Three senior leaders at the CAAT Pension Plan resigned abruptly, leaving the $23.3-billion fund to navigate a sudden leadership transition. The departures include chief investment officer Asif Haque, chief financial officer Mike Dawson, and chief pension officer Evan Howard. The fund’s CEO, Derek Dobson, called it a strategic realignment for the executive team.

CAAT, founded in 1967 for Ontario’s community colleges, now serves over 750 employers and 120,000 members. The fund’s spokesperson stressed the exits do not signal fiscal instability. The departing executives held decades of collective experience; Haque alone had been with CAAT for nearly 16 years. The abrupt nature of the departures is notable for a fund of this size.

To fill the void, CAAT promoted 17-year veteran Kevin Fahey to chief investment officer and appointed former trustee Scott Blakey as interim executive vice-president. For investors and stakeholders, the key question is whether this reshuffle will maintain the fund’s investment performance. Watch for CAAT’s next quarterly report to see if the new team stabilizes operations.