Alberta Investment Management eliminated 19 jobs in noninvestment 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.
A spokesperson for the firm confirmed the job cuts and said the move hasn’t lessened AIMCo’s commitment to “an equitable and inclusive workplace.”
“All AIMCo colleagues will continue to share the responsibility and accountability for ensuring AIMCo remains diverse, inclusive, innovative and motivating, in keeping with our corporate objectives and core values,” spokeswoman Carolyn Quick said by email.
Alberta Finance Minister Nate Horner stunned AIMCO executives on Nov. 7 by firing CEO Evan Siddall, other senior executives and the entire board of directors, saying they had allowed expenses to soar to unacceptable levels. The government named Ray Gilmour as interim CEO and installed Stephen Harper, the former Canadian prime minister, as chair.
AIMCo’s investment team, which manages about C$169 billion ($118 billion), wasn’t affected by the 19 job cuts.
