Stephen Harper named chair of AIMCo, three directors reappointed
Former prime minister Stephen Harper has been appointed chair of Alberta Investment Management Corp., a move that has been widely anticipated since the province fired AIMCo’s board of directors and relieved chief executive Evan Siddall of his duties less than two weeks ago.
Three of those board members fired from the province’s $169-billion pension and endowment fund manager were reappointed Wednesday: Jason Montemurro, Jim Keohane and Bob Dhillon. But the Alberta government has also established a permanent board seat, unpaid, for the deputy minister of treasury board and finance, in order “to ensure more consistent communications between AIMCo and Alberta’s government.”
In a statement about Harper’s appointment as chair, Alberta Premier Danielle Smith said the former prime minister will be instrumental in the province’s plans to increase the size of its $25 billion Heritage Savings Trust Fund, which is managed by AIMCo, to more than $250 billion over the next 25 years.
“We’re incredibly fortunate that Mr. Harper has agreed to take on this leadership role with AIMCo,” Smith said. “His appointment, and that of the rest of the board, are a strong step forward in giving all Albertans confidence in the long-term sustainability and success of AIMCo.”
Harper said he was taking the role pro-bono as “a meaningful act of public service to my adopted home province of the last 46 years.”
He said he feels “uniquely positioned to help the organization improve its governance,” and noted that Canadian pensions have a global reputation for their professional operations, upstanding ethics and prudent risk management.
“I want to see AIMCo further embody these values and to positively contribute to this culture,” Harper said in the
Read more on financialpost.com
