Leadership Changes at AIMCO

The Alberta Investment Management Corporation (AIMCO) recently experienced significant leadership upheaval, with the CEO and several senior leaders abruptly dismissed during a meeting. This decision came as a shock, not only to those removed but also to their colleagues, highlighting a lack of transparency surrounding the government’s motivations. Officials claimed rising costs were not aligned with improved investment performance, noting a 29% increase in operational costs from 2019 to 2023 despite a strong average return of 8%. The suddenness of these changes raises questions about the governance of AIMCO and the implications for its independence from the provincial government.