Mihail Garchev Email & Phone Number

Victoria, British Columbia, Canada

- Pioneered an outcome-oriented Total Fund Management (TFM) framework, process, and capability for coherent top-down management of rebalancing, liquidity, leverage, balance sheet, FX, strategic tilting, and risk mitigation- Introduced an integrated TFM platform and engine for CIO decision-making via a strategic partnership, product development, and seed capital to enable cross-asset, macroeconomic cycle, liquidity, sentiment, valuation analysis, and portfolio diagnostic across 400 markets- Developed, implemented and managed a cross-asset active rebalancing portfolio (~$24B annual turnover)- Developed framework and process for Strategic Tilting and Risk Mitigation portfolio solutions as part of TFM

Canada

- Non-profit professional educational initiative - Published a nine-episode (13+ hrs) series with the publisher of the Pension Pulse- A 700-page book outline developed to complement the seriesOUR MISSION: Further advance the Canadian Pension Model for efficient and effective management of client portfolios by developing integrated Total Fund Portfolio Management approachesKEY OBJECTIVES:- Provide thought leadership- Pension Executives educational series- Invite experts on topics related to developing an integrated Total Fund Portfolio Management framework, process, and implementation capability- Position papers, presentations, and research findings- Connect like-minded professionals- Facilitate discussions and meetings on common topics of interest GROUP MEMBERSHIP: Senior pension fund professionals and executives directly responsible for Total Fund Portfolio Management; Chief Investment Officers, Chief Executive Officers

Victoria, British Columbia, Canada

• Pioneered an outcome-oriented Total Fund Management (TFM) framework, process, and capability• Introduced an integrated TFM platform and engine for CIO decision-making via a strategic partnership, product development, and seed capital to enable cross-asset, macroeconomic cycle, liquidity, sentiment, valuation analysis, and portfolio diagnostic across 400 markets• Developed, implemented, and managed a cross-asset active rebalancing portfolio (~$24B annual turnover)• Developed framework and process for Strategic Tilting and Risk Mitigation portfolio solutions as part of TFM

Victoria, British Columbia, Canada

• Implemented comprehensive risk-adjusted asset class and total fund performance evaluation• Achieved organizational and client buy-in; developed supporting corporate governance (process, policy, and committee oversight)• Hired and developed a high-performing and motivated team and built new function from the ground up

Montreal, Quebec, Canada

• Developed and managed the Total Fund rebalancing portfolio (~$12B annual turnover)• Created a total portfolio management framework and the new CIO portfolio (“Complementary Portfolio”) process• Researched and built a factor investing (smart beta) internal pilot project• Established initial framework for thematic investing to support the launch of the activity

Montreal, Quebec, Canada

• Developed AI-based Systematic Risk Regime Map in collaboration with researchers from ECB and Bank of Finland and presented to the Bank of Canada• Presented Eurozone break-up scenarios; oil prices impact on real estate; leverage allocation for private assets to assist CIO and asset class decision-making• Directed research projects on economic regimes and allocation, market turbulence, early-warning systems, tail-risk hedging, and dynamic currency hedging• Implemented a fundamental, industry and macro-based private asset factor decomposition for real estate, infrastructure, and natural resources ($30B of AUM)• Created interactive real estate portfolio management platform incorporating risk analysis, factor exposures, valuation, and scenario analysis• Developed innovative Cost of Capital benchmarking framework and governance for private asset classes• Introduced new Internal Rating risk measurement framework for private assets to replace the traditional Value-At-Risk approach• Successfully managed an Auditor General of Canada audit process on benchmarking and performance evaluation measures of success• Developed PSP Investments’ two consecutive 3-year strategic plans • Awarded special grants for outstanding achievements

Montreal, Quebec, Canada

• Developed the AAS&R Business Plan• Created a structured policy portfolio monitoring process, dashboard, and monthly report• Recommended for approval by the board of directors rebalancing and currency hedging policies• Produced long-term capital market assumptions methodology, process, and annual publication• Conducted thematic portfolio research (food, demography, innovation)• Led pre-2000 liability business case for the Government of Canada (management of contributions over $100B transferred to PSP Investments)• Awarded special grant for outstanding achievements

Montreal, Quebec, Canada

• Managed and monitored the policy portfolio• Introduced a monthly “State of the World” report to monitor global financial, economic, and geopolitical impacts• Proactively identified the threat of a global economic crisis and key market participants affected in 2006, 18 months ahead of the Lehman Brothers collapse• Presented recommendations to management and board of directors for proper hedging actions

Montreal, Quebec, Canada

• Researched and recommended public and private asset classes to be included in policy portfolio, as well as capital market assumptions and benchmarks• Partnered with the Office of the Chief Actuary of Canada to define pension liabilities profile and integrate them into the optimization process

Montreal, Quebec, Canada

• Research on investment strategies, threats, and opportunities (income trust divestment; put option selling program)• Recommended divestment from income trusts in the TSX (avoided a $250M loss in the subsequent 30% decline of the TSX index six months later)

Sofia City, Bulgaria

• Responsible for treasury operations; primary auctions with the Central Bank (T-Bills, T-Notes, FRN) and the interbank repo market• Responsible for equity, fixed income and derivatives operations (Frankfurt/Xetra, London, Paris, NYSE, NASDAQ, Eurobond/Brady bond market)• Introduced a depository receipt program on Deutsche Bank, Deutsche Telekom, and SAP stock trading at the Bulgarian Stock Exchange• Investment committee member for the management of three pension funds’ and three insurance companies’ portfolios

Sofia City, Bulgaria

• Trading on the Bulgarian Stock Exchange; clearing and settlement operations• Member of the management team of a private equity fund (privatization fund “Orel-Invest” Ltd.). Acquired 38 companies/successfully exited 35

Sofia City, Bulgaria

• Sales of government and corporate bonds, savings bonds, GICs• Order processing, data entry, and monthly portfolio statements

Master’S Degree In International Economics/International Economic Relations, Department Of Economics, Gpa 5.25/6.00

High School Diploma, Quantitative, Humanitarian And Language Studies, Gpa 6.00/6.00