Our Teams

UTAM’s internal teams are described below.

Investments

The Investment Team is led by the President and Chief Investment Officer. This team of eight is responsible for sourcing, evaluating, selecting, and monitoring all external investment managers. See the Manager Selection section for more information on this team’s work.

Daren M. Smith, CFA CAIA M.Sc. M.A.

President and Chief Investment Officer

Appointed as President and Chief Investment Officer of University of Toronto Asset Management (UTAM) in September 2016, Daren is responsible for all aspects of the business.

Daren joined UTAM in November 2008 and has over fifteen years of investment experience. Before his current role, he led the investment team that is responsible for all investment related manager selection, monitoring, and portfolio construction activities.

Before joining UTAM, Daren was as a partner and senior member of the investment team at Keel Capital, which managed all of the assets for a Nova Scotia-based pension plan.  Daren is a qualified actuary and spent the early part of his career in various actuarial roles at Sun Life Financial and Maritime Life.

Daren holds an undergraduate degree in Actuarial Science (B.Sc.) from the University of Western Ontario, a Master’s degree in Statistics (M.Sc.) from the University of British Columbia and a Master’s degree in Economics (M.A.) from McMaster University. He is a Fellow of the Society of Actuaries (FSA), and a Fellow of the Canadian Institute of Actuaries (FCIA). Daren holds the Chartered Financial Analyst (CFA), the Chartered Alternative Investment Analyst (CAIA), and the Financial Risk Manager (FRM) designations.

Chuck O’Reilly, CFA CAIA

Senior Portfolio Manager, Investments

Chuck joined UTAM in 2011 and plays a key role in UTAM’s investment related manager selection and monitoring activities for public and hedge fund investments in the Canadian equity, EAFE equity, EM equity, and Global Equity portfolios. Chuck is also responsible for portfolio construction and investment strategy within these portfolios.

Prior to joining UTAM, Chuck spent more than 10 years at Ontario Power Generation where he was the Director in the Fund Management group which was responsible for the allocation of the company’s pension fund and nuclear fund investments.

Chuck holds an undergraduate degree in Commerce (B. Comm.) from Queen’s University as well as the Chartered Financial Analyst (CFA) and the Chartered Alternative Investment Analyst (CAIA) designations.  

Yasir Mallick, CFA CAIA MFin

Portfolio Manager, Investments

Yasir joined UTAM in October 2015 and plays a key role in UTAM’s investment related manager selection and monitoring activities for public, private, and hedge fund investments in the US equity portfolio and private equity investments generally. Yasir is also responsible for portfolio construction and investment strategy within the US equity portfolio.  

Prior to joining UTAM, Yasir spent six years at Ontario Power Generation (OPG) where he held various positions within the Finance group.  In his last role with OPG, Yasir was responsible for providing risk oversight on the investment program, and asset allocation and risk management recommendations to OPG’s Chief Investment Officer. 

Yasir holds both a Bachelor of Commerce (B. Comm) and a Masters of Finance (MFin) degree from the University of Toronto, Rotman School of Management.  Yasir is a member of the Chartered Professional Accountants of Ontario and holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst designations.  

Leon Lu, CFA CAIA M.Sc.

Portfolio Manager, Investments

Leon joined UTAM in 2012 and plays a key role in UTAM’s investment related manager selection and monitoring activities for public, private and hedge fund investments in the Rates and Credit portfolios. Leon is also responsible for portfolio construction and investment strategy within these portfolios.  

Prior to joining UTAM, Leon spent nearly four years with HSBC Bank Canada where he progressed to Manager, Market and Traded Credit Risk responsible for risk reporting and monitoring. 

Leon holds a M.Sc. in Mathematical Finance from the University of British Columbia and a B.Sc. in Mathematical Finance from Peking University. Leon holds both Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst designations.

Risk and Research

Risk and Research is led by the Chief Risk Officer. This team of five is responsible for investment risk and research, as well as performance measurement and attribution. See the Investment Risk Management section for more information on how UTAM measures and monitors investment risk.

Doug Chau, CFA PRM CQF M.Sc. PhD

Chief Risk Officer, Head of Research

Doug joined UTAM in 2017 and is responsible for asset allocation modeling, risk management and measurement, research, and performance analysis. Doug chairs the Management Investment Risk Committee and is a member of several other internal management committees.

Previously, Doug worked for 15 years at OPTrust, where his responsibilities included developing strategic allocation models, risk factor research, internal and external portfolio evaluations, implementing performance and ALM systems and developing a set of quantitative tools to inform investment decisions.

Doug holds a PhD in Finance from the EDHEC Business School, a Master’s degree in Science with a specialisation in Finance from the University of Reading (M.Sc.), a Master’s degree in Statistics from the University of Toronto (M.Sc.), and a Bachelor’s degree in Mathematics and its Applications from the University of Toronto (B.Sc.). In addition, Doug holds the Chartered Financial Analyst (CFA), Professional Risk Manager (PRM) and Certificate in Quantitative Finance (CQF) designations.

Ivan Siew, CFA FRM MFin

Director, Risk and Research

Ivan joined UTAM in 2010 and is responsible for managing UTAM’s investment risk reporting and verification process, conducting risk impact analysis for new investments, as well as for conducting research. Ivan is a member of various internal committees which oversee the firm’s investment and investment risk activities.

Prior to joining UTAM, Ivan was Vice President, IT Applications Development at Northwater Capital Management Inc., responsible for developing the firm’s in-house portfolio management, accounting, and reporting system.

Ivan holds an undergraduate degree in Electrical and Electronic Engineering (B.Sc.) from the University of Hong Kong and a Master of Finance degree from Rotman School of Management, University of Toronto. Ivan holds the Chartered Financial Analyst (CFA) and the Financial Risk Manager (FRM) designations.

Operations

Operations is led by the Chief Operating Officer. This team of seven is responsible for Operational Due Diligence, Investment Operations, Compliance and Corporate Services.

Operational Due Diligence is the process by which operational risks of external investment managers and key service providers are assessed and managed both prior to engagement and on an ongoing basis. The scope of these reviews includes, but is not limited to: the manager’s ownership structure, sufficiently of key operational processes, regulatory and control environment, policies and procedures, service providers, and commitment to compliance. The Operational Due Diligence Team works closely with the Investment Team to reasonably ensure that investments are only made with external managers who have sufficiently sound operational processes and controls.

Investment Operations includes managing the execution of investment transactions, paying authorized portfolio fees and expenses, as well as ensuring that the official books and records for Pension, Endowment, and EFIP are accurately maintained by the University-appointed custodian. This team works closely with all investment and risk functions as well as staff of the custodian and the University’s Financial Services Department.

Corporate Services includes the management and operations of UTAM as a business, encompassing the areas of Finance, Human Resources, Information Technology, etc. Corporate Services works with all groups within UTAM, various departments of the University, and with key external service providers.

Lisa Becker, FCA (ICAEW)

Chief Operating Officer and Chief Compliance Officer

Lisa joined UTAM in 2010 and is responsible for corporate operations including finance, human resources, and compliance, and for investment operations and operational due diligence. Lisa is also UTAM’s designated Privacy Officer, holds other designated regulatory roles, and is a member of the University of Toronto’s Responsible Investing Committee. Lisa is an active member of the Portfolio Management Association of Canada and the National Society of Compliance Professionals.

Previously, Lisa provided compliance consulting and project management services to institutional investment advisory and portfolio management firms and has over seventeen years of experience in regulatory compliance.  Lisa has prior experience in financial accounting roles, insolvency, and audit in both Canada and the UK.

Lisa is a Fellow of the Institute of Chartered Accountants in England & Wales and has an undergraduate degree in Accounting (B.A. Hons) from the University of Kent.