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The inaugural chair of the University Pension Plan Ontario (UPP) says the new pension fund will work to boost investment performance, improve risk management and safeguard the retirement security of current and former employees at Ontario universities, .

Gale Rubenstein, a partner at Toronto law firm Goodmans LLP and an expert in corporate restructuring, negotiation and pension matters, was tapped as the first employee of the UPP, which will initially oversee $10 billion on behalf of the University of Toronto, Queen’s University and the University of Guelph.

“I’ve always respected the importance of defined benefit plans, and I welcome the opportunity to help build a new structure that is sustainable,” said Rubenstein, who added she’s working to recruit the rest of Ontario’s universities to join the initiative.

Angela Hildyard, special adviser to the president and provost at ����ֱ�� and a professor at the Ontario Institute for Studies in Education, said Rubenstein was entrusted with the responsibility because she “understands how to execute organizational change with a respectful, consensus-building approach.”

Details on the UPP’s board of trustees and sponsor committees .