Canada’s second-largest pension fund said on Tuesday it had replaced the chief executive and overhauled the board of its commercial real estate lending unit, after an outside investigation found ethical failures by a handful of employees.
According to the outside investigation led by a services firm, four employees at Otera contravened their ethics codes by placing themselves in a situation of a conflict of interest, or by not declaring their positions in other companies, among other concerns.
globebusiness Looking forward to future stories about the “Marking to Myth” of public pension funds’ “private” and “alternative” asset portfolios.
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