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Jim Leech to Become New Chancellor of Queen’s University in Ontario

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Ontario Teachers’ Pension Plan (OTPP) has announced via Queen’s University in Ontario, Canada that Jim Leech, President and CEO of the OTPP, has been named the University’s newest chancellor.

His term will begin on Jul 1, 2014, and it will last three years. The decision was reached on October 18, months after Leech’s predecessor, David Dodge, announced he would not be seeking a third term.

OTPP announced in May of this year that Leech would be leaving the large pension investor effective January 1.

According to annual reports filed by the OTPP, Mr. Leech has been responsible for taking the pension fund from 89% funded in 2010 to 94.4% funded in 2011 and 97% funded in 2012. A 2013 annual report won’t be available until early 2014.

Queen’s University is a prestigious Canadian university located in Kingston, Ontario. It was established in 1841 and claims Sir Sandford Fleming, notable for his invention of standard time, as one of its early chancellors.

BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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