TTC Pension Plan CEO heads up Vestcor

Sean Hewitt has over 20 years of experience in the pension and investment industries

TTC Pension Plan CEO heads up Vestcor

A new face from the Toronto Transit Commission will be joining the Vestcor team in the coming months as their president and CEO.

Vestcor, an independent not-for-profit company that focuses on pension and benefits administration in New Brunswick, announced Tuesday the appointment of Sean Hewitt to their executive team. Hewitt, who led the TTC’s Pension Plan as CEO since 2016, has over 20 years of experience within the pension and investment industries across the country.

Hewitt is well educated, having received a bachelor’s in economics from the University of Calgary, is a CFA charterholder and also maintains the ICD.D designation with the Institute of Corporate Directors. He replaces John Sinclair, Vestcor’s current president and CEO, after Sinclair announced his retirement last year. Sinclair will stay in his role until mid-April, which is when Hewitt is expected to replace him.

“Hewitt brings a wealth of experience in the pension and investment industry,” Tanya Chapman, Vestcor director and chair of their search committee, said in a statement. “He led the establishment of the TTC Pension Plan as an independent organization, which had many parallels to the creation of Vestcor Inc. Sean’s focus on establishing collaborative and transparent culture of strong financial performance and member service excellence mirrors the approach Vestcor continues to follow.”

Today, the TTC Pension Plan represents over 25,000 members and retirees, with over $8 billion in assets under management.

David Losier, chair of Vestcor’s board of directors, said they are “now actively engaged with both [Hewitt and Sinclair] to ensure a prudent transition and we look forward to introducing Sean to our many stakeholders in due course.”

“We are confident Sean’s experience and strategic approach will benefit Vestcor and our clients over the long-term,” Chapman added.

Vestcor focuses on providing services to over 20 different Atlantic Canadian public sector client groups. Vestcor currently services the requirements of over 111,000 individual plan members and 150 participating employer groups. According to the company, their assets under management have grown from approx. $6 billion in 2003 when Sinclair assumed his leadership role to over $20 billion today.