Alberta Fires Pension Manager’s Board, CEO Over Rising Costs
Alberta Investment Management Corp.’s chief executive officer and entire board were sacked by the provincial government, which said the money manager has increased compensation and staff but hasn’t produced acceptable returns.
Alberta government terminates AIMCo board over underperformance, rising costs
The provincial government of Alberta, Canada, has terminated the entire board of the C$168.9 billion ($124.5 billion) Alberta Investment Management Corp., Edmonton, citing underperformance issues and rising costs.
Alberta fires AIMCo board and CEO, NDP responds
Court Ellingson, Alberta NDP shadow minister for finance, issued a statement in response, calling the move “UCP incompetence.” “In an unprecedented move, the UCP fired the entire board and the CEO, and made their own politician—not an investment expert—the sole person in charge of over $170 billion of these Albertans’ pensions,” said Ellingson.
Alberta government fires AIMCo board, citing rising costs and poor performance
Alberta’s finance minister has sacked the board of directors of AIMCo, which manages pension and other funds for the province and handles more than $160 billion in assets
Alberta dismisses provincial pension manager's entire board, citing low returns
Canada's main crude-producing province Alberta dismissed the Alberta Investment Management Corp's (AIMCo's) entire board on Thursday, saying the pension manager had underdelivered returns from the investments of provincial government funds it manages.
Alberta government fires AIMCo board to 'reset' pension management fund
For now, Finance Minister Nate Horner has been appointed the sole director and chair for AIMCo, according to the province.
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Alberta Government Dissolves AIMCo Board Over Performance Concerns
The Alberta government on Thursday removed the entire board of the (AIMCo), citing years of failing to meet mandated ...
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Alberta government fires AIMCo board
Finance Minister Nate Horner said in a statement Thursday that the changes at AIMCo are due to rising management fees ...
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'Major reset': Province sacks AIMCo board, finance minister takes over
The province made the announcement Thursday, saying it decided to “reset” AIMCo’s focus, adding that Finance Minister Nate ...
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Alberta appoints Ray Gilmour as interim CEO of AIMCo
The provincial government has announced the new chief executive officer of the Alberta Investment Management Corporation ...
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Finance minister appointed interim director after AIMCo board turfed
The provincial government on Thursday has appointed Minister of Finance and Treasury Board President Nate Horner to right the flailing ship of AIMCo, Alberta’s investment agency. Horner will ...
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Alberta enabling Halal mortgages, implementing promised electric vehicle tax
Alberta is moving to enable alternative financing measures (AFM), including Halal mortgages, and introducing a previously ...
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Smaller benefit hikes coming for hundreds of thousands of Albertans relying on provincial programs
A new bill would put default limits on annual increases to the benefit payments many lower-income and disabled Albertans rely ...
Alberta government fires AIMCo board citing rising costs, poor performance
Finance Minister Nate Horner said the reason is poor performance, with rising staffing and management fees coupled with a consistent failure to meet mandated benchmark returns.