Ontario Teachers’ names Graven Larsen CIO

Graven Larsen previously served as CIO of Denmark’s ATP. In his new role, he’s replacing Neil Petroff who retired from the Canadian pension plan in June.

The Ontario Teachers’ Pension Plan has appointed Bjarne Graven Larsen executive vice president and chief investment officer, according to the pension fund.

Graven Larsen, who has served as chief financial officer of Copenhagen-based Novo A/S since May, will start his new position in Toronto on 1 February.

In his career, he has worked as CIO of ATP, Denmark’s largest pension plan, between 1999 and 2011, and he also served as head of government debt management for the ministry of finance of Denmark between 1989 and 1991.

Toronto-based Ontario Teachers' managed $154.5 billion in net assets as of 31 December 2014 on behalf of 311,000 working and retired teachers. ATP currently has DKK700 billion (€93.8 billion; $101.8 billion) in assets and had DKK475 billion at the beginning of 2011 when Graven Larsen left.

In his new role, Graven Larsen will head Ontario Teachers’ senior investment leadership team, which was recently restructured to reflect the evolving global pension investment environment. That team includes Andrew Claerhout, senior vice president in charge of infrastructure and natural resources, and Jane Rowe, senior vice president in charge of private capital.

The pension plan announced in March that its previous CIO, Neil Petroff, who had been in this position since 2009, retired effective 1 June. He spent 22 years at Ontario Teachers’. Petroff joined private investment company Northwater Capital Management in October as vice chair.

Graven Larsen will report to president and chief executive Ron Mock.

“With his investment expertise, global experience, forward thinking on risk management, and importantly, hands-on work within a total return framework, Bjarne is uniquely positioned to be our chief investment officer,” said Mock in a statement. “He has the experience and vision to lead our world-class investment team into our next generation of global growth.”