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Vestcor Inc.’s chief executive officer John Sinclair will retire after 20 years with the organization.

He’ll stay on as CEO of the provincial investment management, pension and benefits administration organization until a successor is named following a board-led executive search process.

“On behalf of the board of directors and the over 150 professionals who work at Vestcor, I want to thank John Sinclair for his commitment to this organization and the over 111,000 pension plan and benefits program members who have benefited greatly from his expertise and leadership over the past two decades,” said David Losier, chair of Vestcor’s board of directors, in a press release.

Read: Vestcor posts 3.63% loss for 2022

Vestcor provides global investment management services and benefits administration to public sector groups representing 140 employers and more than 111,000 individuals. Since Sinclair assumed the role in 2003, assets under management have grown from about $6 billion to more than $20 billion today.

“I have been part of Vestcor for more than two decades and over that time we have built a world class investment management and pension services team based right here in New Brunswick for the benefit of New Brunswickers,” said Sinclair, in the release. “I want to thank my Vestcor colleagues, our owners and stakeholders for their strong support over the years and I will be watching with great interest as the organization continues its steady growth in the future.”

Read: New Brunswick public pensions create independent investment manager