Featured Speakers
D. Don Ezra, Global Consulting Director, Investment Strategy, Russell Investments
Richard Bookstaber, Ph.D., Senior Policy Advisor, SEC, Author of "A Demon of our Own Design"
Scott Patterson, Author of New York Times Bestseller, The Quants, Staff Reporter, Wall Street Journal
Dr. Angelo A. Calvello, Partner, Environmental Alpha LLC

Dr William F. Shadwick, Founder & Managing Director, Omega Analysis Limited
Dr. Asani Sarkar, Research Officer, Federal Reserve Bank of New York
Richard Bookstaber, Ph.D.
Richard Bookstaber is a Wall Street insider and outspoken critic of many of today’s financial practices who predicted the current economic meltdown. He was recently named a senior advisor to the SEC.
Mr. Bookstaber recently worked at Bridgewater Associates, the world’s largest hedge fund, and before that ran the Quantitative Equity Fund at FrontPoint Partners. He was in charge of risk management at Moore Capital Management, another hedge fund with over $10 billion in assets. He served as the managing director in charge of firm-wide risk management at Salomon Brothers and was a member of Salomon's powerful Risk Management Committee. He also spent ten years at Morgan Stanley, first designing and marketing derivative instruments, then as a proprietary trader, and concluding his tenure there as Morgan Stanley's first market risk manager.
Called "one of Wall Street's rocket scientists" by The New York Times, Mr. Bookstaber is the author of A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation, a book that pinpointed the market weaknesses that spun out of control to create today’s financial crisis. A Demon of Our Own Design ranked number one on Amazon in finance and was selected as a finalist for the prestigious Loeb Award.
He was named to this year’s Conde Nast Portfolio list of top 25 technical innovators, joining the ranks of Steve Jobs, Jeff Bezos, Jeffrey Katzenberg and Eric Schmid, and he has testified in the House and Senate, calling for greater transparency and improved regulation for Wall Street long before it was fashionable.
Dr. Angelo A. Calvello
Dr. Calvello is founder of Environmental Alpha, a consulting firm that helps institutional investors develop climate change-based risk management and investment strategies. He is also the editor of Environmental Alpha: Institutional Investors and Climate Change (Wiley 2009) and the Editor-in-Chief of The Journal of Environmental Investing.
Dr. Calvello earned a Ph.D. in Contemporary European Philosophy from DePaul University and a post-doctoral certificate in business from New York University's Stern School of Business. He is on the Charter Alternative Investment Analyst (CAIA) Association Advisory Board, a member of the Chicago Climate Futures Exchange, and a member of the Chicago Quantitative Alliance.
D. Don Ezra
Don Ezra is co-chairman, global consulting for Russell Investments worldwide, and director, investment strategy for its Americas institutional division. Don was given these wide-ranging roles to reflect the focus that investors everywhere need on “big picture” issues. He provides expert insight on specific governance and financial strategy issues working with both individual clients and Russell teams serving clients, and helps to coordinate the advice of Russell consultants around the world. In addition, Don is a member of Russell’s global leadership forum. Don is located in Russell’s New York office.
Don joined Russell in 1984 as the first president of Russell’s Canadian office. In 1989, he moved to Russell’s head office in Tacoma, where he was successively managing director of consulting and managing director of Russell’s investment policy and research. He was seconded to the London office in 1997 as director of European consulting.
Before joining Russell, Don worked as a life insurance actuary in England and as a pension investment consultant in Canada, and he served as vice president of the Canadian Institute of Actuaries.
Don is a widely published author in the pension fund industry. In addition to numerous articles and papers, his books include Understanding Pension Fund Finance and Investment (1979), The Struggle for Pension Fund Wealth (1983), Pension Fund Excellence (1998) and The Retirement Plan Solution: the Reinvention of Defined Contribution (2009).
He has won a Graham and Dodd Award from the Financial Analysts Journal and the Roger Murray Prize from the Q Group in the U.S. In 2004, he was given the Lillywhite Award of the Employee Benefit Research Institute “for extraordinary life contributions to Americans’ economic security.” Don was an appointed delegate to the National Summit on Retirement Savings in both 2002 and 2006, and an at-large delegate from New York State to the White House Conference on Aging in 2006. He now serves on the Editorial Advisory Board of the Financial Analysts Journal and as Research Committee Chairman of the Employee Benefit Research Institute.
Scott Patterson
Scott Patterson is a staff reporter at The Wall Street Journal, covering the latest technological advances on Wall Street as well as Warren Buffett’s Berkshire Hathaway. His current book, THE QUANTS, is a New York Times Bestseller. He has also written for the New York Times, Rolling Stone and Mother Earth News. He has a masters of arts degree from James Madison University. He lives in New York City.
Dr. Asani Sarkar
Dr. Asani Sarkar is a Research officer at the Federal Reserve Bank of New York and a Visiting Lecturer at Princeton University. He is currently working on empirical evaluations of the Federal Reserve’s liquidity provision programs, funding liquidity and market liquidity, and asset pricing.
Dr. Sarkar has published numerous articles on the microstructure of equity, fixed income, and futures markets. His papers have appeared in, among others, the Journal of Finance, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, the Journal of Business, the Journal of Empirical Finance, the Journal of Futures Markets and the Journal of Financial Intermediation.
Dr. Sarkar received his Ph.D. from the University of Pennsylvania.
Dr William F. Shadwick
Bill Shadwick is a prominent mathematician who led the establishment of the Fields Institute for Research in Mathematical Sciences before entering the finance industry in 1998 at Dresdner Kleinwort Benson.
He was a member of the Steering Committee of the Financial Markets Group at the London School of Economics from 1998 to 2002 and was a founding member of the Steering Committee for the UK Quantitative Finance Network. He has published key contributions to finance theory and practice and has made invited presentations of his work to leading industry groups and academic centres.
Jointly with Ana Cascon, he has pioneered a fundamentally new approach to the study of probability and statistics which continues to generate powerful new tools for performance measurement, risk management and trading strategies.
In 2007 Cascon and Shadwick were the recipients of the Journalism Award of the Investment Management Consultant’s Association (IMCA) for their published research on risk and performance measurement.
Industry Experts

Gerald T. Boychuk, Chief Investments Officer for the City of Hamilton
Philip Falls, President & CEO, UBC Investment Management Trust
Dave Finstad, Independent Consultant
John H. Ilkiw, Consultant, formerly of CPPIB
Bob Kamp, Ph.D., Vice President, Investments, Telus Corporation
Julia Langer, Executive Director, Toronto Atmospheric Fund (TAF)
William W. Moriarty, President and CEO, University of Toronto Asset Management Corporation (UTAM)
Steven Price, Senior Director, Conservation Science, Policy and Planning, WWF-Canada

Dr. Marlene K. Puffer, Acting Director, Pension Investments, NAV CANADA

Gerald T. Boychuk
Gerald T. Boychuk B.Sc., MBA, CFA is the Chief Investments Officer for the City of Hamilton. Prior to joining Hamilton's staff, Mr. Boychuk was the Vice President Fixed Income at Maxxum Funds for 5 years and Vice President Fixed Income with The Prudential of America Insurance Co for 20 years. Current responsibilities include investment policy, portfolio development, and ongoing management for City funds of approximately $800 million with a turnover of approximately 4 times, Trust funds of approximately $12 million and a pension trust of $300 million. As well responsible for debt issuance and management for the City. Cash management and custodial operations.
Philip Falls
Philip Falls is the President and Chief Executive Officer of UBC Investment Management Trust Inc. UBC IMANT has investment responsibilities for approximately $2 billion of the University of British Columbia’s investment assets, including the endowment, staff pension plan, working capital, long term disability, and other associated funds.
With over 25 years of institutional investment management experience, Mr. Falls formerly served as Director, Investments of the IWA Forest Industry Pension and LTD Plans, an organization independently recognized for its superior governance practices and strong investment results. He has also held positions as Vice President, Treasurer & Investment Management (Business Restructuring) with The Loewen Group Inc., as well as senior investment management responsibilities with the CN Railways Pension Fund, William M. Mercer Limited and Connor, Clark & Lunn.
Mr. Falls currently sits on the Boards of the Association of Canadian Pension Fund Management (ACPM) and the Pension and Investment Association of Canada (PIAC).
He received his Bachelor of Commerce (Honours and double Birks Medallist) from Concordia University and a Masters of Business Administration (Finance) from the University of Western Ontario. He is a CFA Charterholder and a graduate of the Institute of Corporate Directors, Directors Education Program.
Dave Finstad
Dave Finstad is a senior investment professional with nearly 20 years investment experience. He is currently working as an independent consultant and a private investor. Previously, he was the Vice-President, Absolute Return Strategies & External Equities for Alberta Investment Management Corporation where he managed their $11 billion external manager program which included both hedge funds and long-only equity investments. Dave has an M.Sc. in Finance from the London School of Economics and is a CFA charterholder.
John H. Ilkiw
John provides strategic guidance on a spectrum of pension financing issues including plan and fund governance, objective setting, risk-return accountability, asset-liability management, investment strategies, performance evaluation and r isk-sharing. John has over 35 years of experience in the pension field acquired through his work in Canada, the United Kingdom and the United States.
From August 2005 to March 2010, John was Senior Vice President at the CPP Investment Board where he worked with the senior management team to design and implement long-horizon portfolio policies to help the Canada Pension Plan meet its obligations. This included the development and implementation of the innovative CPPIB risk-return-accountability framework with its cornerstone CPP Reference Portfolio.
John is a member of Trent University’s Pension and Endowment Investment Committee and former governor of the university. He has also been the Chair of Investment Advisory Committee to the Pension Commission of Ontario and a trustee of Ontario Teachers’ Superannuation Plan representing the Treasurer of Ontario.
John earned his BA from York University and his MA from the University of Toronto, both in economics, and is a Chartered Financial Analyst. He has written and spoken extensively on strategic issues facing defined benefit and defined contribution pension plans.
Bob Kamp
Bob Kamp heads up a group of portfolio managers, analysts and traders responsible for managing a broadly diversified portfolio of investments for the TELUS sponsored defined benefit pension plans. He serves as Chair of the Investment Committee for the University of Alberta Endowment Fund and is a member of the Pension Investment Association of Canada. Prior to joining TELUS, he managed portfolios and conducted research with Alberta Treasury and Ontario Treasury. Bob has a BA (Honours) from the University of Calgary and a Ph.D. in economics from Carleton University.
Julia Langer
Julia Langer is Executive Director of the Toronto Atmospheric Fund (TAF), an arm’s length agency of the City of Toronto created in 1991 to advance solutions to climate change and air pollution. TAF leverages its $20 million endowment to provide grants, financing and programming for effective approaches to reducing emissions.
During her 16 years at World Wildlife Fund Canada, Ms. Langer was responsible for various programs, most recently leading WWF’s climate change campaign. She established WWF’s Wildlife Toxicology program focused on reducing toxic substances including pesticides, and managed WWF’s marine/coastal conservation program in Cuba.
Ms. Langer was a Policy Advisor to former Ontario Environment Minister Jim Bradley, and holds a degree in Environmental Sciences (Toxicology) from the University of Toronto.
William W. Moriarty
William W. Moriarty, CFA is President and Chief Executive Officer of the University of Toronto Asset Management Corporation.
Prior to joining UTAM in April 2008, Mr. Moriarty was a Vice Chairman of RBC Capital Markets. Over his career at RBC, which began in 1983, Mr. Moriarty has served as: Director of Equity Research and Chair of the Investment Strategy Committee; Head of the Global Research Division; Head of the Global Equity Division; Co-Head of the Capital Markets Services Division; and Head of the Alternative Investments Division. He was also a member of the Bank’s Pension Investment Committee, and a Director of RBC Asset Management Inc. and RBC Capital Partners Limited. In addition, he has served on several community, industry and public Boards and was a founding director of IIROC and the Chair of Market Regulation Services Inc. – the SRO which regulated securities trading and market related activities of participants on Canadian Stock Exchanges and alternative trading systems. Mr. Moriarty holds a BA from the University of Toronto and an MA from the University of Chicago.
Steven Price
Steven Price has been with WWF-Canada for 27 years, and now leads the Toronto-based thematic team of conservation experts for WWF-Canada, reporting to the Chief Conservation Officer. Forests, freshwater, endangered species, marine/seafood, mining and conservation operations comprise the team’s current range of expertise. Mr. Price’s team provides support to the regional offices across Canada which focus on ‘ecoregional’ conservation. His team also pursues national policy reform and partnerships that advance WWF’s mission throughout Canada and around the world.
Mr. Price worked previously on Canadian forest and FSC projects, Latin American conservation, and endangered species protection. He has earned a zoology B.Sc. and a botany M.Sc., both from the University of Toronto.
Marlene K. Puffer
Dr. Marlene K. Puffer, founder and Managing Director of Twist Financial Corp., provides strategic advice, analytics, education, litigation support and expert witness testimony in all areas of fixed income and pension investments. She is on the Board of Trustees of the Healthcare of Ontario Pension Plan (HOOPP) and chair of the Asset/Liability Committee. She currently manages the investment portfolio of a large pension fund and is advising the Department of Finance. She has advised on the restructuring of Asset-Backed Commercial Paper and was an expert witness in the BCE vs. Bondholders legal case. Marlene’s diverse experience includes fourteen years on Bay Street in various senior roles as a fixed income portfolio manager and on the trading floor at various investment dealers. Previously, she was a professor of finance at University of Toronto’s Rotman School for five years.
Dr. Puffer is a frequent presenter and lecturer, and has authored numerous articles. She holds a Ph.D. in Finance and Applied Statistics and a M.Sc. in Business Administration from the University of Rochester, and master's and bachelor's degrees in Economics from the University of Toronto, and she is a CFA charterholder. She is currently enrolled in the Directors’ Education Program at the Institute for Corporate Directors. Dr. Puffer sits on boards and committees at the Canadian Investment Review, the Canadian Institute of Actuaries, the Toronto CFA Society, and the Faculty of Arts and Sciences at the University of Toronto. Previously, she was President of Women in Capital Markets and a member of the Audit Committee and other boards of the University of Toronto and Havergal College.
Speakers

Barry Allan, Founding Partner, Marret Asset Management Inc.
Nathanaël Benzaken, Head of Managed Account Development, Lyxor Asset Management - France
Elisabeth Bourqui, a Principal, Mercer's Investment Consulting
Gregory W, Burgess , Portfolio Manager, Newhaven Asset Management Inc.
Lionel Erdely, Head of Alternative Investments, Lyxor Asset Management
Kevin Gopaul, Vice President and CIO, BMO ETFs

Rob Jackson, Chief Risk Officer, Highstreet Asset Management Inc.

Tristram Lett, CIO and Partner, Integra Capital Management
James McGovern, Managing Director & CEO, Arrow Hedge Partners
Brad Taylor, Global Product Manager, Investment Finance, RBC Dexia Investor Services

Barry Allan
Barry Allan is the founding partner of Marret Asset Management Inc. He has over 25 years of investment experience and has successfully operated in virtually all areas of the fixed income arena.
Prior to founding Marret, Barry spent six years with Altamira Management where he managed a wide variety of fixed income mandates and held secondary responsibilities on several equity and balanced mandates. He was also responsible for internal risk management and oversaw the hedging activities for the company’s Balance Sheet.
During this period he was the lead manager of the Altamira High Yield Bond Fund, co-manager of the Balanced and Growth and Income Funds, and Lead Manager of the Global Bond and Global Short-Term Income Funds.
Barry also managed several institutional mandates with alternative investment strategies (swing funds shifting between Canadian and Global bonds, Hedge Fund being long and short Global Bonds and Currencies, Commodity Derivatives in equity portfolios, bonds with embedded options to gain convexity).
Barry has an undergraduate degree from the University of British Columbia and an MBA from the University of Arizona.
Nathanaël Benzaken
Nathanaël Benzaken joined Lyxor AM (Societe Generale's asset management company) in 2001 as head of the Long/Short Equity desk. He was promoted to MD and Head of the Hedge Fund Research and Selection department in 2005, where he was in charge of the construction and management of the managed account platform, due diligence and risk management. He was appointed Head of Managed Accounts Development in 2009.
Elisabeth Bourqui
Elisabeth Bourqui is a Principal in Mercer's Investment Consulting team in Montreal and Head of Responsible Investment Canada. She specializes in alternative solutions for pension funds as well as in responsible investment. Ms. Bourqui has over 12 years of experience in derivatives. Before joining Mercer, she was at Société Générale (New York) and her role related to the sale of structured derivatives solutions to Canadian institutional clients. Also, Dr. Bourqui worked for the fixed income products department of Société Générale (Canada) in Montreal as a financial engineer specializing in structured products. She holds a PhD in mathematics from the Swiss Federal Institute of Technology of Zurich, Switzerland; taught lectures on derivatives as a part-time faculty member of the John Molson School of Business, Concordia University; and is a member of the Swiss Society of Actuaries.
Gregory W. Burgess
Mr. Burgess is a portfolio manager for Newhaven Asset Management Inc. in Toronto, where he specializes in managing index tracking portfolios for U.S. and Canadian clients. He began his career at Goldman Sachs, and later joined Ibbotson Associates, where he consulted with institutions and investment advisors on portfolio management issues. In 1999, he formed an investment consulting firm, Burgess + Associates, and has consulted with investment banks, insurance companies, and mutual fund companies in the U.S. and Canada on various investment related matters.
Mr. Burgess has a B.A., magna cum laude, in Economics from The University of Cincinnati and an M.B.A from The University of Chicago.
Lionel Erdely
Lionel Erdely joined Lyxor Asset Management ("Lyxor AM") in 2002 as a Fund of Hedge Funds Manager, responsible for the "top-down" allocation process for Lyxor's Investment Committee. Mr. Erdely was appointed as the Head of Lyxor's Alternative Investments business in 2004 and is a member of the Lyxor Management Committee and the Executive Committee. He moved to New York in April 2009 to take additional responsibilities as CEO of Lyxor Asset Management Inc. (“Lyxor US”), Lyxor's U.S. based asset management subsidiary. Prior to joining Lyxor AM, Mr. Erdely was a Vice President in the Equity Corporate Finance department of Société Générale, where he worked on several IPOs, capital increases and convertible bond issues, mainly on the German market. Mr. Erdely holds an M.B.A. degree in Finance from ESSEC in Paris (1998).
Kevin Gopaul
In his 11 years in the industry, Kevin Gopaul has managed $6B of Cdn, US, and international equities for a large Canadian insurance company; managed a 110/10 strategy and preferred share portfolios; been an index arbitrage / program trader in Canada, and managed $7B in indexed, target dated, and derivative overlay assets for a Canadian asset manager.
Mr. Gopaul attended the University of Waterloo, studying economics with minors in computer science and finance.
Rob Jackson
As Highstreet’s Chief Risk Officer, Mr. Jackson co-leads the investment team together with the firm’s Chief Investment Officer. He has direct responsibility for the firm’s research, fixed income, balanced and alternatives strategies, including derivative overlays.
He has been with Highstreet since the firm's inception in 1998 and has played a key role in the development of the firm’s proprietary models and risk management processes. He has 14 years of investment and risk management experience and is a member of the Global Association of Risk Professionals (GARP), Professional Risk Managers International Association (PRMIA), Buyside Risk Managers Group and the Chicago Quantitative Alliance (CQA). He has presented at various forums in Canada and the U.S.
Prior to joining Highstreet, Mr. Jackson was a risk manager with a large financial institution. He earned a Master of Mathematics degree from the University of Waterloo in 1988, specializing in Statistics, and a B.A. from the University of Western Ontario in 1987 (Honours Statistics).
Tristram Lett
Tristram Lett is CIO of and a partner at Integra Capital Management. He chairs its investment policy committee and also has the specific responsibility of managing the firm’s Alpha Beta strategies.
Mr. Lett is the former Chair of the Board of Governors of the Toronto Futures Exchange. Recently he was Deputy Chair of the Alternative Investment Management Association of Canada (AIMA), the hedge fund industry association, and a member of a number of its committees. Currently he is a member of the Board of Directors of the Fields Institute for Research into the Mathematical Sciences, a member of the editorial advisory board of the Canadian Investment Review, a member of the Professional Risk Managers Industry Association (PRMIA) and the International Association of Financial Engineers (IAFE).
He has been frequently published on investment matters in industry journals and is a regular speaker at national and international conferences. He currently writes a blog on hedge fund issues for the Canadian Investment Review Online. He holds a M.Sc. (Econ.) from the London School of Economics. He is registered as Investment Counsel and Commodity Trading Manager with the OSC.
James McGovern
Mr. McGovern founded Arrow Hedge Partners in 1999 after working for over thirteen years at BPI Financial Corporation (Canada) (“BPI”), the company of which he co-founded, and where he ultimately held the positions of President and Chief Executive Officer. BPI, a publicly traded company, managed or administered over $6 billion dollars on behalf of Canadian and U.S. investors.
Mr. McGovern was the founding Chairman (currently, Past Chairman) of the Canadian Chapter of the Alternative Investment Management Association (“AIMA”). He is actively involved in the international hedge fund community and has spoken at conferences in Canada and globally.
Mr. McGovern graduated from the University of Toronto with a Bachelor of Commerce and Finance degree in 1985. He is active in several charitable organizations, including the Grand Cru Culinary Wine Festival (in support of the Toronto General and Western Hospitals) where he serves as Vice-Chair. He also serves on the Board of Trustees of the Fraser Institute, an independent Canadian economic and social research and educational organization.
Brad Taylor
Brad Taylor joined RBC Dexia in 2006 and oversees the development and delivery of portfolio financing and hedge fund services.
Mr. Taylor began his career in financial services at Nesbitt Thomson in 1990. He also held management positions with Midland Walwyn Capital and Merrill Lynch Canada until 1998 when he was appointed Vice President in the Corporate and Institutional Client Group at Merrill Lynch in New York.
In 2001, Mr. Taylor moved to London and co-founded a financial services technology company which developed quantitative software solutions for proprietary trading desks at broker-dealers. In 2003 he was named Chief Operating Officer of InvestorsAnalysis LLC, a consultancy focused on alternative portfolio management advisory services for global hedge fund and pension plan managers.
 
NIAGARA
2016

speaking faculty:

GOVERNOR RICK PERRY

Claude Lamoureux

CARY BLAKE

Dr. Michael Chui

Gail Cook-Bennett

Heather Cooke

BOBBY ENG

Bruce Grantier

Janet greenwood

Martin Grosskopf

Alex Johnson

TRACEY LUKE

Andrew McCaffery

Lawrence G. McDonald

William Mougayar

STUART PESKIN

Marlene Puffer

TOM RECORD

Arun Singhal

Roderick Snell