Collapsed Hedge Fund Chief To Lead Ontario Teachers'

May 15 2013 | 12:26pm ET

A former hedge fund manager has been named head of one of Canada's biggest pension funds.

Ron Mock will take over as CEO and president of the Ontario Teachers' Pension Plan next year, 13 years after joining C$130 billion pension. He succeeds Jim Leech, who is retiring after six years at the helm.

Mock joined OTPP a year after his Phoenix Research and Trading Corp. collapsed after losing US$125 million on U.S. bonds. The Ontario Securities Commission found that Mock failed to adequately supervise the trader whose investments led to Phoenix's demise, fined him and barred him from serving as an officer or director for six years.

That history didn't dissuade OTPP from naming him director of alternative investments in 2001, and isn't dissuading it now.

"We are 100% aware of the OSC case and we are fully confident in his abilities and integrity," OTPP spokeswoman Deborah Allan said. "What the OSC found was an oversight issue, however many years ago. We're going into this with eyes wide open."

Mock was promoted to senior vice president in charge of all fixed-income assets and hedge funds at OTPP in 2008.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...