Latest news with #Aimco
Calgary Herald
8 hours ago
- Business
- Calgary Herald
AIMCo seeks new CIO amid push to expand Calgary office
Article content Alberta Investment Management Corp. is hunting for a new chief investment officer as it carries out an overhaul that began last year when the provincial government fired the board and its top executive. Article content The new CIO would be based in Calgary, the largest city in Alberta and the home of Canada's major oil and gas companies. Edmonton-based Aimco is considering both internal and external candidates, according to people familiar with the matter, asking not to be identified because they weren't authorized to speak publicly. Article content Article content Article content Four people held the CIO title at Aimco in less than four years. The most recent, Marlene Puffer, departed in September. Article content Article content Aimco, which manages about $180 billion of pension capital and other money for the Canadian province, wants to increase its staff in Calgary to boost the city's financial sector. Newly appointed Chief Legal Officer John Walsh works out of the Calgary office, which has about 70 of Aimco's 680 employees. Article content 'The size of the team in Calgary has grown and we're looking for space to accommodate them,' Aimco spokesperson Carolyn Quick said. The firm is also changing its remote-work policy, requiring employees to work from the office three times a week starting in January, the people said. Article content Aimco's restructuring was set in motion on Nov. 7, when Alberta's finance minister sacked the board, Chief Executive Officer Evan Siddall and three other executives, saying they had allowed expenses to soar to unacceptable levels. Ray Gilmour was named interim CEO and Stephen Harper, the former Canadian prime minister, was installed as chair. Article content Article content Since then, the money manager's global expansion, championed by Siddall, has reversed. It shuttered its offices in New York and Singapore and parted ways with David Scudellari, its global head of private assets, and Kevin Bong, the executive who ran the Singapore office. Article content Last month, Aimco laid off around a dozen employees and decided to freeze around 25 vacant roles, according to one of the people. Earlier this year, Aimco eliminated 19 jobs, including the role responsible for the diversity, equity and inclusion program. Article content Aimco produced a 12.6% return last year in its balanced fund, missing its benchmark of 13.4%. Its total fund return was 12.3%. But the fund's results exceeded those of some peers in the so-called Maple Eight, such as Ontario Municipal Employees Retirement System and Ontario Teachers' Pension Plan, which last year earned 8.3% and 9.4%, respectively.
Bloomberg
11 hours ago
- Business
- Bloomberg
Alberta Pension Looks For New CIO Amid Push to Expand Calgary Office
Alberta Investment Management Corp. is hunting for a new chief investment officer as it carries out an overhaul that began last year when the provincial government fired the board and its top executive. The new CIO would be based in Calgary, the largest city in Alberta and the home of Canada's major oil and gas companies. Edmonton-based Aimco is considering both internal and external candidates, according to people familiar with the matter, asking not to be identified because they weren't authorized to speak publicly.
Bloomberg
14-02-2025
- Business
- Bloomberg
Trade Shock Offers Canada a Chance to Kill Some Bad Old Ideas
Welcome to Bay Street Edition, our weekly newsletter devoted to what's happening in Canadian finance, covering strategy, deals, people moves and economics. I'm Christine Dobby, Bloomberg's Toronto-based banking reporter, and you'll find me in your inbox every Friday. This week, we're talking about breaking down provincial barriers, Canada's deals landscape and the latest drama at Aimco. Plus: put a ring on it.
Yahoo
11-02-2025
- Business
- Yahoo
Aimco Announces Fourth Quarter 2024 Earnings Date
DENVER, Feb. 11, 2025 /PRNewswire/ -- Apartment Investment and Management Company ("Aimco") (NYSE: AIV) announced today that it plans to report 2024 fourth quarter and full year results on Monday, February 24, 2025, after the market closes. Aimco's earnings release will be available in the Investor Relations section of its website at About Aimco Aimco is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Aimco's mission is to make real estate investments where outcomes are enhanced through its human capital so that substantial value is created for investors, teammates, and the communities in which we operate. Aimco is traded on the New York Stock Exchange as AIV. For more information about Aimco, please visit its website View original content to download multimedia: SOURCE Apartment Investment and Management Company (Aimco) Sign in to access your portfolio
Bloomberg
27-01-2025
- Business
- Bloomberg
Alberta Pension Manager Cuts DEI Role and 18 Other Jobs in Shakeup
Alberta Investment Management Corp. eliminated 19 jobs in non-investment areas, months after the government of the Canadian province ordered changes at the pension fund manager and fired its chief executive officer and the board. The employee responsible for Aimco's diversity, equity and inclusion program is one of the 19, according to people familiar with the matter.
