AIMCo CEO to Retire, Search Underway

Leo de Bever

Leo de Bever

Leo de Bever, the CEO of the Alberta Investment Management Corporation (AIMCo) announced today that he will retire. He will remain as CEO until the board finds a replacement. The 65-year-old de Bever has been with AIMCo since it was spun off as a crown corporation back in 2008. For the latest fiscal year, AIMCo generated a 12.5% net return and 14% on its balanced funds.

Under de Bever, AIMCo has transformed itself into a public asset owner powerhouse buying assets in private markets, building a robust risk framework and lowering internal costs by hiring talent in-house.

In a press release, de Bever stated, “I’m now the oldest CEO in the pension industry in Canada.” He added, “The board felt that they should start a CEO search because they want to make sure they have someone in place for the next five or 10 years. In the meantime, I’m in place and it’s business as usual.”

In 2013, the Sovereign Wealth Fund Institute ranked Leo de Bever #15 in the Public Investor 100, a list of the 100 most significant and impactful public investor executives.

AIMCo is the manager of the Alberta Heritage Savings Trust Fund. The public asset investor has $8 billion deployed to real estate in assets such as the Yorkdale Shopping Centre, Scarborough Town Centre and Bow Valley Square in Calgary.

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