The Healthcare of Ontario Pension Plan is an independent provider of pensions specifically tailored to Ontario's healthcare sector. It is one of the largest and most respected pension plans in Canada and is an industry leader among multi-employer plans. Its excellent management team has achieved long-term growth and drives plan performance to ensure continued success into the future. Visit www.hoopp.com for more information.
For questions about your HOOPP pension:
Call: 416-646-6445 or 1-877-43-HOOPP(46677)
Office hours: 8am - 5pm, Monday - Friday
The Hospitals of Ontario Pension Plan was established by the OHA on January 1, 1960 to meet the retirement needs of the health care community. In 1993, HOOPP was continued as a multi-employer plan governed by a private trust agreement. In 2010, the name was changed to Healthcare of Ontario Pension Plan. The plan is a jointly sponsored pension plan whose primary purpose is to provide monthly payments to members for their lifetime after retirement.
HOOPP is governed by a Board of Trustees that is committed to its fiduciary responsibility to administer the plan and maintain the fund in the best interests of HOOPP's members.
The Board is composed of 16 Trustees who are appointed by five Settlor organizations: Ontario Hospital Association, Ontario Nurses' Association, Ontario Public Service Employees Union, Service Employees International Union, and Canadian Union of Public Employees. Each union appoints two members and the OHA appoints eight - fully half of the members of HOOPP's Board.
The OHA-appointees select a Lead Trustee who shares leadership of the HOOPP Board. The Chair and Vice-Chair are selected by the OHA-appointed Trustees and the union-appointed Trustees, on an alternating basis. These leaders ensure that HOOPP remains focussed on its mission to provide the foundation for a financially secure retirement for Ontario's healthcare workers.
Settlor organizations also may appoint non-voting observers to the Board who represent pensioners. Each union Settlor may appoint one Observer and the OHA may appoint up to four.
OHA's Relationship with HOOPP
As a Settlor of HOOPP, the OHA takes its stewardship responsibilities very seriously. The OHA's HOOPP Secretariat is an planning body internal to the OHA that assists the OHA's Board and management with strengthening the Association's stewardship of an independent HOOPP. As the focal point for all HOOPP-related matters within the OHA, the Secretariat identifies and coordinated activities related to HOOPP. This includes but is not limited to activities that strengthen:
- HOOPP's governance, and the Board-to-Board relationship between OHA and HOOPP;
- OHA's fulfillment of its settlor responsibilities;
- Relationships with key stakeholders (HOOPP Working Group, other settlors, OHA appointees to the HOOPP Board of Trustees, etc.);
- OHA's pension accounting capacity and understanding of pension governance and Ontario's pension regulatory environment; and,
- OHA's communications strategy in support of the Association's settlor role and of HOOPP's independence.
There are regular board to board meetings of the OHA with the lead OHA-appointed Trustee and senior management of HOOPP to ensure a shared understanding of the state of the Pension Plan and emerging issues that could impact its continued success. The OHA Board monitors developments in the Canadian and global regulatory environment affecting pension plans that supports HOOPP in its efforts to respond to these changes.
The OHA Board pays close attention to the expertise required to ensure the on-going success of HOOPP. A Competency and Diversity Framework for OHA Appointees has been adopted to assist the OHA Board in identifying the right people as Trustees of this highly successful pension plan.
The Lead Trustee liaises with the OHA Board to ensure the governance relationship between the two organizations functions well and provides advice to the OHA in relation to its responsibilities to HOOPP.
The Lead Trustee also collaborates with the OHA's President and CEO to develop tools and resources to support Trustees appointed by the OHA. As part of this commitment to HOOPP and its members, OHA has allocated resources to support the OHA-appointed Trustees in their governance role through administrative services and education about the health care context in Ontario and to liaise with HOOPP regarding emerging issues of mutual interest for which the OHA's position of Settlor could support HOOPP's efforts.
OHA Appointees to the HOOPP Board of Trustees
Giselle Branget's broad financial experience stems from a 30 year + career in finance, asset management, pensions, and M&A. Past roles have included VP Active Equities at Alberta Investment Management (AIMCo) responsible for the management of over $17 billion of global equities portfolios; VP, Treasurer for Ontario Power Generation and Chief Investment Officer of OPG pension funds ($14 billion) and its two Nuclear trust funds ($5 billion); CFO of Integrex (an Owens Corning company) and VP Corporate Development and Strategic Planning at Owens Corning (Ohio); Treasurer of John Labatt Limited; and progressive roles at IBM Canada including management of IBM Canada pension fund.
Giselle has a B.Comm. (Hons.) from University of Windsor and holds the designations of Chartered Professional Accountant (CPA, CA), Chartered Financial Analyst (CFA), and ICD.D from the Institute of Corporate Directors. Past corporate board roles have included Levitt Safety for over 15 years, Luxco, a privately owned US spirits company, Equitable Group and over 20 boards related to her corporate officer and fund management accountabilities.
Julie Cays is the retired Chief Investment Officer of the CAAT Pension Plan. She led the investment function there for fifteen years, building the portfolio and team into a top-performing fund and organization over that time. Prior to that role, Julie spent five years at HOOPP where she was responsible for the external manager program. She also spent sixteen years at CIBC in various treasury, capital funding and pension investment roles.
Julie has been extensively involved in investment industry associations, including acting as chair of the board of the Canadian Coalition for Good Governance (CCGG) and the Pension Investment Association of Canada (PIAC). She is currently a member of the Pension Investment Committee for the University of Waterloo pension fund and of the Investment Advisory Committee of the Fairwater Capital Corporation, a family office.
Julie lives on Lake Simcoe and is an active volunteer at the Orillia Soldiers' Memorial Hospital.
Anthony Dale, President and CEO, Ontario Hospital Association.
Karli Farrow is the President and CEO at Trillium Health Partners (THP). Previously she was the Executive Vice-President of Patient Care Services and Chief Operating Officer where she was accountable for clinical operations and the delivery of exceptional patient experiences. She also oversaw capital planning and redevelopment to ensure that all future planning at THP is closely linked to the delivery of patient care.
Karli joined THP in 2009 prior to the merger of Credit Valley Hospital and Trillium Health Centre. She provided leadership to support the merger of the two organizations in 2011. She has since led innovative processes to engage people within the organization and in the community to achieve the hospital's strategic mission to deliver a new kind of health care for a healthier community.
Prior to joining THP, Karli worked in health care consulting where she led projects focused on reducing wait times and improving chronic disease management. She has also served in senior advisory roles for the Ontario Government, including Director of Policy for the Premier of Ontario and Chief of Staff to the Minister of Health and Long-Term Care, where she helped develop and implement strategies to improve access to care and long-term sustainability of the health care system in Ontario.
Karli is Chair of the Nominations and Governance Committee of Shared Services West, a health care shared services organization with expertise in supply chain management and process optimization, and serves on the Board of Trustees of the Healthcare of Ontario Pension Plan (HOOPP).
Karim Mamdani is the President and CEO of Ontario Shores Centre for Mental Health Sciences (Ontario Shores), a public specialty hospital that provides specialized assessment and treatment services for people living with complex mental illness. The teaching hospital engages in research, education and advocacy initiatives.
Karim's areas of focus include employee engagement, financial and operational management, governance, land and building development, collective bargaining and strategy development and execution. He has worked at a number of academic health science centres including the Centre for Addiction and Mental Health, University Health Network and the Hospital for Sick Children.
Karim is the past Vice Chair of the Ontario Hospital Association Board of Directors, Chair of the Board for RGP Toronto, Chair of the Audit and Finance Committee at the Canadian Institute for Health Information and a Board member of HOOPP. He is also the former Chair of Addictions and Mental Health Ontario. Karim holds an MBA from McMaster University and is a CPA.
William (Bill) W. Moriarty, CFA currently serves as a Trustee of the Healthcare of Ontario Pension Plan and Chair of the Asset-Liability Committee, Chair of the Invesco Canada Funds Advisory Board, Chair of Invesco Canada's Independent Review Committee, Senior Advisor to RP Investment Advisors, a Director of Canadian Overseas Investment Ltd., Chair of the MSK Charitable Foundation and an Advisor to CTM Biomedical Inc. Bill is the former President, Chief Executive Officer and Chief Investment Officer of University of Toronto Asset Management Corporation, a registered Portfolio Manager and Investment Fund Manager. Prior to joining UTAM during 2008, Bill was a Vice Chairman of RBC Capital Markets.
Over his career at RBC, Bill served as: Director of Equity Research and Chair of the Investment Strategy Committee; Head of the Global Research Division; Head of the Global Equity Division; Co-Head of the Capital Markets Services Division; and, Head of the Alternative Investments Division. He was also a member of the RBC Capital Markets' Operating and Executive Committees, Royal Bank of Canada's Pension Investment Committee, and a Director of RBC Asset Management Inc. (mutual funds) and RBC Capital Partners Limited (private equity).
In addition, Bill has served on several community, industry and public Boards and was a founding Director of the Investment Industry Regulatory Organization of Canada and Chair of Market Regulation Services Inc. (the SRO that regulated securities trading and market related activities of participants on Canadian Stock Exchanges and alternative trading systems). He also served as a member of the Ontario Ministry of Finance's Pooled Asset Management Implementation Working Group. Bill holds a BA from the University of Toronto, an MA from the University of Chicago, a CFA from the CFA Institute and completed the Board Effectiveness Program at the Rotman International Centre for Pension Fund Management.
Gerry Rocchi is a Toronto-based consultant and director. He has
been a Trustee of Healthcare of Ontario Pension Plan since 2017, and is
currently lead Trustee of the OHA Caucus, as well as Chair of the Board. He was
CEO of Barclays Global Investors Canada (now Blackrock Global Investors Canada)
from 1997 to 2005, where he launched the iShares business in Canada. He
co-founded Green Power Action, the manager of the Greening Canada Fund, which
was Canada’s first carbon offset credit fund and operated from 2009 to 2015. He
served as the first non-industry Chair of the Investment Industry Regulatory
Association of Canada (now the Canadian Investment Regulatory Organization), a
self-regulatory organization that regulates investment dealers and equity
marketplace trading in Canada since its inception in 1916. He managed the
pension fund of Imperial Oil from 1992 to 1995. Gerry has served on boards in
Canada and the U.K., investment committees, and regulatory bodies, and has
provided consulting to several pension and investment organizations in Canada,
the U.S. and the U.K. In addition to
being a Trustee of HOOPP, he currently serves as Chair of the board of
Echoworx, a technology company based in Toronto, as a member of the CEO
Advisory Council for the Ontario Securities Commission, and as a member of a
family office investment committee.
Nick Zelenczuk was the Senior Managing Director and Chief Operations Officer of the Canada Pension Plan Investment Board, a professional investment management organization that invests the funds of the Canada Pension Plan to pay current benefits on behalf of over 20 million Canadian contributors and beneficiaries; this role followed four years as Chief Financial Officer of CPPIB. Nick has more than 30 years of experience in the financial services industry. He has held a number of senior roles in investment banking, telecommunications, and consulting. Earlier in his career, he served as President and CEO of Deutsche Bank Canada.
Nick holds an Honours Bachelor of Commerce degree from Queen's University, has a CPA designation and is a Fellow of CPA Ontario. Nick also holds the ICD.D designation from the Institute of Corporate Directors. Nick currently serves on other boards including Laurentian Bank Canada (a schedule 1 bank based in Montreal, Quebec) , Teine Energy Ltd. (an oil and gas exploration and production company based in Calgary, Alberta), Wilton Re Ltd. (a life reinsurance company based in Norwalk, Connecticut), and Opera Atelier (a baroque period opera company based in Toronto, Ontario).