Ontario Teachers Promotes Bruce Crane to Head of Asia Pacific

Canada’s third-largest public pension plan has chosen a new leader for its operations in Asia Pacific, with Bruce Crane taking the helm of the Ontario Teachers’ Pension Plan’s business in the region, according to an announcement this week.

Crane, who is based in Singapore and now carries the titles of executive managing director and head of Asia Pacific, is taking a step up after having joined Ontario Teachers in 2020 to head its infrastructure and natural resources portfolio in the region.

In his new role, Crane will report to Ontario Teachers’ chief investment officer Ziad Hindo and will lead investment activities and portfolio management in the region across the institution’s offices in Hong Kong, Mumbai and Singapore, where it currently employs more than 85 team members.

“As head of APAC, Bruce will play a leading role as we continue to progress our global growth strategy and deepen our investment activities across the region,” said Hindo. “He has done an outstanding job over the last three years building our INR portfolio and team in the region.”

Ontario Veteran

Hindo also praised Crane’s global experience and knowledge of the APAC region, with the industry veteran having spent nearly ten years at OMERS Infrastructure, including a stint leading the Asia investment team for the unit of the Ontario Muncipal Employees Retirement System, before joining Ontario Teachers.

Before moving to Asia, Crane worked in New York overseeing infrastructure investments and also has experience working with UBS and Morgan Stanley in the US.

Globally, Ontario Teachers’ had net assets of C$247.2 billion ($186 billion) as of 31 December, 2022 on invests in public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth across more than 50 countries, according to a statement.

Singapore Shift

In a message on LinkedIn today, Ontario Teachers’ outgoing regional boss, Ben Chan, wished his successor well as he embarked on what he called a “half-time break.”

“I am looking forward to finally take a proper break after a long 35 year career,” Chan said. “There is never perfect timing but it feels right having grown OTPP’s APAC AUM 4x in last five years, and fully developed team capabilities from one to four asset classes. The OTPP Brand is strong and distinct and no longer just ‘one of the Canadians’.”

With Hong Kong-based Chan handing over the controls to Crane in Singapore after five years leading the regional team, Ontario Teachers’ leadership succession may also shift the centre of gravity for another of North America’s largest pension funds.

Crane was OTPP’s first team member based in Singapore when he joined in 2020, with public records showing 10 senior executives from the institution now working in the city.

Previously, Canada’s second-largest public pension plan, Caisse de dépôt et placement du Québec, had shifted its APAC leadership to Singapore, while Canada’s biggest public pension manager CPPIB, continues to use Hong Kong as its primary hub in the region.