CAAT Pension Plan Names OPTrust's Peter Lindley as CEO
CAAT Pension Plan has appointed Peter Lindley as chief executive officer and plan manager, installing a new leader after a year of turmoil that led to the departure of most of the plan’s executive team.
Mr. Lindley is stepping down from another pension plan, OPTrust, where he has been CEO since 2019. He starts at CAAT on Jan. 6.
CAAT’s leadership ranks have been in a state of flux for most of the year after failures in the plan’s oversight spurred an abrupt overhaul. Those issues included a $1.6-million vacation payout to previous CEO Derek Dobson, as well as a relationship he was having with a CAAT employee.
CAAT is a multiemployer pension plan with $25.4-billion in assets that serves Ontario’s colleges and about 850 public- and private-sector employers with more than 130,000 members. The Globe and Mail has been a participating employer since 2022.
In July, after a third-party review of the plan’s governance, CAAT told members it was making “enhancements” to its governance procedures to improve oversight of executive compensation, workplace relationships and succession planning.
CAAT board chair Janet Greenwood praised Mr. Lindley’s “depth of leadership, experience and perspective” in a statement.
“The board is confident Peter will keep members’ interests at the centre of the plan’s work, strengthen our partnerships with participating employers and continue to focus on the stability and strength of the plan,” she said.
Mr. Lindley was not available for an interview on Tuesday, but said in a statement that CAAT “has done remarkable work expanding access to defined benefit pensions, and I’m drawn to the plan’s strong culture.”
OPTrust has appointed its chief risk officer, Dani Goraichy, as its interim president and CEO, effective immediately, and has launched a process to find a permanent CEO, the plan said in a news release.
Mr. Dobson left the plan in March as part of a settlement that required him to repay $1.6-million in vacation pay that became a central concern about the plan’s oversight.
Mr. Dobson was the plan’s CEO for nearly 17 years and oversaw a period of rapid expansion.
Since then, chief investment officer Kevin Fahey has led the plan as interim CEO, with a revamped executive team. He will stay on as CIO, and Ms. Greenwood said he created “a strong bridge to permanent leadership.”
CAAT’s board initially stood by Mr. Dobson when multiple top executives sent a letter to trustees late last year that urged them to investigate Mr. Dobson’s conduct. Three of those executives subsequently left the plan in January, setting a governance crisis in motion.
CAAT’s previous board chair, Don Smith, was then ousted in February and vice-chair Kareen Stangherlin resigned.
The search process to choose the plan’s permanent CEO formally started in June and was led by leadership advisory firm Egon Zehnder.
Layan Odeh of Bloomberg also reports CAAT Pension appoints OPTrust’s Peter Lindley as new CEO:
CAAT Pension Plan hired OPTrust’s Peter Lindley as its new chief executive officer, turning the page on a period of internal turmoil triggered by the ousting of the firm’s former head earlier this year.
“The board is confident Peter will keep members’ interests at the center of the plan’s work, strengthen our partnerships with participating employers and continue to focus on the stability and strength of the plan,” CAAT Board of Trustees Chair Janet Greenwood said in a statement Tuesday. He starts Jan. 6.
Lindley has led OPTrust since 2019. Prior to that, he spent more than 13 years at State Street Global Advisors, according to his LinkedIn profile. Lindley takes over from Chief Investment Officer Kevin Fahey, who held the CEO role on an acting basis. Earlier this year, CAAT’s board of trustees launched an independent review after a controversial payment to then-CEO Derek Dobson raised broader concerns about governance, board oversight and workplace conduct.
Dobson exited the fund in March. He had been placed on leave after he received C$1.6 million ($1.1 million) for unused vacation time. Three of the pension plan’s senior executives had approached the board in the months prior with concerns over that payout and a relationship between Dobson and another CAAT employee.
The review was completed in July, and an action plan is underway.
The CAAT pension was originally created to support the Ontario college system and now serves more than 850 employers in 20 industries.
Today, the CAAT Pension Plan appointed Peter Lindley as its new CEO:
- Peter Lindley brings the depth of leadership, experience and perspective that will ensure CAAT’s continued success for its members.
TORONTO, October 27, 2026 – The Board of Trustees of the CAAT Pension Plan (“CAAT” or “the Plan”) today announced the appointment of Peter Lindley as Chief Executive Officer and Plan Manager, effective January 6, 2027.
Mr. Lindley joins the Plan from OPTrust, where he has served as President and Chief Executive Officer since 2019. The appointment follows the Board’s formal search, launched in June 2026.
“Peter brings the depth of leadership, experience and perspective that will ensure CAAT’s continued success for its members,” says CAAT Board of Trustees Chair Janet Greenwood. “The Board is confident Peter will keep members’ interests at the centre of the Plan’s work, strengthen our partnerships with participating employers and continue to focus on the stability and strength of the Plan.”
Mr. Lindley will join CAAT as it prepares to enter its 60th year of operations. The Plan serves more than 130,000 members and more than 850 participating employers across 20 industries. On January 1, 2026, CAAT was 124% funded on a going-concern basis.
“I’m truly excited to be joining CAAT,” says Mr. Lindley. “The organization has done remarkable work expanding access to defined benefit pensions, and I’m drawn to the Plan’s strong culture and the people behind its purpose. I look forward to working together to deliver on the Plan’s promise and support the organization’s sustainable growth for the long term.”
The Board also thanks Acting CEO and Plan Manager Kevin Fahey for providing steady leadership during a period of significant change. Mr. Fahey will remain the Plan’s Chief Investment Officer.
“The Board is grateful to Kevin and his leadership team for their commitment to CAAT, and the important role they have played in creating a strong bridge to permanent leadership,” says Ms. Greenwood. “We also want to express our gratitude to CAAT employees and the Plan’s many stakeholders during this leadership transition. The Plan is stable, strong and well-positioned to live up to its pension promise.”
About CAAT
Established in 1967, the CAAT Pension Plan is an independent, jointly governed plan that offers modern defined benefit pensions. Originally created to support the Ontario college system, the CAAT Plan now serves more than 850 participating employers in 20 industries, including the for-profit, non-profit and broader public sectors. It has more than 130,000 members. The CAAT Plan is respected for its pension and investment management expertise and its focus on stability and benefit security. On January 1, 2026, the Plan was 124% funded on a going-concern basis.
Learn more at www.caatpension.ca
For its part, OPTrust's Board of Trustees released this statement on its leadership transition:
TORONTO, October 27, 2026 — “Effective immediately, Peter Lindley will step down as OPTrust’s President and CEO to pursue another professional opportunity. On behalf of the entire organization, the OPTrust Board of Trustees extends its sincere gratitude to Peter for more than seven years of leadership and service to OPTrust and its members and wishes him well in his next endeavour.
In accordance with OPTrust’s established plan, the Board has appointed Dani Goraichy as Interim President and CEO of OPTrust, effective immediately. Dani has been with OPTrust for 16 years and currently serves as Chief Risk Officer and Senior Vice-President, Actuarial Services and Plan Policy. During his tenure, he has held senior leadership responsibilities spanning actuarial services, plan policy, investment risk and enterprise risk. Prior to joining OPTrust, Dani spent more than a decade as a consulting actuary serving public and private sector pension plans.
With Dani’s deep experience and years of service at OPTrust, our members will continue to be well served by experienced trusted leadership throughout this transition. The Board will commence the process to identify OPTrust’s next permanent President and CEO and will provide further updates as appropriate.
As always, OPTrust remains firmly focused on its mission of paying pensions today, preserving pensions for tomorrow.”
About OPTrust
With net assets of over $27 billion, OPTrust invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan (including OPTrust Select), a defined benefit plan with 118,000 members. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU/SEFPO and five by the Government of Ontario.
Alright, big news from CAAT Pension Plan.
Let me begin by stating Peter Lindley is an outstanding choice to head up CAAT Pension Plan, especially at this time. I want to congratulate him and also congratulate CAAT's board of directors for selecting him.
To be honest, I was a bit surprised when I first learned it was Peter Lindley because I didn't think he'd move over from OPTrust, but it makes perfect sense on so many levels.
The two organizations are both focused on members, offering defined-benefit solutions to new members. They are similar in size and expertise, so it just makes perfect sense to have someone with his experience move over to CAAT Pension Plan to take over the helm.
Peter will introduce stability at CAAT Pension Plan and continue to build on the organization's great culture and focus on members.
He knows exactly what's expected of him, and come the new year, I believe all of CAAT's employees and members will breathe a collective sigh of relief.
I've spoken to Peter a few times and like him on a personal level. He's a solid CEO who cares about culture and treats people fairly. He's a strong believer in diversity, equity and inclusion, and his values align perfectly with those at CAAT Pension Plan.
I know some people will say "he's too old," to which I'll respond "bullocks!" and keep coming back to my initial statement: he's an outstanding leader, and this is not a time to fool around with someone inexperienced, so the board made a very wise decision appointing him as CEO.
As far as OPTrust, Peter led that organization extremely well, and their board of directors also made a wise decision, wasting no time in naming Dani Goraichy as OPTrust’s Interim President and CEO (see his bio here).
I've spoken with Dani in the past; he's a top actuary and extremely bright and nice.
He has what it takes to lead this organization, and I wouldn't be surprised if he's eventually named a permanent leader (he's as solid as you get in the pension world).
All this to say, CAAT Pension Plan and OPTrust are in good hands, with two outstanding leaders who know each other very well.
Don't be surprised if these two organizations work more closely on some initiatives in the future, especially when it comes to offering better DB solutions to existing and new members.
As for Kevin Fahey, he stepped up to the plate and can now go back to focusing on his CIO role at CAAT Pension Plan.
Peter will take a well-deserved break before assuming this new leadership role in January.
That's all from me, lots to cover this week, but this is a big announcement that takes precedence.
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