Michael Latimer is DeGroote’s 2016 Distinguished Alumni Award recipient

Michael Latimer was the first member of his family to attend university.

With a gleam in his eye and a fresh diploma from Toronto’s Sir Wilfrid Laurier Collegiate Institute tucked into his suitcase, he departed for Hamilton in the fall of 1972 – eager to embrace the intellectual freedom and boundless opportunity of academia. Studying at McMaster provided the opportunity to create options, to open doors. As Latimer explains, he was determined to make the most of it.

In May, the OMERS President and CEO will receive the prestigious Wayne C. Fox Distinguished Alumni Award during the DeGroote School of Business’ annual Evening of Accolades. It’s a feat not lost on the decidedly humble family man.

Latimer, who earned a BA from McMaster in 1976, has spent the past four decades carving out a reputation as one of Canada’s leading investment strategists. No slouch on the world stage, he’s been recognized as one of the most globally-influential asset owners by Chief Investment Officer twice in the past four years. During his time as OMERS’ Chief Investment Officer, Latimer oversaw the strategic, operational and financial leadership of the company’s investment activities. 

In his latest role at OMERS – held since April 2014 – he is responsible for the overall leadership and performance of the enterprise including pension administration, investment activities and the execution of its strategic plan. As CEO, his focus is on ensuring OMERS’ 461,000 active and retired members have secure and sustainable defined benefit pensions.

His CV is diverse, and boasts successful stints with George Weston Limited, Canderel Limited, TrizecHahn Limited, OMERS Realty Corporation, Borealis Capital Corporation, Primaris Retail REIT and Oxford Properties. He also previously served on the boards of the Sports Celebrity Festival – Special Olympics and the Canadian Paraplegic Association.

A proud McMaster alumnus, he currently sits on the University’s Board of Governors. He lives in Toronto with his wife, Arlett Tygesen, and has two children, Brooklyn and Jack.

What does it mean to be selected as this year’s recipient of the Wayne C. Fox Distinguished Alumni Award?

It would be an understatement to say I’m very, very happy. It came out of the blue, and it wasn’t something I had even been contemplating. Sometimes in life and your career, the things you don’t expect carry a lot more meaning. I was fortunate to start my career immediately after my time at McMaster, thanks to the education I received there. When I was approached to join the Board of Governors many years later, I felt it was a great honour. This award is a continuation of that feeling.

Let’s return to the mid-1970s for a moment. What is your fondest memory of your time at McMaster?

I happened to be the first person in my family to continue on into postsecondary education, and I just enjoyed the whole experience. Those are pretty impressionable years, when you’re that age. You’re away from home, and I was living off campus, so it was a combination of studying in a great business program and the whole ambiance of being away at university. It was a very special time in my life.

What was the greatest lesson or take-away from your time on campus?

There were many lessons, but the most significant lesson was the importance of being a self-starter – you are responsible for the outcome. You start to realize that the effort you put in as a young person can lead to many achievements and successes later in life. You’re always building upon those experiences, every day.

Your career has touched both private and public sectors. Is there a specific career highlight that comes to mind?

I think the most important thing about my career isn’t necessarily any particular stop along the way. It’s that I’ve had the opportunity to actually do things I’m very passionate about, and it allowed me to work with great people and to grow on a personal level. All of those experiences add up to quite a rewarding career.

Looking back on that career, were there any challenges that seemed almost insurmountable at the time?

I happened to be residing in Calgary, Alberta in the early 1980s. That was a very interesting period. It was still very early in my career and I was experiencing a severe economic downturn in what was then truly a single-industry city. Dealing with a very difficult economic and work environment – while riding an emotional rollercoaster – taught me a lot about character, perseverance and staying the course.

You stated in The Globe and Mail that you always had an interest in being named CEO at OMERS. What attracted you to this particular role?

What I enjoy about OMERS is that our mission is very clear, very simple – to deliver secure and sustainable defined benefit pensions. We are accountable to more than 461,000 retired and active members who count on us to manage and provide for their retirement. OMERS is made up of municipal workers, social workers, firemen, police officers as well as municipal sector employers. I liked who I would be going to work for every day. I liked the idea of being responsible for every dollar that comprises this plan, and being both a steward and a custodian of that capital and the enterprise. Also, the executive team I’ve assembled around me is of the highest quality – as pension, financial and investment experts and as people – down to earth and motivated by the same goals. That team allows us to turn aspirations into reality. 

What advice would you offer to current DeGroote students or young alumni who are just beginning their careers?

You have to determine what it is you want to do. What are you passionate about? Once you have an understanding of what that might be, you should seize every opportunity, no matter where it takes you. Be flexible. Go where the opportunities are, even if they lead you outside your comfort zone. Don’t be afraid to take chances in your career, embrace the opportunities and have fun.