The Alberta government surprised everyone last week by firing the CEO and entire board of directors of AIMCo last week, declaring the need for a “reset” at the $160-billion asset manager.
Calgary Herald business columnist Chris Varcoe and Financial Post journalist Barbara Shecter have been following the story and will answer your questions about the shocking move — and what it could mean for AIMCo, Danielle Smith’s Alberta pension plan gambit and the province’s Heritage Fund — during a live online Q&A session.
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Take part in the discussion in the comments section below starting at noon today, Wednesday, Nov. 13, and read on to learn more about what could have precipitated the recent drastic personnel moves at the Alberta Investment Management Corp.
Alberta Finance Minister Nate Horner dropped a bombshell on the afternoon of Nov. 7, revealing the leadership — including CEO Evan Siddall — and board of the AIMCo had been dismissed.
High costs and a reliance on third parties were the officially stated reasons for the firings, with the government keen to restore trust in the investment manager, Horner said in a written statement.
“It seemed like it needed a reset and that’s what we did,” Horner told reporters in Edmonton.
Displeasure about other aspects of
Read more on financialpost.com