A trio of high-profile Bay Street veterans have been tapped to recommend candidates to serve on the Ontario Retirement Pension Plan Administration Corp.’s (ORPP AC) board of directors.
The Ontario government announced Friday that Susan Wolburgh Jenah, Carol Hansell, and Eileen Mercier will form the nominating committee.
Wolburgh Jenah is currently chairwoman of the ORPP’s initial board of directors (which also includes Murray Gold, managing partner at Koskie Minsky LLP; and, Richard Nesbitt, president and CEO of Global Risk Institute). Before returning to private practice as a senior advisor at Aird & Berlis LLP, she led the creation of the Investment Industry Regulatory Organization of Canada and served as its first president and CEO.
Hansell, who recently founded her own firm, Hansell LLP, is a leading expert on corporate governance in Canada.
Mercier, who is chairwoman of the ORPP AC nominating committee, is also currently chairwoman of the Canadian Payments Association, and was previously chairwoman of the Ontario Teachers’ Pension Plan.
The ORPP AC will be responsible for administering the provincial pension plan, including collecting and investing contributions. The new plan is scheduled to launch in 2017, with contributions starting Jan. 1, 2018.
“The establishment of the nominating committee marks an important milestone in our plan to expand pension coverage to over four million Ontario workers,” says Mitzie Hunter, associate minister of finance, with responsibility for the ORPP, in a statement.
“This highly accomplished committee will ensure that the very best talent is recruited to the ORPP AC board, supporting successful implementation of the ORPP and the effective governance of the corporation.”
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