Richard Leibovitch is the Union's Vice Chairman and Alternate Governor.

An investment professional with over 30 years of experience, managing risk and identifying investment opportunities across a wide array of asset classes, Mr. Leibovitch founded Arel Capital in 2013 to focus on U.S. multifamily real estate. The firm currently owns approximately $2 billion in multifamily properties in New York, Texas, North Carolina and Colorado. 

From 2003 to 2012, Mr. Leibovitch served as the Chief Investment Officer, a member of its Executive Committee and board member of Gottex Fund Management, a publicly-traded fund of hedge fund firm with over $7 billion in assets under management. From 1998 to 2003, Mr. Leibovitch was the Global Head of Trading and Derivatives for Putnam Investments. He was a member of their Executive and Management Committees. From 1985 to 1998, Mr. Leibovitch was a senior executive at JP Morgan, where he held a number of senior trading positions including Head of Derivatives Trading, Head of Mortgage-Backed Securities Trading and Co-Head of Equity Derivatives.

Mr. Leibovitch received a B.A (Hons.) from McGill University and an M.Phil from Cambridge University.