Stephen Harper appointed chairman of Alberta Investment Management Corporation
Former Prime Minister Stephen Harper Named Chairman of AIMCo Board
The Alberta government announced on Wednesday that former prime minister Stephen Harper has been appointed as the new chairman of the board of AIMCo, the Alberta Investment Management Corporation. Premier Danielle Smith expressed her gratitude for Harper taking on this leadership role, emphasizing the importance of strong governance oversight in managing the Heritage Savings Trust Fund.
AIMCo, which manages over $160 billion in funds, including pension funds and the Heritage Savings Trust Fund, recently underwent a “reset” following concerns about rising costs and stagnant returns for client funds. The entire board of AIMCo was removed on Nov. 7, along with CEO Evan Siddall and three other top executives.
Harper’s appointment signals a fresh start for AIMCo, with the province stating that he will lead a newly reconstituted board of directors to restore confidence and stability in Alberta’s investment management agency. Harper has committed to serving in this role on a pro-bono basis, citing it as a meaningful act of public service to his adopted home province where he has lived for the past 46 years.
In a statement, Harper highlighted the importance of upholding professional operations, ethical practices, and prudent risk management in Canadian pensions. He expressed his desire to help AIMCo embody these values and contribute positively to its culture, working alongside the new board of directors and management team.
Having served as Conservative prime minister from 2006 to 2015, Harper brings a wealth of experience and leadership to his new role at AIMCo. The province also announced the reappointment of several previous AIMCo board members, including Navjeet (Bob) Singh Dhillon, Jason Montemurro, and James Keohane.
Furthermore, the deputy minister of treasury board and finance will now serve as a permanent board member of AIMCo without compensation. This decision comes after Finance Minister Nate Horner’s appointment as interim board chair was rescinded earlier this month.
