PortsToronto has hired Aon Hewitt to provide outsourced chief investment officer services for its employee pension plan.
“From the beginning, we were interested in the potential of the OCIO model, and during the [request for proposal] process, Aon Hewitt was impressive in what they promised to deliver to us with an integrated approach that we believe they are uniquely qualified to provide,” said Alan Paul, senior vice-president and chief financial officer at PortsToronto, in a release.
Read: 2016 Top 40 Money Managers Report: The ins and outs of OCIOs
PortsToronto is a federal government business enterprise that owns and operates Billy Bishop Toronto City Airport, the outer harbour marina and marine terminals at the port of Toronto.
Previously, PortsToronto worked with different consultants for actuarial and investment advice, while an internal investment committee made final decisions.