Ontario Municipal Employees Retirement System has named capital markets head Ralph Berg as its next chief investment officer, succeeding Satish Rai.
In April, Mr. Rai will move to an advisory role and plans to retire from OMERS late in 2024. He has been CIO since 2018 and also led OMERS’ capital markets arm during his eight years at the pension plan, while helping guide its expansion into Asian markets. He was previously CIO at TD Asset Management, a division of Toronto-Dominion Bank.
“Ralph is a proven investor and a seasoned executive,” said OMERS chief executive officer Blake Hutcheson, in a news release.OMERS had $119.5-billion of assets as of June 30 last year. Over Mr. Rai’s tenure as CIO, it has shifted more of its assets from public to private markets, which helped OMERS post steady results in the first half of last year, losing only 0.4 per cent despite difficult market conditions.
As a beneficiary, it is encouraging to see Berg take on the role of CIO at OMERS despite the odd timing ahead of the 2022 investment results. From my brief acquaintance, I believe Ralph is a top talent for OMERS, with the needed global experience and strong leadership potential