THE RISE In 1979, 32-year-old Jim Leech was appointed executive vice-president of Unicorp Financial Corporation and soon became chairman George Mann's right-hand man. By 1983, Unicorp's assets had grown from $57 million to $300 million (Canadian), thanks to the duo's strategy of buying and revamping undervalued companies.
THE BIG UH-OH To expand into merchant banking, Leech orchestrated the 1988 takeover of the troubled New York-based Lincoln Savings Bank for $150 million (U.S.). The foray proved disastrous. By 1990, Unicorp's U.S. subsidiary had lost $97 million (U.S.). More problems followed and, two years later, Vancouver-based Westcoast Energy bought Unicorp's biggest asset, Union Energy, reducing the empire to a shadow of its former self. Leech left his post as Union's CEO that fall.
NEXT Leech joined security-products manufacturer Disys Corporation as president and CEO. In 1996, he left to join InfoCast Corporation, an application service provider. After it suffered in the tech meltdown, Leech wanted to move to a more stable environment. "During the tough times," he says, "you miss places that were great successes."
WHERE HE IS NOW In September, 2001, Leech was appointed senior vice-president at the Ontario Teachers' Pension Plan Board, where he heads a $4-billion merchant banking portfolio.