Kevin Uebelein, CEO of the Alberta Investment Management Corporation (AIMCo), is leaving the organization by the end of June, 2021.
Uebelein, who has held the top AIMCo post since 2014, has agreed with the board to “begin now the process of CEO leadership transfer,” AIMCo spokesperson Denes Nemeth said in an email Tuesday.
“AIMCo remains in very capable hands with Kevin continuing at the helm until that date and he has the full support of the board and management as he continues to advance the many priorities before us,” Nemeth wrote.
AIMCo, a provincial corporation, manages the investment of several provincial government funds, including the Heritage Savings Trust Fund. It also invests money in the pension funds of more than 300,000 Alberta public sector workers.
AIMCo has been under scrutiny since the spring, when investment managers lost more than $2 billion on a risky investment strategy. The losses prompted AIMCo’s board to order an external review, and the corporation pledged to improve.
Nemeth said AIMCo’s board is immediately starting an international search for a new CEO, and will consider candidates inside and outside the organization.
Uebelein hasn’t indicated his future plans, he said.
