Former PM Stephen Harper Appointed Chairman of Alberta Investment Management Corporation

Former Canadian Prime Minister Stephen Harper has been named chairman of the board for the Alberta Investment Management Corporation (AIMCo), a critical step in Alberta’s efforts to strengthen its investment management operations. The announcement, made by the provincial government on Wednesday, follows a sweeping leadership reset at AIMCo earlier this month.

“We are incredibly fortunate that Mr. Harper has agreed to take on this leadership role with AIMCo,” stated Alberta Premier Danielle Smith in a press release. “His guidance will be essential as we work towards our ambitious target of growing the Heritage Savings Trust Fund to over $250 billion within the next 25 years.”

AIMCo currently oversees more than $160 billion in assets, including pension funds and the Heritage Savings Trust Fund. However, concerns over rising operational costs and stagnant returns led to a decisive move by the province on November 7, when AIMCo’s entire board and four top executives, including CEO Evan Siddall, were dismissed.

Harper, who served as Prime Minister from 2006 to 2015, emphasized his commitment to enhancing AIMCo’s governance and restoring public confidence. Notably, he will serve in the role without compensation.

“This role is a meaningful act of public service to Alberta, my home for 46 years,” Harper remarked. “Canadian pensions are globally recognized for their professional operations and ethical standards, and I am committed to helping AIMCo further these values.”

The province has announced that Harper will work with a newly appointed board, including returning members Navjeet (Bob) Singh Dhillon, Jason Montemurro, and James Keohane. The deputy minister of Treasury Board and Finance will also join the board as a permanent member, serving on an unpaid basis.

Finance Minister Nate Horner, who temporarily chaired the board earlier this month, has stepped down with Harper’s appointment. The government hopes this leadership overhaul will provide AIMCo with the governance and strategic oversight needed to regain trust and deliver improved financial outcomes.