Our People

The quality of our people is the cornerstone of our ability to serve our clients. For this reason, we invest tremendous resources in identifying exceptional people, developing their skills and creating an environment that fosters their growth as leaders.

Our people join Morneau Shepell’s Asset & Risk Management for the opportunity to apply their talents to complex, important challenges. Their diversity of background, discipline, nationality and outlook ensures our clients receive a singular balance of deep and broad expertise.


Benoit LabrosseBenoit Labrosse

Vice President

Benoit Labrosse is a Partner and leads the risk management offering in Morneau Shepell’s Asset and Risk Management consulting practice. Benoit has more than 25 years of experience in the field of pension and investments. He has consulted on actuarial, governance, investments and financial risk management for various defined benefit pension plan sponsors by helping develop sustainable or exit strategies for their pension plans.

Benoit is also a contributor to the development of intellectual capital in the pension risk area and he has experience in assisting plan sponsors to balance cost and risk through pension journey planning. He is a frequent speaker at conferences and has written numerous articles on pension risk management.

Benoit has a Bachelor of Science degree in Actuarial Sciences, is a Fellow of the Society of Actuaries and a Chartered Enterprise Risk Analyst and is an Enrolled Actuary under the Employee Retirement Income Security Act.

Benoit Labrosse can be reached via email at blabrosse@morneaushepell.com.

Zev FrishmanZev Frishman

Senior Strategic Advisor, Asset & Risk Management

Zev has been with Morneau Shepell Asset and Risk Management since February 2016. He has over 40 years of investment-management experience. Previously, he served as Executive Vice President and Chief Investment Officer with Open Access Limited. Additionally, he was a member of the Ontario Teachers' Pension Plan investment team for 18 years.

Zev has extensive experience in all aspects of fund management – development of policies, strategic and tactical asset mix, risk management, selection of external managers, as well as internal management of global equity and overlay of derivative portfolios. 

He is a regular conference speaker on a variety of investment management topics and wrote several articles for Benefits Canada, the Canadian Investment Review, the Brandes Institute, Non Profit News and others on a variety of investment topics. He also received the 2010 Benefits Canada award for outstanding achievement and is on the 2010 list of "Top 25 Most Influential Plan Sponsors."

Zev holds a B.A. in Economics and Statistics (Cum Laude) from the Hebrew University in Jerusalem, Israel, a M.Sc. in Economics from the Israeli Institute of Technology and has completed PhD comprehensive exams in finance at Simon Fraser University in Vancouver, BC. He is a graduate of the Institute of Corporate Directors. He is currently a member of the Brandes Institute Advisory Board and is a Crown Trustee of ONE-T (Ontario Non-union Education Trust – the Principals' and Vice-Principals' Associations and other non-unionized employees Employee Life and Health Trust). He also served for 5 years as a board member and treasurer of a not-for-profit organization.

Zev Frishman can be reached via email at zfrishman@morneaushepell.com

Jean BergeronJean Bergeron

Vice President

Jean Bergeron is Managing Partner of Morneau Shepell’s Asset Management practice in Montréal and has more than 25 years of experience in the industry. Jean is also Morneau Shepell’s National Specialist in Asset Management consulting. He advises employers on all aspects of asset and liability management for pension funds, including asset and liability stochastic projections, investment policy review, asset allocation, investment performance, fund manager and custodian selection, governance, and risk studies.

Jean graduated from the Université de Montréal with a Bachelor of Science degree in Mathematics. He is a Fellow of both the Society of Actuaries and the Canadian Institute of Actuaries. Jean is also a CFA Charterholder and a member of the Association des Analystes Financiers de Montréal. Jean is a frequent speaker at industry conferences and has written numerous articles on asset management.

Jean Bergeron can be reached via email at jbergeron@morneaushepell.com

Jean-François PepinJean-François Pepin

Principal, Operations

Jean-François joined Morneau Shepell Asset and Risk Management Ltd. (“MS ARM”) in April 2019 as Principal, Operations, bringing 20 years of experience. Prior to joining Morneau Shepell, he was Associate Partner and Head of Operations at Aon Hewitt Investment Management Inc. He began his career at State Street Global Advisors, Inc. where he held management positions in the Operations and Portfolio Management departments. 

Jean-François graduated from McGill University with a Bachelor of Commerce degree in Accounting and Finance degree and is a Chartered Financial Analyst (CFA) charterholder.

Jean-François Pepin can be reached via email at jpepin@morneaushepell.com

CJ HengChiang-Jun (C.J.) Heng

Manager, Investments and Operations

C.J. Heng is a Manager, Investments and Operations with Morneau Shepell Asset and Risk Management Limited. (‘MS ARM’), joining the firm in May 2018.  He has a range of industry experience in portfolio management, including helping set strategic asset mix and asset allocation decisions, performing external manager research and due diligence, and providing ongoing investment monitoring and oversight.

Prior to MS ARM, his previous work experience was at a boutique investment management firm as well as a large Canadian defined benefit pension plan.

C.J. graduated from Wilfrid Laurier University with an Honours Bachelor of Business Administration degree, and is a CFA charterholder.

He can be reached via email at cheng@morneaushepell.com

Muhammed IftekharMuhammad Iftekhar

Portfolio Manager and Consultant

Muhammad is the Consultant, Portfolio Manager, Senior Trader and Product Development Specialist at Morneau Shepell Asset and Risk Management Ltd. (‘MS ARM’). He joined the firm in 2016 and is responsible for managing several of MS ARM’s client relationships as well as relationships with service providers including Brokerages, Custodians, Auditors and External Fund Mangers. Initially he was also the Operations Lead, in both a Financial and Investment Capacity, and has now transitioned to focus more on the responsibilities listed above.

He is the sole Portfolio Manager on the Morneau Shepell Opportunistic Fund LP, for MS ARM’s HNW clients, and for over a dozen pension plans. He also acts in a Co-Portfolio Manager capacity for the MS ARM equity and alternative fixed income funds. He is the subject matter expert on ETFs and FX trading strategies.

During his time with MS ARM, Muhammad has been the project lead in launching three MS ARM Funds, put MS ARM products on DC platforms including as “Life Cycle” options, and on-boarded numerous OCIO clients including one of Ontario's largest DB plans.

Muhammad has more than five years of experience working for another major consulting firm in different capacities and most recently supported their investment consulting practice. He holds a Bachelor’s degree in Business Economics from York University and has also completed a Professional Certificate in Accounting. Muhammad is a CFA charterholder. Muhammad is registered as an Advising Representative (Portfolio Manager) with the Ontario Securities Commission.

Muhammad Iftekhar can be reached via email at miftekhar@morneaushepell.com

Jacob WhiteJacob White

Senior Investment Analyst

Jacob White is an Investment Analyst with Morneau Shepell Asset and Risk Management Ltd. (‘MS ARM’). He joined the firm as a cop-op student in 2016 and returned in 2017 as full time supporting the company’s operations, research, marketing, and sales departments.

He holds Honours Bachelors’ degrees in Business Administration from Wilfrid Laurier University and Mathematics from the University of Waterloo. Jacob has also passed CFA level 1.

Jacob White can be reached via email at jawhite@morneaushepell.com

Nicholas FreundNicholas Freund

Senior Investment Analyst

Nicholas Freund is an investment analyst with Morneau Shepell Asset and Risk Management Ltd. (‘MS ARM’), joining the firm in 2016. Nicholas supports MS ARM’s efforts in investment manager research, asset allocation, investment strategy assessment, client reporting, and other business initiatives.

He also supplements the investment team with research on economic trends and capital market outlooks. In addition to his role with MS ARM, Nicholas also provides investment analyst support to the Morneau Shepell DC Consulting practice. Prior to joining MS ARM in a full-time capacity, Nicholas previously worked with MS ARM as an intern, in addition to positions at other leading Canadian financial institutions.

He graduated from Western University with an Honors BA Finance and Economics degree and is currently a CFA level 2 candidate.

Nicholas Freund can be reached via email at nfreund@morneaushepell.com