(Bloomberg) -- Ontario Municipal Employees Retirement System named Michael Latimer chief executive officer of the sixth-largest pension manager in Canada, replacing Michael Nobrega who retires next year.

Latimer, who has been chief investment officer at the Toronto-based fund for more than three years, will take over from April 1, 2014, according to a statement today.

“Michael Nobrega has had a tremendous impact on Omers while playing a highly influential role in shaping the pension landscape in Canada,” George Cooke, chairman of the Omers Administration Corp. board, said in the statement.

Nobrega, CEO since 2007, oversaw the opening of offices in Calgary, London, and New York and raised the percentage of assets managed internally to almost 90% from 70 percent, according to the statement.

The pension manager has about C$60.8 billion ($57.1 billion) under management and serves about 430,000 members.

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