TORONTO, Aug. 22, 2019 /CNW/ - OPTrust, one of Canada's largest defined benefit pension plans, today announced the appointment of Peter Lindley as the President and CEO of the organization, effective September 16, 2019. Mr. Lindley is a financial services industry veteran, with over 30 years of experience in strategy, investments and leading high performance teams.
"Peter Lindley brings deep experience in investing to this role and the Board is pleased to have someone of his expertise and calibre join OPTrust," said Michael Grimaldi, Chair, OPTrust Board of Trustees. "As a pension management organization, we exist to serve our members, and we are confident our members will continue to be in excellent hands under Peter's leadership."
Most recently Mr. Lindley was President and Head of Investments for State Street Global Advisors Ltd. (SSGA Canada), where he was responsible for assets under management of $50bn and SSGA's overall Canadian business strategy. He was with SSGA for the last 14 years. Prior to leading SSGA, Mr. Lindley held senior roles at Deutsche Bank and CIBC World Markets in Toronto. He is a strong advocate for defined benefit pensions and for responsible investing, which fits with OPTrust's core mission and values.
"I'm delighted to join an organization that creates retirement security for so many people and I look forward to building on OPTrust's legacy of delivering excellent results for the Plan's members," said incoming OPTrust President and CEO Peter Lindley.
"Defined benefit pensions like OPTrust offer tremendous value for Ontarians in every corner of the province," said Sharon Pel, Vice-Chair, OPTrust Board of Trustees. "I want to thank Interim President and CEO Doug Michael and our whole team for their diligent service. OPTrust is fully funded and in a strong position as our new CEO begins the work of continuing to deliver on our promise to our members."
Further details on OPTrust's recent initiatives and commitment to member experience can be found in the 2018 Funded Status Report, Building for the Future.
With net assets of almost $20 billion, OPTrust invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with almost 95,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government of Ontario.
For further information: MEDIA CONTACT: Joe Vecsi, OPTrust, Communications Advisor, 1- 416-681-6234, [email protected]