coalition for Dialogue on Africa, an initiative that examines the critical issues facing the continent. It is sponsored by the African Union, the UN Economic Commission for Africa and the African Development Bank.
Domestically, he leads the Martin Aboriginal Education Initiative which aims at reducing the Aboriginal youth dropout rate and at increasing the number of Aboriginal students attending post-secondary institutions. He also founded, along with his son David, the Capital for Aboriginal Prosperity and Entrepreneurship Fund, whose investments seek to further a culture of economic independence, ownership and entrepreneurship amongst both on and off reserve Aboriginal peoples, through the creation and growth of successful businesses.
Prior to entering politics, he had a distinguished career in the private sector as a business executive at Power Corporation of Canada in Montreal and as the Chairman and Chief Executive Officer of The CSL Group Inc, which operates the world’s largest fleet of self-unloading vessels and offshore transshippers. Its acquisition by Mr. Martin in 1981 represented the most important leveraged buyout in Canada at that time.
Mr. Martin graduated in honours philosophy and history from St. Michael's College at the University of Toronto and is a graduate of the University of Toronto Law School. He was called to the Ontario Bar in 1966.
In December 2011, he was appointed as a Companion to the Order of Canada. This honour recognizes a lifetime of outstanding achievement and merit of the highest degree in service to the country.
He married Sheila Ann Cowan in 1965. They have three sons: Paul, Jamie and David. They are the proud grandparents of Ethan, Liam and Finn, children of David and his wife Laurence.
Richard Duncan, Guest Author
| Don Drummond
Don Drummond was born and raised in Victoria, British Columbia, where he graduated from the University of Victoria. He subsequently received his M.A. in Economics from Queen's University. He is a keynote speaker on the economy and finance and is currently an Adjunct Professor with the School of Policy Studies and the Matthews Fellow in Global Policy at Queen’s University.
Mr. Drummond joined the federal Department of Finance upon completing his studies at Queen's. During almost 23 years at Finance, Mr. Drummond held a series of progressively more senior positions in the areas of economic analysis and forecasting, fiscal policy and tax policy. His last three positions were respectively, Assistant Deputy Minister of Fiscal Policy & Economic Analysis, Assistant Deputy Minister of Tax Policy & Legislation and most recently, Associate Deputy Minister. In this latter position Mr. Drummond was responsible for economic analysis, fiscal policy, tax policy, social policy and federal-provincial relations. In particular, Mr. Drummond coordinated the planning of the annual federal budgets.
Mr. Drummond joined the TD Bank in June 2000 as Senior Vice President and Chief Economist. Mr. Drummond left his post at TD in 2010. He continues to advise and speak on the global economy. In June of 2010 he became the new Matthews Fellow and Distinguished Visiting Scholar in the School of Policy Studies at Queen’s University. Mr. Drummond travels widely, speaking to various groups about the economy and its prospects and he is frequently quoted by the media on economic and policy issues.
| Richard Duncan
Richard Duncan is the author of three books on the global economic crisis. The Dollar Crisis: Causes, Consequences, Cures (2003) explained why a worldwide economic calamity was inevitable given the flaws in the post-Bretton Woods international monetary system. It was an international bestseller. The Corruption of Capitalism (2009) described the long series of US policy mistakes responsible for the crisis. It also outlined the policies necessary to permanently resolve it. His latest book, which has just been released, focuses specifically on the role that credit creation has played in this disaster. It’s entitled The New Depression: The Breakdown Of The Paper Money Economy.
Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis. He is now chief economist at Blackhorse Asset Management in Singapore.
Richard’s blog can be found at: http://www.richardduncaneconomics.com
| Dr. Bryne Purchase
Bryne Purchase is an Adjunct Professor at the School of Policy Studies, Queen’s University and a Fellow (and the founding Director) of the Queen’s University Institute of Energy and Environmental Policy. He is a former Chief Economist and Deputy Minister of Finance, Revenue and Energy Science and Technology of the Province of Ontario. He has also worked as a private consultant and for the Economic Council of Canada and the C.D. Howe Institute. He has a Ph.D. in economics from the University of Toronto and is the author and editor of a number of publications relating to economics, governance and competitiveness. His most recent book is Navigating on the Titanic: Economic Growth, Energy and the Failure of Governance, McGill-Queen’s University Press.
| Dr. William R. White
Dr. William R. White is the chairman of the Economic Development and Review Committee (EDRC) at the OECD in Paris. This committee carries on regular evaluations of the policies of both member countries and aspiring members of the OECD. In his capacity as chairman, to which he was appointed in October 2009, William White also contributes to meetings of WP1 and the Economic Policy Committee of the OECD. He is a member of the Issing Committee, advising the German chancellor on G-20 issues. William White has continued to publish articles on topics related to monetary and financial stability as well as the process of international cooperation in these areas. And he speaks regularly to a wide range of audiences.
Mr White joined the Bank for International Settlements (BIS) in June 1994 as Manager in the Monetary and Economic Department, and was appointed to the position of Economic Adviser and Head of the Monetary and Economic Department (MED), in May 1995. He oversaw the preparation of the prestigious BIS Annual Report for which he wrote the Introduction and Conclusions. As Head of the MED, he had overall responsibility for the department's output of research, data and information services, and the organisation of meetings for central bank Governors and staff around the world.
Mr White was also a member of the Executive Committee which manages the BIS. In this capacity, he contributed actively to various internal subcommittees which establish policies to guide the Bank's overall activities, including those of the Banking Department and Risk Control. He retired from the BIS on 30 June, 2008.
Mr White began his professional career at the Bank of England, where he was an economist from 1969 to 1972. Subsequently he spent 22 years with the Bank of Canada. His first six years at the Bank of Canada were with the Department of Banking and Financial Analysis, first as an economist and finally as Deputy Chief. In1978, Mr White took on different responsibilities as the Deputy Chief of the Research Department and was made Chief of the Department in 1979. He was appointed Adviser to the Governor in 1984 and Deputy Governor of the Bank of Canada in September 1988.
In addition to these permanent positions, Mr White spent six months (1985- 86) as a Special Adviser to the Canadian Minister of Finance and six years as a member of Statistics Canada's Advisory Panel on the National Income Accounts. Since the late 1980s, he has been an active participant in many international committees, including the EPC and WP3 at the OECD, the G-10 Deputies, and the Bellagio Group which brings together senior government officials, central bankers and academics.
Born in Kenora, Ontario in 1943, Mr White was educated at the University of Windsor and received his PhD from the University of Manchester in 1969. In addition to his many publications, Mr White speaks regularly to a wide range of audiences on topics related to monetary and financial stability.
Nicholas Le Pan, Former Superintendent of Financial Institutions
Tristram Lett, CIO, Integra Capital Management
| Chris Blanchard
Mr. Blanchard joined Presima in 2007; he is a portfolio manager focusing on emerging markets real estate securities. He is responsible for analysis, financial modeling and for investment decisions in these markets, as well as portfolio construction.
Mr. Blanchard joined the financial industry in 1999, in a role within Cordiant Capital, where he managed an emerging market portfolio. He subsequently took on a role as director of Capital Markets Group with CBRE in Montreal.
Mr. Blanchard holds a Bachelor of Arts from Queen’s University and is a Chartered Financial Analyst (CFA).
| Siddharth Dahiya
Siddharth Dahiya is a Portfolio Manager on the EMD team. Sid joined Aberdeen in June 2010 working as a credit risk analyst for the counterparty risk team. Previously, Sid worked for four years at ICICI Bank UK plc in London. He was part of the treasury investment team focusing on Indian bond investments. He started his career at ICICI with the corporate finance team focusing on cross-border M&A. Sid completed a post-graduate degree in business management from the Indian Institute of Management, Lucknow in 2006. Prior to that he completed a Bachelors degree (Hons) in Electronics & Electrical Communication Engineering from Punjab Engineering College, India. He is CFA Charterholder.
| Dr. William De Vijlder
Dr. William De Vijlder began his career in the Economic Research Department at Belgium’s Generale Bank in 1987 and became Chief Investment Strategist in the asset management division in 1989. He was previously Managing Director and Global Chief Investment Officer at Fortis Investments. When Fortis Investments merged with BNP Paribas Investment Partners in 2010, he became CIO Partners and Alternative Investments, and subsequently CIO Strategy and Partners, the position he currently holds. He is a member of the Management Committee of BNP Paribas Investment Partners. William has a Ph.D. in economics and has been senior lecturer in finance and economics at the University of Ghent in Belgium since 1991.
| Malcolm Hamilton
Malcolm Hamilton is a Partner of Mercer. He specializes in the design and funding of employee benefit plans in both the private and public sectors. His clients include the Colleges of Applied Arts and Technology and the Ontario Teachers’ Pension Plan.
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 frequently speaks at pension conferences.
| Brad Hintz
Brad Hintz is the Senior Research Analyst covering the securities and asset management industries at Sanford C. Bernstein. Brad has spent 20 years on Wall Street, serving for three years as the Chief Financial Officer and Managing Director of Lehman Brothers Holdings (NYSE: LEH) and for 10 years at Morgan Stanley Group (NYSE: MS) as a Partner of that firm and its Treasurer.
Prior to coming to Wall Street in 1986, Mr. Hintz was Vice President and Treasurer of Anderson Clayton & Co (formerly NYSE: AYL) — a Fortune 200 Consumer/Food Products Company. He also was Group Vice President at the Northern Trust Company (NYSE: NTRS) and served in various financial positions at Standard Oil of California (NYSE: CVX).
Mr. Hintz holds a Bachelor of Science degree from Purdue University, a Master of Science degree from the University of Southern California, and a Master of Business Administration from the Wharton School of the University of Pennsylvania. He grew up in Edina, Minnesota. Mr. Hintz is on the Deans Advisory Board of the Krannert School of Purdue University and on the Board of Advisors of the Marshall School of the University of Southern California. He is a Lieutenant Commander in the U.S. Naval Reserve.
| Hugh Innes
Hugh has worked in the fields of investment consulting and investment management for over thirty-five years, since graduating from the University of Trinity College in 1976. He has worked with a broad range of clients, including corporate pension funds, unions, foundations, endowments, family offices and high-net-worth individuals.
He began his career in investment consulting working with some of Canada’s leading pension plan sponsors. This involved assessing the investment performance of the industry and individual corporate, multi-employer, union and government plans.
In 1983, he joined an investment management firm that was a pioneer in Canada in the use of option strategies in institutional portfolio management as a risk reduction strategy. During this time he worked with some of Canada’s largest corporations and unions.
Since that time he has worked with both investment management firms and investment consulting firms providing advice to clients on performance evaluation, investment policy development and asset allocation. When providing independent consulting advice he also assisted clients in the selection of appropriate investment managers.
In 2002, he joined a partnership with a focus on marketing alternative investment products to money managers, institutional and high-net-worth clientele.
He is a past member of the Board of Trustees of the Upper Canada College Foundation and the University of Trinity College and chaired both of their respective Investment Committees. Presently he sits on the Board of the Rekai Centres in Toronto and chairs the Rekai Charitable Foundation.
| Nicholas Le Pan
Nick Le Pan has extensive experience in financial services regulatory and supervisory matters and in risk governance. He is on the Board of CIBC, a major Canadian chartered bank, and chairs its risk committee. He also Chairs the Board of Directors of CPAB, the independent Canadian regulator of audit firms of reporting issuers. He consults on financial services matters, including for the IMF. He was the Superintendent of Financial Institutions for Canada from 2001 – 2006, and prior to that held various positions in Canada responsible for regulatory legislation and policy, both domestically and internationally.
| Alfred Lee
Alfred develops tactical and multi-asset strategies using ETFs and manages the BMO ETF guided portfolio found in the Portfolio Strategy Report. In addition, he is the co-portfolio manager of the BMO ETF Completion Portfolio, a tactical liquid alternatives strategy comprising of various non-core ETFs.
Prior to joining BMO Asset Management Inc., Alfred spent four years at a large Canadian based brokerage covering ETFs as well as providing daily commentary to commodities, foreign exchange, international macro and sat on the investment committee that managed the firm's active equity strategies. Alfred is a graduate of the University of Western Ontario, majoring in economics and holds the CFA, CMT and DMS designations. He is also a current member to the International Association of Financial Engineers (IAFE).
| Philippe Lespinard
– Appointed as Chief Investment Officer for Fixed Income in November 2010 with direct responsibility for Global Government, Global Aggregate and Absolute Return strategies
– Philippe was a Partner and Head of Absolute Return Strategies at Brevan Howard Asset Management since 2008. He was previously, Deputy Chief Executive Officer at Fisher Francis Trees & Watts (part of BNP Paribas Asset Management) with responsibility for investments, risk management and product strategy.
– From 2002 to 2006, he was Chief Investment Officer at BNP Paribas Asset Management with responsibility for €150bn assets under management, across fixed income and equities. He was named CIO of the year by Funds Europe in 2005.
| Tristram Lett
Tristram Lett is CIO of and a partner at Integra Capital Management. He chairs its investment policy committee and also has the specific responsibility of managing the firm’s Alpha Beta strategies.
Mr. Lett is the former Chair of the Board of Governors of the Toronto Futures Exchange. Recently he was Deputy Chair of the Alternative Investment Management Association of Canada (AIMA), the hedge fund industry association, and a member of a number of its committees. Currently he is a member of the Board of Directors of the Fields Institute for Research into the Mathematical Sciences, a member of the editorial advisory board of the Canadian Investment Review, a member of the Professional Risk Managers Industry Association (PRMIA) and the International Association of Financial Engineers (IAFE).
He has been frequently published on investment matters in industry journals and is a regular speaker at national and international conferences. He currently writes a blog on hedge fund issues for the Canadian Investment Review Online. He holds a M.Sc. (Econ.) from the London School of Economics. He is registered as Investment Counsel and Commodity Trading Manager with the OSC.
| Bruce Little
Bruce Little spent most of his career working as a journalist and policy analyst, primarily in economics and public finance. As a journalist, he worked for the Hamilton Spectator, St. John's Daily News, Financial Times of Canada, Southam News Services, CBC Radio and The Globe and Mail. In the early 1980s, he was a policy analyst in the Federal-Provincial Relations Office.
From 1984 to 2004, he covered economic issues and government budgets for The Globe and Mail and served stints as assistant managing editor of the newspaper and managing editor of Report on Business. He was the first recipient of the Canadian Policy Research Initiative’s media award and also received the Hyman Solomon Award for Excellence in Public Policy Journalism from the Public Policy Forum.
He has since done projects for Finance Canada, the Conference Board of Canada, the Council of Canadian Academies, the Canada Pension Plan Investment Board and the Drummond Commission on the Reform of Ontario’s Public Services. In 2005-06, he was Special Adviser to the Governor of the Bank of Canada. He is a member of Statistics Canada’s Advisory Committee on Labour and Income Statistics and the National Statistics Council.
He is the author of Fixing the Future: How Canada’s Usually Fractious Governments Worked Together to Rescue the Canada Pension Plan, published in 2008 by Rotman/University of Toronto Press. The book was short-listed for the 2009 Donner Prize, awarded to the best book on Canadian public policy.
| Daniel Marchand
Daniel Marchand is Senior Vice President at Nuveen Investments. He is responsible for all business development and consulting activities for Nuveen Investments in Canada. Prior to joining Nuveen, Daniel was President and CEO of Pfiffner Management Inc, a Montreal-based family office and CEO of the Canadian Renewable Energy Fund, a private equity fund. He is currently a member of the Board of Directors and audit committee of Innovente Inc., an emerging Canadian renewable energy company. He has also held senior management positions at Lazard Asset Management and RBC Global Asset Management. He holds a BA in economics from Concordia University.
| Samy Muaddi
Samy Muaddi is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He is a portfolio manager/analyst in the Fixed Income Division responsible for emerging market corporate bond investments and credit research. Prior to joining the firm as an associate analyst in 2006, Samy graduated summa cum laude from the University of Maryland, College Park, with a B.A. in economics. He also has earned the Chartered Financial Analyst designation.
| Daniel Wywoda
As head of BNY Mellon Asset Servicing’s Global Product Management group, Dan Wywoda oversees all aspects of product innovation, development, and implementation that support the Asset Servicing business. The group sets the short-term and long-term development plans for each product, and is responsible for establishing technology budgets and allocation of capital for major product initiatives to achieve appropriate returns on investments. As head of the group, Dan leads a team that sets individual product strategies to meet specific product financial goals while also contributing to high levels of client satisfaction and industry leadership for the asset servicing business as a whole.
Before taking on this role, Dan was responsible for the Global Custody and Fund Accounting businesses for heritage Mellon Europe. Based in London from 1995 to 1998, he developed the business strategy of expansion through heritage Mellon’s highly successful joint venture with ABN AMRO. He also developed heritage Mellon’s trustee and custody business in Dublin to service offshore clients.
Prior to his appointment as heritage Mellon’s head of global custody for Europe, Dan was responsible for product development initiatives from 1989 to 1995, and was the lead technology manager in support of Mellon’s integration with The Boston Company.
Mr. Wywoda earned his Bachelor of Science degree in Management from the University of Scranton.
|Plan Sponsor Speakers|
Julie Cays, Chief Investment Officer, Colleges of Applied Arts and Technology (CAAT) Pension Plan
| Julie Cays
Julie Cays is the Chief Investment Officer at the Colleges of Applied Arts and Technology (CAAT) Pension Plan. She has extensive capital markets and pension investment experience gained at previous roles at CIBC and Healthcare of Ontario Pension Plan (HOOPP). Julie is on the Board of the Pension Investment Association of Canada and is a member of the Investment Advisory Committee of the Ontario Public Guardian and Trustee. She received her degree in economics from the University of Waterloo and has her Chartered Financial Analyst designation.
| Nachu Chockalingam
Nachu Chockalingam works in Teachers' Emerging Markets Fixed Income group, focused on the fund's investments in emerging market corporate bonds. Nachu joined Teachers' in February 2013, having spent the previous 12 years at J.P. Morgan in London. Nachu holds a BSc. degree in Economics from the London School of Economics and is a CFA charterholder.
| Robert Cultraro
Robert is the Chief Investment and Pension Officer at Hydro One Inc. Robert's expertise and responsibilities include pension plan governance, asset mix management, the selection and monitoring of investments, and risk management.
Robert has over twenty years of extensive experience in the investment industry, which includes investment research and analysis, investment consulting and managing investment portfolios.
Robert holds several industry credentials including the Chartered Financial Analyst, Chartered Alternative Investment Analyst and the Certified Investment Manager designations.
Robert is professionally affiliated with the CFA Institute, the Toronto CFA Society, the Chartered Alternative Investment Analyst Association, is a Fellow of the Canadian Securities Institute. Robert is also a member of the Investment Advisory Committee for the Office of the Public Guardian and Trustee.
| Jim Keohane
Jim Keohane joined HOOPP in 1999, bringing more than 25 years of institutional investing experience with several national firms.
As President and CEO, Jim is responsible for the overall leadership and management of the organization, as well as for developing, implementing and overseeing—in consultation with HOOPP’s Board of Trustees—performance measurement programs, long-term strategies and annual work plans to ensure the organization meets the needs of Plan beneficiaries.
After completing his Bachelor of Science degree at the University of Ottawa, he obtained his MBA at Queen's University. He is a Chartered Financial Analyst and has completed the Directors Education Program (Rotman School of Business) at the Institute of Corporate Directors.
| William W. Moriarty
William W. Moriarty, CFA is President and Chief Executive Officer of the University of Toronto Asset Management Corporation. Prior to joining UTAM in April 2008, Mr. Moriarty was a Vice Chairman of RBC Capital Markets. Over his career at RBC, which began in 1983, Mr. Moriarty has served as: Director of Equity Research and Chair of the Investment Strategy Committee; Head of the Global Research Division; Head of the Global Equity Division; Co-Head of the Capital Markets Services Division; and Head of the Alternative Investments Division. He was also a member of the Bank’s Pension Investment Committee, and a Director of RBC Asset Management Inc. and RBC Capital Partners Limited. In addition, he has served on several community, industry and public Boards and was a founding director of IIROC and the Chair of Market Regulation Services Inc. – the SRO which regulated securities trading and market related activities of participants on Canadian Stock Exchanges and alternative trading systems. Mr. Moriarty holds a BA from the University of Toronto and an MA from the University of Chicago.