Alberta Investment Management Corporation Announces Chief Executive Officer Appointment and 2020 Performance Results
EDMONTON, AB, April 15, 2021 /PRNewswire/ -- The Board of Directors of Alberta Investment Management Corporation (AIMCo) is pleased to announce the appointment of Mr. Evan Siddall as Chief Executive Officer. Mr. Siddall will assume his responsibilities on July 1, 2021, and will succeed Kevin Uebelein, who has served in the capacity of CEO since January 1, 2015.
Also released today are AIMCo's financial results for the year ended December 31, 2020. On behalf of its 31 Alberta-based pension, endowment and government fund clients, AIMCo earned a total fund return of 2.5% net of all fees, representing approximately $3.0 billion in net investment income, with assets under management reaching $118.6 billion. The annualized total fund returns over four and ten years are 6.1% and 7.7%, respectively.
Chief Executive Officer Appointment
Evan Siddall most recently served as President & Chief Executive Officer of the Canada Mortgage and Housing Corporation (CMHC), a position he has held since January 1, 2014. Under Mr. Siddall's leadership, CMHC transformed itself into a client-centered, innovative, impactful organization.
Mr. Siddall served as Special Advisor to the Governor of the Bank of Canada before joining CMHC. His experience also includes 20 years with investment banking firms in Toronto and New York and two years as a senior executive with Irving Oil Limited.
Mr. Siddall has a B.A. in Management Economics from the University of Guelph, a law degree from Osgoode Hall Law School and has completed Harvard Business School's Presidents Program in Leadership.
"Evan is an executive who is ready to drive the organization forward with an exceptional focus on clients, commitment to collaboration, and deep knowledge of financial services. The Board and I look forward to working in partnership with him in this exciting new chapter for AIMCo." said Mark Wiseman, Chair, AIMCo Board of Directors.
"On behalf of the Board of Directors, I want to express our gratitude to Kevin Uebelein for his unwavering commitment to AIMCo during the past six years. The organization is well-positioned as one of Canada's most accomplished institutional investors," added Wiseman. "Kevin's passion for AIMCo is undeniable and he has built a legacy of which all Albertans can be proud." Kevin remains the CEO of AIMCo until June 30, 2021 and will then support transition initiatives.