Alberta appoints former PM Harper as AIMCo board chair, names three other members
The Alberta government has appointed former prime minister Stephen Harper as the new chair of AIMCo, less than two weeks after ousting the fund’s board of directors and its chief executive.
Confirming widespread speculation, the province announced Wednesday that Harper, the former federal Conservative party leader who served as Canada’s prime minister from 2006 to 2015, is the board chair of the provincial Crown corporation.
It has also reappointed three former board members of AIMCo, which is responsible for managing $169 billion of assets on behalf of provincial pension, insurance and government funds and endowments, including the Heritage Savings Trust Fund.
In a news release, Premier Danielle Smith said Harper will provide strong governance oversight to AIMCo, as the province seeks to grow the Heritage Fund to more than $250 billion in assets over the next 25 years.
“His appointment, and that of rest of the board, are a strong step forward in giving all Albertans confidence in the long-term sustainability and success of AIMCo,” Smith said in the release.
The three former board members reappointed to the board are Jason Montemurro, CEO of Montemurro Industries Inc., Mainstreet Equity Corp. CEO Navjeet (Bob) Singh Dhillon, and Jim Keohane, former CEO of the Healthcare of Ontario Pension plan.
Harper, 65, a former Calgary MP, will not receive any compensation for the position, the province said.
In a statement, Harper said he feels “uniquely positioned to help the organization improve its governance.
“Over several decades, Canadian pensions have earned a global reputation thanks to professional operations, upstanding ethics and prudent risk management,” he said.
“I have accepted the role of board chair because I want to
Read more on financialpost.com
