Claude Lamoureux is retiring as president and chief executive officer of the Ontario Teachers’ Pension Plan (OTPP) at the end of 2007.
Lamoureux was the pension plan’s inaugural CEO, appointed in 1990 when the government established the independent corporation to replace the Ontario Teachers’ Superannuation Fund. Back then, the fund’s $19 billion of assets were all in Ontario government bonds; by the end of 2006, the fund had grown to $106 billion.
"Claude is a visionary and a pioneer. He leaves in place a legacy of member service and investment wisdom that is emulated by other pension plans and funds worldwide. The teachers of Ontario today enjoy a pension income that simply would not have been possible without his skill and leadership," said Eileen Mercier, chair of the OTPP.
Lamoureux will be succeeded by Jim Leech, currently senior vice-president of Teachers’ Private Capital. He joined the pension plan in 2001 and is the former president and CEO of merchant bank Unicorp Canada.