Investment Staff
Investment Staff
Graeme Hay, CPA, CMA, CFA
Chief Investment Officer
204-975-3655
Graeme Hay leads all aspects of TRAF’s investment program, including investment strategy, manager selection and monitoring and investment risk management.
Prior to joining TRAF in 2013, he was a member of the investment team of Wellington West Asset Management, the internal portfolio management unit of one of Canada’s largest independent brokerages. In this role, he carried out fundamental research for the firm’s equity portfolios and led the firm’s research effort on external investment managers.
Graeme is a Certified Management Accountant (CMA), having earned the Robert Syme Memorial Silver Medal, and is a Chartered Financial Analyst (CFA) charterholder.
He is the Past Chair of the Pension Investment Association of Canada (PIAC), and a past president of the CFA Society of Winnipeg. He also serves on the Investment Committees of the Manitoba Museum Pension Trust Fund, United Way Winnipeg and the University of Manitoba’s endowment.
Russell Olivson, CFA
Portfolio Manager
204-594-4278
Russell Olivson is responsible for the long-term strategy and implementation of TRAF’s real estate and real estate debt portfolios.
Prior to joining TRAF, he was a Director of Investments and Analysis for Longboat Development Corporation, a Winnipeg-based real estate development firm. Russell played a key role in the development of several office, retail and residential projects, as well as overseeing a portfolio of stabilized assets within the city of Winnipeg.
Russell holds a Bachelor of Commerce degree from the Asper School of Business at the University of Manitoba and is a Chartered Financial Analyst (CFA) charterholder.
Russell currently serves as a director of the Jewish Foundation of Manitoba and as a member of its Investment Committee. He also serves as a director of Manitoba Possible and is the Chair of its Finance and Audit Committee.
Michael Kurtas, CFA, CAIA
Portfolio Manager
204-975-4577
Michael Kurtas participates in all aspects of TRAF’s private market activities, including the evaluation and monitoring of fund commitments and other investments for the private equity, private debt and infrastructure asset class mandates.
Prior to joining TRAF, Michael was a Manager, Commercial Banking at CIBC where he was responsible for a diversified book of client accounts. In this role, he carried out transaction sourcing, diligence and execution functions.
Michael has a Bachelor of Business Administration (BBA) from the University of Winnipeg and a Master of Business Administration (MBA) from the University of Manitoba where he was awarded the T.A. and A.S. Anderson Gold Medal (for completion of the Asper MBA Program with highest standing among all graduates). Michael is a Chartered Financial Analyst (CFA) charterholder and a Chartered Alternative Investment Analyst (CAIA) charterholder.
He currently serves on the Member Services Committee of the Pension Investment Association of Canada (PIAC), the Investment Subcommittee of the University of Manitoba Pension Plan and the Investment Committee of the Workers Compensation Board of Manitoba.
Brett Tessler, CFA
Portfolio Manager
204-975-4582
Brett Tessler participates in all aspects of TRAF’s public equity investment activities, including long-term strategy and the evaluation and monitoring of external investment managers.
Prior to joining TRAF, Brett was a Corporate Finance Analyst at Investors Group. In this role, he was responsible for and supported analytical activities related to the firm’s pension plan, corporate investments and M&A activity.
Brett has a Bachelor of Commerce (Honours) degree from the Asper School of Business at the University of Manitoba, majoring in Finance and Entrepreneurship and is a Chartered Financial Analyst (CFA) charterholder.
He currently serves on the Public Equity Markets Working Group of the Pension Investment Association of Canada (PIAC), the Investment Committee of the Jewish Federation of Greater Vancouver and the Investment Committee of the Jewish Foundation of Manitoba.
Dylan Allary, CFA
Senior Investment Analyst
204-975-3671
Dylan Allary participates in all aspects of TRAF’s public fixed income and private debt investment activities.
Prior to joining TRAF, Dylan was Senior Analyst, Global Asset Liability Management (ALM) at Canada Life. In this role, he was responsible for quantifying and monitoring balance sheet provisions and ALM risks. Before this, Dylan was Manager, Corporate Treasury Performance Management at RBC, where he covered securitization funding costs and foreign subsidiary results.
Dylan has a Bachelor of Commerce (Honours) degree from the Asper School of Business at the University of Manitoba, majoring in Actuarial Math and Finance and is a Chartered Financial Analyst (CFA) charterholder.
Jai Singh Matharoo, CFA, MSc, MBA
Investment Analyst
204-975-3661
Jai Singh Matharoo participates in all aspects of TRAF’s investment activities and is responsible for monitoring, analyzing and reporting on TRAF’s public equity portfolio.
Prior to joining TRAF, Jai was Associate Manager at Anand Rathi Private Wealth, one of the leading wealth management firms in India. In this role, Jai was responsible for structuring long-term investment strategies.
Jai has a Bachelor of Business Management degree from University of Mumbai, a Master of Science degree specializing in finance and investments from University of Exeter and a Master of Business Administration (MBA) from the Asper School of Business at the University of Manitoba.
Jai is a Chartered Financial Analyst (CFA) charterholder.
Reese Gelley, CFA
Investment Analyst
204-975-3672
Reese Gelley participates in all aspects of TRAF’s private equity and infrastructure portfolios, including the selection and monitoring of external investment managers.
Prior to joining TRAF, Reese worked in corporate development at HyLife, a Manitoba-based pork producer. In this role, he was responsible for the company’s corporate investments and M&A activity. In addition, Reese was also an analyst at KPMG Corporate Finance, where he was responsible for providing mid-market investment banking services to public and private companies in North America.
Reese has a Bachelor of Commerce (Honours) in Actuarial Mathematics from the Asper School of Business at the University of Manitoba and is a Chartered Financial Analyst (CFA) charterholder.
Kaely Zettel, B.A., LL.B
General Counsel & Corporate Secretary
204-975-3666
Kaely Zettel is responsible for the plan’s legal affairs including the review and negotiation of investment agreements and advising on legal issues arising in the course of administering the plan. She works closely with the Investment department and participates in all meetings of the Internal Investment Committee. Kaely has responsibility for the review and negotiation of all legal documentation related to our investment activities.
Kaely joined TRAF in 2018. She began her career at Pitblado Law where she practiced corporate-commercial law, advising clients on the purchase and sale of businesses and commercial real estate matters. In 2011, Kaely joined Richardson International Limited as Corporate Counsel, providing legal advice on all aspects of Richardson’s agri-business operations.
Kaely holds a Bachelor of Arts and a Bachelor of Laws from the University of Manitoba and is a member of the Canadian Bar Association and the Manitoba Bar Association.
She currently serves on the Complaints Investigations Committee for the Chartered Professional Accountants of Manitoba.
Jeremy Tataryn, CPA, CA, CFA
Vice President, Finance
204-560-2340
Jeremy Tataryn is responsible for all aspects of TRAF’s finance activities including financial reporting, treasury, tax, investment back-office and financial controls for the entity.
Prior to joining TRAF in 2019, he was the Director of Finance at New Flyer Group, an international, publicly traded manufacturing firm based in Winnipeg. He also previously held positions with Ernst & Young and The Great-West Life Assurance Company. In these roles, Jeremy had responsibilities related to external reporting, performance analysis, currency hedging, designing and implementing internal controls, transaction due diligence, risk, assurance and corporate restructuring.
Jeremy is a Chartered Professional Accountant (CPA, CA) and Chartered Financial Analyst (CFA) charterholder. He is also a past chair of the Manitoba Chapter of the Multiple Sclerosis Society of Canada.
