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AIMCo announces former CEO of CPP Investment Board to chair its board of directors

A file photo of the AIMCo logo. CREDIT: AIMCo

The Alberta Investment Management Corporation (AIMCo) announced Friday that a corporate executive who once served as president and CEO of the Canadian Pension Plan Investment Board has been appointed to chair its board of directors.

The entity that manages Alberta’s public pensions said Mark Wiseman will assume the new role on July 1 once current chair Richard Bird’s term is complete.

AIMCo said in addition to his time with the CPPIB, Wiseman has been the global head of active equities for BlackRock, Inc., a New York-based investment management firm, where he also chaired two different committees.

READ MORE: Wiseman comments after CPP Investment Board reports net assets rise to $172.6B 

AIMCo noted that Wiseman has previously also been “responsible for the private equity fund and co-investment program at the Ontario Teachers’ Pension Planx.”

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“I look forward to working with my fellow directors as AIMCo continues to serve its clients for the long term,” Wiseman said in a news release posted to AIMCo’s website. “I, along with members of the board and employees of AIMCo, would like to thank Richard for his service to the province during his two three-year terms.

“He has offered a steady and experienced hand in guiding the organization’s strong governance and investment decision-making.”

In the same news release, Bird welcomed Wiseman to AIMCo.

“Mark’s accomplishments in investment management, his strategic thinking and leadership make him an excellent choice to chair this board,” he said.

According to AIMCo, Wiseman will be “donating his compensation as chair of the board to the United Way to assist communities across Alberta.”

READ MORE: AIMCo CEO responds to concerns about potential impact of oil price crash on public pensions 

Earlier this spring, AIMCo faced scrutiny following an analysis of investments in smaller energy companies at a time when the sector is struggling.

Watch below: Some Global News videos about AIMCo.

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