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OMERS appoints new CIO

Date: Wednesday, August 5, 2009
Author: AltAssets.net

He has headed the real estate division since 2004. He has also served as CEO and a trustee of the Primaris REIT since 2003 and led its initial public offering of equity and debt. Under his leadership, Oxford Properties has grown to oversee and manage approximately $18bn of real estate, with annualised returns of approximately 18 per cent over the last five years.

Latimer is already a five-year member of OMERSí senior management team and the executive committee that reviews all major public and private market investment proposals. As CIO, he will be responsible for overall leadership of and collaboration among the OMERS investment entities that manage public equities, fixed-income securities, private equity, real estate and infrastructure assets.

The role of CIO was assumed by Michael Nobrega when he was appointed OMERS CEO in March 2007, consistent with the dual responsibilities held by his predecessor.

Nobrega will continue as OMERSí president and CEO with responsibility for the leadership and performance of the entire enterprise, including its corporate, pension plan and investment components. Bringing Latimer in to fill the CIO role will enable Nobrega to focus on overall corporate strategy.

OMERS is one of Canada's largest pension funds and provides retirement benefits to more than 390,000 members operating across the municipal government sector in the province of Ontario.