Stephen Harper to head Alberta’s public pension fund

The Alberta government announced on Wednesday the appointment of Stephen Harper, former Prime Minister of Canada, to head the board of directors of the Alberta Investment Management Corporation (AIMCo), the manager of the province’s civil servants’ pension fund. .

I accept this role, on a voluntary basis, because I believe it is a significant act of public service to my adopted province for 46 yearsa dit Stephen Harper.

Mr. Harper added that he felt in a position unique which would allow him to help theAIMCoto improve its governance.

For several decades, Canadian pension plans have earned a global reputation for their professional activities, impeccable ethics and prudent risk management. I accepted the role of chairman of the board because I want to see theAIMCo further embody these values ​​and contribute positively to this culture.

Alberta Premier Danielle Smith is happy that the former federal premier accepted the province’s offer.

We are extremely fortunate that Mr. Harper has agreed to take the helm of theAIMCo.

L’AIMCo manages more than $160 billion in funds, including pension funds, as well as the Heritage Savings Fund, which the province wants to increase to more than $250 billion by 2050.

“Restore confidence inAIMCo »

The announcement of Stephen Harper’s appointment comes following the dismissal, on November 7, 2024, of all members of the board of directors of theAIMCo and that of four senior executives, including President and CEO Evan Siddall.

Ray Gilmourdeputy minister of the Executive Council, was appointed the next day to fill the interim position of CEO.

The government explained the collective dismissal by citing problematic management and governance, including an explosion in costs without a corresponding increase in returns for client funds.

The province indicated Wednesday that it had established a new board of directors, whose mission will include “restoring confidence in theAIMCo ».

La nomination [de Stephen Harper] and that of the rest of the Board of Directors is a major step forward in giving all Albertans confidence in the sustainability and long-term success of theAIMCo.

Members of the previous board of directors, including Navjeet Singh Dhillon, Jason Montemurro and James Keohane, have been reappointed, says a press release from the Alberta government.

The Minister of Finance, Nate Hornerwill now be a permanent member of the AIMCo Board of Directors and will not be remunerated for his role.

The latter praised the qualities of Stephen Harper as well as its solid record in managing public funds when he was Prime Minister of Canada from 2006 to 2015.