Jim Leech
CM CD OOnt[1]
14th Chancellor of Queen's University
In office
July 1, 2014[2] – 30 June 2021[3]
Preceded byDavid A. Dodge[4]
Succeeded byMurray Sinclair[5][6]
President and chief executive officer of the Ontario Teachers’ Pension Plan
In office
1 December 2007[7] – December 31, 2013[8]
Preceded byClaude Lamoureux
Succeeded byRon Mock
Personal details
Born
James William Leech

(1947-06-12) June 12, 1947[9]
Saint Boniface, Manitoba[9]
NationalityCanadian
SpouseDeborah Barrett[10]
ChildrenJennifer, Joanna and Andrew[10]
Alma materQueen's University
Royal Military College of Canada[11][12]

James William (Jim) Leech CM CD OOnt (born June 12, 1947) is a Canadian business executive. Since 2021, he has been chancellor-emeritus of Queen's University in Kingston, Ontario, Canada.[3] From 2014 to 2021, he was the 14th Chancellor of Queen's University.[13] Prior to that, he spent 12 years at the Ontario Teachers’ Pension Plan (OTPP), first for 6 years as a senior vice-president of OTPP head of Teachers' Private Capital, OTPP's private investment arm, and then as president and chief executive officer of the pension plan until his retirement in 2013.[12][14][15][16]

Early life, education and military service

Born in Saint Boniface, Winnipeg into a military family,[1] where his father, George Leech, and uncle, Don Laubman, were senior regular force career officers in the Canadian Armed Forces,[10][17] During his elementary and secondary school years, Leech moved around Canada living in Ottawa, Kingston as well as Canadian army bases , including CFB Kingston[9] and Camp Petawawa,[18] both in Ontario, and CFB Edmonton, Alberta.[19] He graduated from Queen Elizabeth High School (Edmonton) in 1964.

Leech attended Royal Roads Military College, whose 2-year program bridged with a 4-year degree at Royal Military College of Canada, where he majored in mathematics and physics and obtained his Bachelor of Science in 1968.[9] He joined the Royal Canadian Corps of Signals after graduation and was posted first at the 1er Batailion Royal 22e Régiment (1R22eR), and then at the 4 Canadian Mechanized Brigade Group Headquarters and Signal Squadron for the North Atlantic Treaty Organization forces in Werl and Soest, respectively, in then-West Germany.[10][20] He was promoted to captain at the age of 22[19] and returned to the 1R22eR Regiment in Lahr, West Germany as Signals Officer. He resigned from military service in 1971, and enrolled in Master of Business Administration program at Queen's University, where his father was working as a registrar after his retirement from the military.[19] Leech earned his MBA two years later.[9][12]

Leech is a graduate of the Institute of Corporate Directors (ICD) in 2004.

Early career

After graduating from MBA, Leech joined the Montreal-based financial and real estate firm Commerce Capital Corporation[9][19] and held senior executive positions in Montreal, Calgary and Toronto until the company's sale to Eaton/Bay Financial Services. In 1979, through founder George Mann, Leech joined Unicorp Canada Corporation, one of the first public merchant banks in the country,[9][19] becoming its president in 1983[9] by which time Unicorp had built a large US commercial real estate portfolio through the acquisition of US Real Estate Investment Trusts. He led the first major hostile takeover in Canada [21] in 1985,[19] gaining control of Union Enterprises Ltd., the parent company of Union Gas, a Southern Ontario natural gas utility company.[21][22] He became the president and CEO of Union Energy after the acquisition[9] which became one of the largest integrated energy companies in North America. Subsequently, Unicorp acquired Lincoln Savings Bank, a savings bank in New York, but the deal resulted in Unicorp's US subsidiary losing almost USD$100 million. In 1992, Vancouver-based Westcoast Energy Inc. (now Westcoast Transmission Co.) purchased Union Energy and Leech ended his relationship with the company.[19][23] Unicorp subsequently changed its name to Wilmington Capital Management Inc.

Leech next joined Disys Ltd. in 1993 as president and CEO.,[19][23] beginning his career into the technology sector. The main business of Disys was manufacturing smoke alarms, but it also had research in Radio Frequency Identification (RFID) technology, which Leech thought would be funded by the mature smoke-alarm business.[19] To effect this plan, he sold the smoke alarm business and merged Disys and the RFID into Kasten Chase Applied Research Ltd, which Leech moved to as vice-chairman in 1996.

In 1999, Leech joined Infocast Corp.,[24] an application service provider start-up based in Toronto.[23] He left in 2001.[19]

Career at Ontario Teachers’ Pension Plan

Initially planning to retire, Leech accepted an offer in 2001 from Claude Lamoureux, then-president and CEO of the Ontario Teachers' Pension Plan (OTPP), to become the senior vice-president of OTPP and lead the Teachers' Private Capital (TPC) (then named Teachers' Merchant Bank),[25] OTPP's private investment arm.[9] At that time, OTPP was about to change its way of investing, from holding only minority investment positions in publicly-listed companies and bonds to also buying control of private companies.[21]

Under Leech's leadership, Teachers' Private Capital and OTPP completed numerous large and high-profile transactions:

In September 2007, OTPP announced the appointment of Leech as its new president and CEO, succeeding Claude Lamoureux, who was retiring and has been leading OTPP since 1990. He started his new role on December 1, 2007.[7][14]

As CEO, Leech also oversaw a number of major deals, including four in 2010 (acquisition of Camelot Group, which operates the UK National Lottery[46][47][48] and of High Speed 1, then and still the only high-speed railway in the UK,[49][50][51] as well as sale of OTPP's stakes in Bell Media Inc. (then named CTVglobemedia Inc.) back to BCE Inc.[52][53] and of its stakes in Maple Leaf Foods, first to West Face Capital and then to BMO Capital Markets and TD Securities.[54] OTPP also sold MLSE to BCE Inc. and Rogers Communications in 2012,[30][33] and opened an office in Hong Kong in 2013, the second major regional office after its London office opened in 2007.[55]

Leech has expressed intention to retire at the end of 2013.[56] He retired from OTPP on December 31, 2013.[8][12] During his tenure, OTPP ranked number one amongst peer plans in the world in Five Year Investment Performance and Service to Members as measured by CEM Benchmarking Inc and reported a funding surplus.

Career after OTPP

Following his 45-year military and business career, Leech has focused on philanthropic leadership and non-partisan public service.

Leech assumed the role of the 14th Chancellor of Queen's University on July 1, 2014.,[1][24][57] furthering his involvement with his alma mater, which started with his election to the University Council and the board of trustees in the 1980s, and subsequent chairing the advisory board of Smith School of Business (formerly the Queen's School of Business)[58][59] on three separate occasions. His term ended in June 2021 and became chancellor-emeritus; he was succeeded by Murray Sinclair.[3]

In the same year, he also became Special Advisor to the Ontario Minister of Finance,[60] a senior advisor at the consulting firm McKinsey & Company in 2014,[12][61] the chair of the Board of Directors of the MasterCard Foundation,[62] and also Toronto General and Western Hospital Foundation.[12] which is now part of the UHN Foundation.[63] His term at these two foundations ended in 2018[64] and 2020[65] respectively, although he continued as a board member at both foundations.[66][67]

In 2014, Leech participated in a 53-person expedition to ski Canada's North Magnetic Pole, sponsored by True Patriot Love Foundation to raise funds and awareness to support Canadian veterans suffering from Post Traumatic Stress Disorder.

In 2017, Prime Minister of Canada Justin Trudeau appointed Leech Special Advisor on the Canada Infrastructure Bank.[68] He is also chairing the advisory board of Peloton Capital Management since its founding in 2018,[69][70] and of the Institute for Sustainable Finance at the Smith School of Business since its launch in 2019,[71][72][73] and sits on Board of Directors of Historica Canada.[74]

From 2014 to 2021, Leech served as Honorary Colonel of 32 Signal Regiment, Canadian Army in Toronto[17] and was awarded the Canadian Forces' Decoration for his military service.

In 2013, Leech co-wrote, with journalist Jacquie McNish, The third rail: confronting our pension failures, which discusses the crises facing the Canadian pension system.[75] It won the 2014 National Business Book Award[76][77] and was a runner-up of the 2013 Donner Prize.[78]

Honours and awards

The Jim Leech Mastercard Foundation Fellowship in Entrepreneurship, the Jim Leech MBA Scholarship, the Leech classroom, the Chancellor Jim Leech Bursary for Indigenous Students and the Jim Leech Ceilidh Centre at Queen's University are named after Leech.[84][85]

References

  1. 1 2 3 4 "Get to know University Councillor – Chancellor Jim Leech" (PDF). Queen's University. Archived from the original (PDF) on July 26, 2021. Retrieved June 18, 2021.
  2. ↑ Leroux, Craig (October 18, 2013). "Jim Leech named the next chancellor of Queen's University". Queen's Gazette. Archived from the original on June 21, 2021. Retrieved June 15, 2021.
  3. 1 2 3 Mazur, Alexandra (April 28, 2021). "Murray Sinclair named as Queen's University's 15th chancellor". Global News. Archived from the original on August 7, 2021. Retrieved August 7, 2021.
  4. ↑ Bowden, Olivia (October 25, 2013). "Jim Leech named next Chancellor". The Queen's Journal. Archived from the original on September 28, 2020. Retrieved June 19, 2021.
  5. ↑ "In Conversation with The Honourable Murray Sinclair, 15th Chancellor of Queen's University". CFRC-FM. May 2, 2021. Archived from the original on August 7, 2021. Retrieved August 7, 2021.
  6. ↑ "Former Sen. Murray Sinclair appointed as Queen's University chancellor". Canadian Broadcasting Corporation. April 28, 2021. Archived from the original on August 7, 2021. Retrieved August 7, 2021.
  7. 1 2 "Leech named CEO of Ontario Teachers' Pension Plan". Reuters. September 5, 2007. Archived from the original on June 15, 2021. Retrieved June 15, 2021.
  8. 1 2 "OTPP names Ron Mock President and CEO effective January 1, 2014, succeeding Jim Leech, who retires at year-end" (Press release). Ontario Teachers’ Pension Plan. May 14, 2013. Archived from the original on June 15, 2021. Retrieved June 15, 2021.
  9. 1 2 3 4 5 6 7 8 9 10 Kucharsky, Danny (June 9, 2020). "Jim Leech". The Canadian Encyclopedia. Archived from the original on June 15, 2021. Retrieved June 15, 2021.
  10. 1 2 3 4 5 "7771 Honorary Colonel James William Leech, CM". Royal Military College of Canada. September 12, 2016. Archived from the original on June 17, 2021. Retrieved June 17, 2021.
  11. ↑ Pickering, Alan (August 30, 2014). "New chancellor Jim Leech is a graduate of both Queen's and RMC". The Kingston Whig-Standard. Archived from the original on June 17, 2021. Retrieved June 17, 2021.
  12. 1 2 3 4 5 6 "Jim Leech C.M., O.Ont., LL.D, CD". LinkedIn. Archived from the original on June 17, 2021. Retrieved June 17, 2021.[self-published]
  13. ↑ "Chancellors". Queen's University. Archived from the original on August 7, 2021. Retrieved August 7, 2021.
  14. 1 2 "New CEO tapped for Ontario Teachers' Pension Plan". Canadian Broadcasting Corporation. September 5, 2007. Archived from the original on June 18, 2021. Retrieved June 18, 2021.
  15. 1 2 "New York, Canadian ports sold for $2.4 billion". NBC News. November 24, 2006. Archived from the original on June 18, 2021. Retrieved June 18, 2021.
  16. 1 2 "Pension Plan in Ontario Is Buying Ports in U.S. and Canada". New York Times. November 25, 2006. Archived from the original on June 18, 2021. Retrieved June 18, 2021.
  17. 1 2 3 "32 Signal Regiment Advisory Council". 32 Signal Regiment, Canadian Army. Archived from the original on June 21, 2021. Retrieved June 19, 2021.
  18. ↑ Leech, Jim (2015). "HCol Messages" (PDF). Journal of 32 Signal Regiment: eCommunicator. Vol. 15. 32 Signal Regiment, Canadian Army. Archived from the original (PDF) on September 20, 2018. Retrieved June 19, 2021.
  19. 1 2 3 4 5 6 7 8 9 10 11 DeCloet, Derek (August 29, 2008). "Teacher's Bet". The Globe and Mail. Retrieved June 19, 2021.
  20. ↑ "Announcement of Honorary Degrees at RMC's 116th Convocation". Royal Military College of Canada. October 9, 2019. Archived from the original on June 21, 2021. Retrieved June 21, 2021.
  21. 1 2 3 4 5 McLeod, Lori; Erma, Boyd (September 6, 2007). "From army brat to Bay Street general". The Globe and Mail. Retrieved June 25, 2021.
  22. ↑ Gilpin, Kenneth N.; Purdum, Todd S. (October 24, 1985). "Holder Of Top 3 Posts Quits Union Enterprises". The New York Times. Archived from the original on June 25, 2021. Retrieved June 25, 2021.
  23. 1 2 3 Pereira, Judith (October 26, 2001). "Whatever happened to...? Jim Leech". The Globe and Mail. Retrieved June 28, 2021.
  24. 1 2 "James W Leech "Jim"". Bloomberg. Archived from the original on July 7, 2021. Retrieved July 7, 2021.
  25. ↑ "2001 Annual Report" (PDF). Ontario Teachers’ Pension Plan. Archived from the original (PDF) on March 13, 2020. Retrieved July 8, 2021.
  26. ↑ "Private Capital Portfolio". Ontario Teachers' Pension Plan. Archived from the original on March 3, 2021. Retrieved July 9, 2021.
  27. ↑ "BCE sells directory business for $3 billion". Canadian Broadcasting Corporation. Archived from the original on March 28, 2021. Retrieved July 9, 2021.
  28. ↑ "Yellow Pages dials up biggest income trust IPO". Canadian Broadcasting Corporation. December 4, 2003. Archived from the original on July 11, 2021. Retrieved July 9, 2021.
  29. ↑ Ebner, Dave (July 25, 2003). "Yellow Pages IPO biggest in 3 years". The Globe and Mail.
  30. 1 2 3 "Play-by-play of Ontario Teachers' Pension Plan's Investment in Maple Leaf Sports and Entertainment". Ontario Teachers’ Pension Plan. Archived from the original (PDF) on July 11, 2021. Retrieved July 11, 2021.
  31. ↑ Ozanian, Mike (May 21, 2013). "David Beckham To Earn Huge Windfall From New York's MLS Expansion". Forbes. Archived from the original on July 12, 2021. Retrieved November 23, 2013.
  32. ↑ "Soccer team Toronto FC makes its debut". Archived from the original on July 12, 2021. Retrieved July 12, 2021.
  33. 1 2 Rocha, Euan (December 9, 2011). "Toronto sports empire sold to Rogers and BCE". Reuters. Archived from the original on July 12, 2021. Retrieved July 12, 2021.
  34. 1 2 Stanley, Bruce; Santini, Laura (November 27, 2006). "How Orient Overseas Fetched Such a Rich Price for Port Assets". The Wall Street Journal. Archived from the original on July 13, 2021. Retrieved July 13, 2021.
  35. ↑ "UPDATE 1-Ontario Teachers in $2.4 bln marine terminals deal". Reuters. January 20, 2007. Archived from the original on July 13, 2021. Retrieved July 13, 2021.
  36. ↑ Stone, Mike; Roumeliotis, Greg (September 23, 2016). "Exclusive: GCT Global Container Terminals exploring options - sources". Reuters. Archived from the original on July 13, 2021. Retrieved July 13, 2021.
  37. ↑ "IFM Investors and BCI to join Ontario Teachers' as equity partners in GCT Global Container Terminals Inc". Ontario Teachers' Pension Plan. June 7, 2018. Archived from the original on July 13, 2021. Retrieved July 13, 2021.
  38. ↑ Stutts, Jordan (June 8, 2018). "OTPP sells stake in container operator to IFM and BIC". Infrastructure Investor. Archived from the original on July 13, 2021. Retrieved July 13, 2021.
  39. 1 2 3 Deveau, Scott; Carey, David (August 2, 2017). "How the World's Biggest Buyout Deal Crashed and Burned". Bloomberg. Archived from the original on February 16, 2021. Retrieved July 15, 2021.
  40. ↑ Erman, Boyd; Stewart, Sinclair; McNish, Jacquie (April 10, 2007). "Teachers, U.S. fund Providence made moves on BCE buyout". The Globe and Mail. Retrieved July 15, 2021.
  41. ↑ Dabrowski, Wojtek (April 17, 2007). "BCE in talks with KKR and pension funds". Reuters. Archived from the original on July 15, 2021. Retrieved July 15, 2021.
  42. ↑ Moritz, Scott (May 22, 2008). "BCE buyout faces a Humpty Dumpty moment". CNN. Archived from the original on July 18, 2021. Retrieved July 16, 2021.
  43. ↑ Lattman, Peter (December 11, 2008). "BCE Leveraged Buyout Deal Collapses". The Wall Street Journal. Archived from the original on July 16, 2021. Retrieved July 16, 2021.
  44. ↑ Haghani, Sascha; Heinemann, Patrick (2010). "Investor Churn". In Eilenberger, Guido; Haghani, Sascha; Kötzle, Alfred; Reding, Kurt; Spremann, Klaus (eds.). Current Challenges for Corporate Finance: A Strategic Perspective. Berlin: Springer-Verlag. pp. 107–122. ISBN 9783642041136. Archived from the original on July 16, 2021. Retrieved July 16, 2021.
  45. ↑ "TIMELINE: Key dates in the saga of the failed BCE buyout". Reuters. December 11, 2008. Archived from the original on July 15, 2021. Retrieved July 18, 2021.
  46. ↑ Wray, Richard (March 25, 2010). "Camelot sold to Canadian pension fund for £400m". The Guardian. Archived from the original on November 9, 2020. Retrieved August 4, 2021.
  47. ↑ "National Lottery owner Camelot sold to Canada teachers". BBC. March 25, 2010. Archived from the original on January 18, 2021. Retrieved August 4, 2021.
  48. ↑ "Governance". Camelot Group. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  49. ↑ "UK government sells right to operate first high speed railway" (Press release). Government of the United Kingdom. November 5, 2010. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  50. ↑ "High Speed 1 concession awarded to Canadian pension consortium". Railway Gazette International. November 5, 2010. Retrieved August 4, 2021.
  51. ↑ Wright, Robert (November 6, 2010). "£2.1bn HS1 sale lifts privatisation prospects". Financial Times. Retrieved August 4, 2021.
  52. ↑ Erman, Boyd (February 18, 2011). "Private equity buyout activity rebounds in 2010". The Globe and Mail. Retrieved August 4, 2021.
  53. ↑ "Bell buys CTV network for $1.3 billion". Toronto Star. September 10, 2010. Archived from the original on March 4, 2021. Retrieved August 4, 2021.
  54. ↑ Nickel, Roy (November 24, 2010). "Ontario Teachers' sells stake in Maple Leaf Foods". Reuters. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  55. ↑ "Teachers' celebrates opening of Asia office in Hong Kong" (Press release). Ontario Teachers’ Pension Plan. September 5, 2013. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  56. ↑ Segal, Julie (September 20, 2012). "The Oracle of Ontario". Institutional Investor. Archived from the original on June 24, 2021. Retrieved August 7, 2021.
  57. ↑ "James Leech". Queen's University. Archived from the original on July 26, 2021. Retrieved July 26, 2021.
  58. ↑ "Honouring Chancellor Leech's legacy". Queen's Gazette. June 23, 2021. Archived from the original on June 29, 2021. Retrieved July 29, 2021.
  59. ↑ "Benita Warmbold new Chair of QSB Advisory Board". Smith Magazine. Kingston, Ontario: Smith School of Business, Queen's University. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  60. ↑ "Jim Leech, C.M." Office of the Prime Minister of Canada. February 10, 2017. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  61. ↑ "Jim Leech, C.M." (PDF). University of Western Ontario. Archived from the original (PDF) on July 30, 2021. Retrieved July 30, 2021.
  62. ↑ "The MasterCard Foundation Appoints Jim Leech as Chair of the Board" (Press release). Mastercard Foundation. June 24, 2014. Archived from the original on July 30, 2021. Retrieved July 30, 2021.
  63. ↑ "Honour and Celebration". UHN Foundation. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  64. ↑ Smith, Kevin (October 1, 2018). "Some good news about our needed Health Information System journey". UHN Foundation. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  65. ↑ "Mastercard Foundation Appoints Zein M. Abdalla as Board Chair" (Press release). Mastercard Foundation. June 25, 2020. Archived from the original on July 30, 2021. Retrieved July 30, 2021.
  66. ↑ "Jim Leech, CM". Mastercard Foundation. Archived from the original on July 30, 2021. Retrieved July 30, 2021.
  67. ↑ "Our Board of Directors". UHN Foundation. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  68. ↑ "Prime Minister announces Special Advisor on the Canada Infrastructure Bank" (Press release). Office of the Prime Minister of Canada. February 10, 2017. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  69. ↑ Willis, Andrew (October 31, 2018). "Ontario Teachers' Pension Plan veterans launch Peloton private-equity fund". The Globe and Mail. Retrieved August 1, 2021.
  70. ↑ "JIM LEECH". Peloton Capital Management. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  71. ↑ "Institute for Sustainable Finance Welcomes New Advisory Board Members". Institute for Sustainable Finance, Smith School of Business, Queen's University. April 28, 2021. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  72. ↑ "Institute for Sustainable Finance launched". Queen's Gazette. November 19, 2019. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  73. ↑ "Advisory Board". Institute for Sustainable Finance, Smith School of Business, Queen's University. Archived from the original on August 1, 2021. Retrieved August 1, 2021.
  74. ↑ "Jim Leech, C.M., LL.D". Historica Canada. Archived from the original on January 22, 2021. Retrieved August 3, 2021.
  75. ↑ Leech, Jim; McNish, Jacquie (2013). The third rail: confronting our pension failures. Toronto: Signal. ISBN 9780771046636. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  76. ↑ "The Third Rail: Confronting Our Pension Failures". National Business Book Award. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  77. ↑ Beattie, Steven W. (May 26, 2014). "The Third Rail, by Jim Leech and Jacquie McNish, wins National Business Book Award". Quill & Quire. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  78. ↑ "PAST WINNERS 2013". Donner Prize. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  79. ↑ "Teachers' CEO Honoured for Commitment to Public Education" (Press release). Ontario Teachers’ Pension Plan. May 12, 2009. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
  80. ↑ "Jim Leech". Governor General of Canada. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  81. ↑ "Chancellor Leech to receive honorary degree from RMC". Queen's Gazette. October 18, 2019. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  82. ↑ "Order of Canada Appointments". Governor General of Canada. June 30, 2014. Archived from the original on September 30, 2020. Retrieved August 5, 2021.
  83. ↑ "The 2019 Appointees to the Order of Ontario". Government of Ontario. January 1, 2021. Archived from the original on January 22, 2021. Retrieved August 5, 2021.
  84. ↑ Wamai, Mark (November 6, 2020). "The Jim Leech MCF Fellowship on Entrepreneurship" (Press release). Makerere University. Archived from the original on August 3, 2021. Retrieved August 3, 2021.
  85. ↑ "Largest MBA scholarship honours Jim Leech, incoming Queen's Chancellor". Smith Magazine. Kingston, Ontario: Smith School of Business, Queen's University. Archived from the original on August 4, 2021. Retrieved August 4, 2021.
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