Vestcor Announces Selection of New President and Chief Executive Officer | February 6 2024

FREDERICTON – Vestcor Inc. (Vestcor), an integrated investment management, pension and benefits administration organization providing services to over 20 different Atlantic Canadian public sector client groups, today announced the upcoming appointment of Mr. Sean Hewitt, CFA, ICD.D, as its new President and Chief Executive Officer.

The Board of Directors of Vestcor Inc. undertook a comprehensive search process after John Sinclair, who has successfully led the organization for 20 years, announced his plans to retire last year. Sinclair will remain as President and CEO at Vestcor, which has over $20 billion in investment assets under management, until Hewitt joins the organization in mid-April.

Hewitt has nearly 20 years of progressive experience within the pension and investment industries from across Canada. In 2016, he was appointed to his most recent position as the inaugural Chief Executive Officer of the Toronto Transit Commission (TTC) Pension Plan. He was instrumental in assembling the leadership team under a new organizational structure and developing its strategic approach. Today, the TTC Pension Plan represents over 25,000 members and retirees, with over $8 billion in assets under management.

“I am very pleased with the outcome of the work of our Board of Director’s Ad-Hoc CEO Search Committee” said David Losier, Chair of Vestcor’s Board of Directors. “Their comprehensive nationally based search process resulted in interest from a great number of qualified candidates who were extensively assessed by our committee. We are now actively engaged with both John and Sean to ensure a prudent transition and we look forward to introducing Sean to our many stakeholders in due course.”

Tanya Chapman, Vestcor Director and Chair of the Search Committee noted “Sean Hewitt brings a wealth of experience in the pension and investment industry. 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. We are confident Sean’s experience and strategic approach will benefit Vestcor and our clients over the long-term.”

Hewitt obtained a Bachelor of Economics from the University of Calgary, is a CFA charterholder, and holds the ICD.D designation with the Institute of Corporate Directors.

Vestcor is an independent not-for-profit company headquartered in Fredericton, New Brunswick that provides global investment management services and benefits administration to public sector client groups representing 150 employer groups and more than 111,000 individuals. Assets under management have grown from approximately $6 billion in 2003 when Sinclair assumed his leadership role to over $20 billion today.

About Vestcor

A Partner in Creating and Delivering Sustainable Financial Security.

Vestcor is an independent not-for-profit company located in Fredericton, New Brunswick which provides global investment management services to 10 different public sector client groups representing approximately $20 billion in assets under management as of December 31, 2022, and administration services to 11 public sector pension plans and 4 employee benefit plans.

Vestcor’s team of more than 150 service professionals provides innovative, integrated, cost-effective investment management and pension and benefit administration services solutions to public sector entities. Vestcor currently services the requirements of over 111,000 individual plan members and 150 participating employer groups. Further information about Vestcor is available at Vestcor.org.

—-

For information:

John Sinclair
President and Chief Executive Officer

Elizabeth-Anne McCleave
Director Communications

(506) 453 2296