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AIMCo Names Siddall as Chief Executive After 2020 Trade Loss Bloomberg 1 hr ago Robert Tuttle
(Bloomberg) Alberta Investment Management Corp. appointed Evan Siddall as its new chief executive officer after the pension management company made a wrong-way bet on volatility last year.
Siddall is the former CEO of Canada Mortgage and Housing Corp., the national housing agency. He will succeed Kevin Uebelein, who held the post for more than six years, on July 1, according to a statement issued Thursday. © Bloomberg Evan Siddall
Photographer: Brent Lewin/Bloomberg
The leadership change came as AIMCo reported a total fund return of 2.5% last year, equal to C$3 billion ($2.4 billion) in net investment income. The tepid results, down from annualized total fund returns of 7.7% over 10 years, came after the company’s bet against market volatility early last year resulted in a loss of about C$2.1 billion at the time.