Longtime senior industry executive Daniel Fournier has been named to succeed Michael Turner as the president of Oxford Properties Group, when Turner vacates the role he has held for the past five years on April 1.
The announcement was made late Wednesday morning by OMERS – Oxford is the pension plan’s real estate arm, overseeing more than $82 billion worth of global assets.
“For over 13 years, five as president, Michael has dedicated himself to our outstanding global real estate success story,” said Blake Hutcheson, president and chief executive officer of OMERS, in the announcement.
“He and his team of extraordinarily talented people have overseen an important period of growth for Oxford, diversifying our business, building capabilities and expanding into new markets and sectors.
“I sincerely thank Michael for his commitment to Oxford and to OMERS members.”
Turner will remain involved with Oxford, focusing on its U.S.-specific strategies.
In a statement sent to RENX, Oxford offered praise for Turner’s years as its president.
“Under Michael’s leadership, Oxford has diversified its global real estate portfolio, entered new markets and sectors, and added new capabilities through the acquisition of multiple real estate businesses,” the statement says.
“We thank Michael for his commitment and passion to Oxford for more than a decade, and are grateful for his continued assistance across a number of U.S.-specific strategies.”
Fournier an industry veteran
Fournier is an experienced and well-known real estate leader with over 40 years of experience in the industry. From 2010 to 2019, he served as chairman and chief executive officer of Ivanhoé Cambridge, a Canadian-based global real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ).
“We are delighted to welcome Daniel Fournier to the Oxford team. Mr. Fournier’s extensive experience, track record of success and in-depth knowledge of global real estate investing will be an invaluable asset to Oxford as we enter this next phase of growth across the globe,” Hutcheson said in the announcement.
During Fournier’s tenure at Ivanhoé Cambridge, it grew into one of the world’s largest and institutional investors.
Since his retirement, Fournier has served on several boards and advisory boards of Quebec-based companies including Claridge, Groupe Maurice, Simons and BTB REIT.
“It is truly an honour and a privilege to join such an outstanding organization which I have always admired for its purpose-driven approach and world-class talent,” Fournier said in the announcement.
"I look forward to working with the team at Oxford as we continue to grow their iconic portfolio of assets and platforms around the world.”
Prior to joining Ivanhoé Cambridge, he was the chair of engineering consulting firm Genivar, now WSP Global, and a member of the board of national retailer Canadian Tire.
He was also a director of the Summit Industrial Income REIT and of Standard Life (Canada), now Manulife.
He has also actively supported numerous communities and organizations, including as chair of several fundraising campaigns for La Maison du Père, the Lighthouse Children and Families and the Institute for Research in Immunology and Cancer (IRIC).
He also co-chaired the $43-million Leading the Way fundraising campaign for Bishop's University in Montreal. Most recently, he was chair of the McCord Museum Foundation in Montreal and in August 2020 he was named Chancellor of Bishop’s University.
Fournier holds a bachelor of arts in history from Princeton University and a bachelor of arts in jurisprudence from Oxford University (1980), where he studied as a Rhodes Scholar.
He also had a stint as a professional football player with the CFL’s Ottawa Rough Riders.
About Oxford, OMERS
Oxford Properties Group is a global real estate investor, asset manager and business builder.
Established in 1960, Oxford and its portfolio companies manage approximately $82 billion Cdn worth of assets across four continents on behalf of their investment partners.
Oxford’s owned portfolio encompasses office, logistics, retail, multiresidential, life sciences, hotels and credit in global gateway cities and high-growth hubs. It invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum.
Together with its portfolio companies, Oxford is one of the world’s most active developers with over 100 projects currently underway globally across all major asset classes.
Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with $121 billion in net assets as of Dec. 31.
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.
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.
OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe originating and managing a diversified portfolio of investments in public markets, private equity, infrastructure and real estate.