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OMERS announces Satish Rai’s decision to retire from OMERS in 2024, appoints Ralph Berg as Chief Investment Officer effective April 1, 2023

February 1, 2023

Toronto, February 1, 2023 – OMERS President and CEO, Blake Hutcheson today announced that Ralph Berg, Executive Vice President and Global Head of Capital Markets, will succeed Satish Rai as Chief Investment Officer, effective April 1, 2023. Mr. Rai will transition to an advisory role until his retirement from OMERS in late 2024.

“OMERS investment strategy has seen considerable benefit from having Satish Rai as our long-serving CIO. And now, we are fortunate to be in the capable hands of Ralph Berg. Ralph is a proven investor and a seasoned executive. The Board and I have the deepest confidence that he will continue to build on our strategy to grow our investment capabilities, our global reach, and our diversified high-quality portfolio,” said Mr. Hutcheson. “Ralph is a respected leader who will work together with a world-class team of dedicated investment professionals.’’

Mr. Berg has a decade of experience at OMERS in a variety of leadership roles. As Global Head of OMERS Capital Markets, he has been responsible for public market investments which currently represent just over half of OMERS net investment assets. Prior to that role, he was Executive Vice President and Global Head of OMERS Infrastructure, overseeing a portfolio of high-quality infrastructure assets that now extends across the globe.

“I am honoured to be taking on this role and look forward to working alongside the exemplary investment team at OMERS to generate long-term value which ultimately fulfills our pension promise to all of our members,” said Mr. Berg.

Mr. Rai, a highly accomplished investment professional, has been with OMERS for eight years, and in the CIO role since 2018.

“Satish has devoted his talent, leadership and expertise to building an extraordinary global investment strategy, brand, and team during his tenure at OMERS,” said Mr. Hutcheson. “We are extremely grateful for Satish’s contributions, and I look forward to his continued commitment and counsel that will benefit our members and their families over the long term.”


Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with $121 billion in net assets as at December 31, 2021. OMERS is a jointly-sponsored pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred, and retired members. OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure, and real estate.