UCC Foundation


The UCC Foundation has the extremely important task of managing and stewarding the College’s endowment. It's directed by an 11-member board of trustees drawn from Old Boys, parents and friends of UCC.

The foundation has an endowment of about $75 million, almost three-quarters of which is restricted by donors in named funds. The endowment distributes an annual amount to the College based on formulae approved by the board of trustees.

The foundation is a charity registered apart from the College and was incorporated under the laws of the Province of Ontario in 1962.

Board of Trustees (Canada)

Richard Willoughby '80, President

Richard’s corporate and commercial practice focuses on mergers and acquisitions and securities transactions, with particular experience in cross-border matters and the financial services sector. His mergers and acquisitions experience includes advising on private acquisitions and divestitures (often in an auction context), leveraged buyout transactions, tender offers and joint ventures. His securities transactions experience includes acting for issuers and underwriters in public offerings and private placements of equity, debt and derivative securities.

Richard practised in the Torys office in London, England from 1989 to 1992, where he advised on international merger and acquisition transactions and Euromarket financings. Richard was based in the firm’s New York office from 2000 to 2008 and has since been based in Toronto.

Richard is an Old Boy from the class of 1980 and the parent of Robert '11 and Andrew '15.


Jessica Chutter

Jessica Chutter is Managing Director and Chairman of Biotechnology Investment Banking at Morgan Stanley. Jessica has helped build Morgan Stanley's biotechnology franchise during her 27 year career through advising companies in $65Bn of advisory transactions and $25Bn of capital raising. 

Jessica has a BA in Commerce and Honours Economics from McGill University and an MBA from Harvard Business School. She serves on the Board of Directors of MaRS Innovation. 

Jessica and her husband, Derek, live in Toronto with their three children, Andrew 2014, Jennifer and Kevin 2019. 

Andrew Dunn

Andrew is managing partner and chief operating officer at Altas Partners, a private equity firm he co-founded with Andrew Sheiner following a 27-year career with Deloitte. Altas Partners focuses on acquiring and operating outstanding North American-based businesses with stable cash flow and great market positioning.

Named one of Canada’s leading advisors by the International Tax Review, Andrew was managing partner of tax and most recently vice-chair of Deloitte Canada and chair of its client cabinet, responsible for the firm’s largest clients and government relationships. Andrew led Deloitte's vision and efforts to make Canada more globally competitive, most recently as co-author of "The Future of Productivity" research aimed at improving business productivity. Andrew has delivered expert testimony before the House of Commons Standing Committee on Finance and the Senate Standing Committee on Banking, Trade and Commerce.

Andrew was educated at the University of Waterloo (bachelor of arts, 1986; master of accounting, 1987) and is a fellow of the Institute of Chartered Accountants. He's a founding member and co-chair of the Deloitte Centre for Tax Education and Research at the University of Waterloo, a governor of the Canadian Tax Foundation, a director of the Children’s Aid Foundation and a trustee of the McMichael Canadian Art Collection.

Andrew and his wife Christine live in Toronto with their two sons, Charlie '16 and Liam '18.


Doug Guzman
Doug Guzman is Head of Global Investment Banking of RBC Capital Markets. He is responsible for the firm's Investment Banking and Equity Capital Markets teams globally, as well as U.S. Municipal Finance. In addition, Doug has senior client coverage responsibility for a number of RBC Capital Markets' most important clients. Doug is a member of the firm's Operating Committee and Loan Commitments Committee. Doug has led client transactions involving mergers and acquisitions, debt and equity financings and restructurings in the U.S., Canada and Europe.

Before joining RBC in 2005, Doug was a Managing Director at Goldman Sachs in New York and Toronto, where he had co-head responsibility for each of the Global Metals and Mining and the Canadian Investment Banking businesses.

He is a member of the Board of Directors of the St. Michael's Hospital Foundation and the Advisory Board of the Richard Ivey School of Business Administration at The University of Western Ontario. Doug has an Honours BA (Business Administration) from the University of Western Ontario and an MBA with high distinction (Baker Scholar) from Harvard Business School.

Doug and his wife Sheila Brown are the parents of Davis, class of 2017.


Russ Higgins '81

Russell is president of Mandarin Creek Developments and a principal of MacPherson Builders Limited, a builder of low-rise residential housing projects. Among his many involvements at UCC, he was a member of the UCC Association Council and is past chair of the Council of 1829. Russell and his wife June have one son, Simon ’16.


Matthew Johnson '95



Peter Kay

Peter is a retired senior vice-president of Canadian Imperial Bank of Commerce. He spent 32 years, or most of his working career, with the bank. During his last position he was responsible for the management of the capital of the bank and was deputy chair of CIBC's pension fund of some $3.5 billion. His involvement with the pension fund spanned approximately 15 years, during which time it went through several reorganizations and transformations to improve its governance and effectiveness.

Peter earned his BASc in engineering from the University of Toronto and his MSc in management science from Imperial College, University of London (England).

Peter is the parent of Langdon '17.


Jim Walker

Jim co-founded Callisto Capital and is involved in all aspects of its business. For Callisto’s most recent fund, among other activities, Jim orchestrated the creation of Canada’s leading environmental analytical services business and worked with management to facilitate the buyout of Canada’s largest integrated rehabilitation services company. Jim also had oversight for two Callisto investee companies sold during 2006 and 2007. Prior to Jim’s private equity career, he had been the CEO of a large publicly traded company and has been a securities and mergers and acquisitions lawyer with one of Canada’s largest law firms. More specifically, from 1992 to 1998, Jim was a senior officer (including president and CEO) of Gentra Inc., a leading Canadian property investment and real estate merchant banking operation with a market capitalization in excess of $1 billion and listed on the TSX 300. Before joining Gentra, Jim was a partner with the law firm of Fraser Milner Casgrain (then Fraser & Beatty), specializing in mergers and acquisitions and securities law.

Jim is a graduate of the University of Toronto (B. Comm) and of Queen’s University (LL.B).

Jim is the parent of Richard '10, Matthew '11, Charles '13 and Robert '17.


Richard Wernham
Richard has more than 20 years of experience in the global wealth management industry and was the founder and chief executive of Global Strategy Financial, one of Canada’s largest independent mutual fund companies. He's the chairman of the Soutterham Group and was formerly a lawyer with Torys, specializing in securities and corporate law.

Richard was also a special lecturer in law at Trinity College at the University of Toronto from 1977 to 1994 and remains active in the academic community. He's chair of the board of Greenwood College School, a trustee of Lakefield College School Foundation and a senior fellow of Massey College.

Richard is the parent of Nicholas '02. He's also chair of the UCC Foundation investment committee and serves on the Wernham and West Centre for Learning advisory committee.


Patti MacNicol, treasurer

Foundation Honorary Trustees

David Beatty '59
Cathy Clark
Charles Cowan '46
John Eaton '57
Peter Eby '56
Alan Ely '65
Bernard Gustin ’65
Tom Heintzman '58
Sam Hughes '48
Arthur James ‘33
Hans Michael Jebsen
Desiree Jebsen
Lee Lau
Margaret Lau
Elizabeth Lee
Jimmy Lee
Michael MacMillan '74
Diane Mara
Ted McMurrich '34
Kelly Meighen
Michael Meighen
Tony Ormsby '44
Paul Phelan '69
Andy Pringle '69
Loretta Rogers
John Stevenson '47
John Stewart
Richard M. Thompson
John Thompson '60
Richard Wernham
Roly Watt '62
Julia West
Galen Weston
Bill Wilder '40
Paul Winnell '67
Michael Wilson '55
William Wong '82

Foundation Audit Committee

Andrew Dunn, Chair
Allan Buitendag

Foundation Investment Committee

Jim Walker, Chair
Matt Farb ’96
Elliot Johnson ’94
Peter Kay
Patti MacNicol
Tim Price
Richard Rooney
Charlie Sims
John Stevenson
Richard Willoughby

Foundation Nominating Committee

Peter Kay​, Chair
​ Jessica Chutter​
Richard Willoughby