The article reports on the appointment of former Canadian Prime Minister Stephen Harper as the board chair of Alberta Investment Management Corporation (AIMCo), which manages a pension fund worth $170 billion. The appointment has raised concerns about political interference in the organization’s decision-making process.
Here are some key points from the article:
- Harper’s background: Harper, who left politics almost a decade ago, has been involved in private business ventures, including becoming a working equity partner at Azimuth Capital Management.
- AIMCo’s role: AIMCo manages a pension fund worth $170 billion and provides benefits to 375,000 Albertans.
- Concerns about political interference: The appointment of Harper has raised concerns about potential politicization of the organization and government influence over investment decisions.
- Return of former board members: Three other former board members have been appointed to AIMCo’s board, providing continuity for the organization.
- Pension experts’ reaction: Pension experts have welcomed the return of the three former board members but remain concerned about potential government intervention.
The article also quotes several individuals, including:
- Finance Minister Katherine White, who will sit on the board as a permanent member and has assured that there is no dual mandate for economic development.
- Alberta NDP finance critic Court Ellingson, who called Harper’s appointment "the worst kept secret" and raised concerns about potential politicization of AIMCo.
- Mount Royal University political scientist Duane Bratt, who said the appointment is related to reshaping and growing the province’s Heritage Fund, as well as potential greater political control.
Overall, the article highlights the controversy surrounding Harper’s appointment as AIMCo’s board chair and raises questions about potential government interference in the organization’s decision-making process.
