Alberta Investment Management Corp., Edmonton, which manages C$70 billion (US$63.5 billion) in pension, endowment and government funds, announced on Friday its plans to search for a new CEO.
Current CEO Leo de Bever said in a telephone interview the search will be a significantly long process and is part of an overall succession plan for when he eventually leaves. Mr. de Bever said he has not announced his retirement and will “stay as long as they want me to.”
Mr. de Bever is the first CEO for AIMCo, which was established in January 2008. He had previously been the chief investment officer of the A$45.5 billion (US$42.2 billion) Victorian Funds Management Corp., Melbourne.
There is no specific timeline to complete a transition.