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The C$4.7B York University has appointed Arijit Banik as chief investment officer, effective this May — a role he takes on in addition to his current duties as the institution’s treasurer.
Banik joined the Toronto, Ont-based university in 2018 as treasurer, where his duties include overseeing the York’s C$776M endowment fund. In his new role, he will also oversee its defined-benefit and defined-contribution pension funds.
Prior to joining the university, Banik spent more than a decade at the Royal Bank of Canada, including serving as senior manager in RBC’s Corporate Treasury Pension Investments and Asset Liability Management group. In that role, he was responsible for pension investment advisory services for RBC’s global DB and DC pension plans.
He also served as senior manager of economics, pension and hedging at RBC Dexia’s treasury desk, where he was responsible for foreign exchange management, forecasting and economic analyses. His responsibilities also included pension investment review and risk management, foreign exchange hedging related to the trust company’s balance sheet and gap profiling for regulatory submissions to domestic and international regulators.
Banik’s promotion comes as Leona Fields, director of York University’s pension funds, announced her retirement in a post on LinkedIn. During her nearly three decades at the university, Fields helped grow the pension fund from C$700M to nearly C$4B.
