A buddy of mine told me that Leo de Bever was coming back to Canada to head up the $75 billion Alberta Investment Management Corporation (AIMCo). According to this press release, he starts his new job in this month.
Mr. de Bever joins AIMCo after spending the last year and a half in Australia heading up the Victorian Funds Management Corporation (VFMC), a $41 billion superannuation fund. Before joining VFMC, he spent two years as executive vice-president of global investment management with Manulife Financial, a leading Canadian-based insurer. Before this, he spent 10 years at the Ontario Teachers' Pension Plan (OTPP) where he was responsible for long term investment strategy, risk management and real return assets, including inflation indexed bonds, infrastructure, timberland and commodities. Prior to that, he spent five years at the Bank of Canada. Mr. de Bever holds a PhD in Economics from the University of Wisconsin.
There are only a handful of people I ever met in the investment world that made a strong impression on me and he ranks right up there.
I met him a couple of years ago before he left for Australia and I got to chat with him for about an hour one on one prior to his meeting.
The first thing that struck me is his intellectual depth. He is a prolific reader and it shows. At the time he was reading a book on shipping freight rates and he was explaining in intricate detail the fundamentals that drive these rates. It was quite fascinating and I sensed his passion for the subject. In fact, I got the sense I was speaking with a thinker who is constantly thinking ahead to see where the world is heading.
The second thing that struck me was his humility. The investment management world is full of insecure, incompetent, unscrupulous and arrogant jerks who give new meaning to the old Peter Principle. This does not apply to Mr. de Bever. He is someone who got to where he is based purely on hard work, brains and merit and he is open to discussing different points of view.
You can listen to a recent BNN interview with Leo de Bever by clicking here. Importantly, pay attention to where he thinks the opportunities lie in the next ten years (hint: it isn't in traditional private equity, infrastructure and real estate).
As you watch this interview, you will get a little sense of why I believe that AIMCo is very lucky to have him as their new CEO.
This blog was created to share my unique insights on pensions and investments. The success of the blog is due to the high volume of readers and excellent insights shared by senior pension fund managers and other experts. Institutional and retail investors are kindly requested to support my efforts by donating or subscribing via PayPal below. to get latest updates, even during the day, click on the image of the big piggy bank at the top of the blog. For all inquiries, please contact me at LKolivakis@gmail.com.
I am an independent senior economist and pension and investment analyst with years of experience working on the buy and sell-side. I have researched and invested in traditional and alternative asset classes at two of the largest public pension funds in Canada, the Caisse de dépôt et placement du Québec (Caisse) and the Public Sector Pension Investment Board (PSP Investments). I've also consulted the Treasury Board Secretariat of Canada on the governance of the Federal Public Service Pension Plan (2007) and been invited to speak at the Standing Committee on Finance (2009) and the Senate Standing Committee on Banking, Commerce and Trade (2010) to discuss Canada's pension system. You can follow my blog posts on your Bloomberg terminal and track me on Twitter (@PensionPulse) where I post many links to pension and investment articles as well as my market thoughts and other articles of interest.
I'd like to thank all of you who support this blog, I truly appreciate it. Institutional investors can subscribe using one of the three options below (contact me for details). Anyone else can contribute any amount at any time through the "donate" button (a tip). Please take the time to show your financial support for the work that goes into this blog. Thank you!
As you scroll down the right-hand side, you will first see links to pension news, a guide to the basics, my blog archive, popular posts and comprehensive links to Canadian and global funds, government organizations, institutional organizations, advisors and vendors, broker dealers & investment banks, documents to pension plan governance, assets and liabilities, links to conferences, geopolitical news, market and industry research and my blog roll. All links are listed in alphabetical order.
I've also included links to worthy charities and resources to fight Multiple Sclerosis.
Readers can subscribe to my posts entering their email at the top of the right hand side. They can also search my blog using any key word in the custom search at the top of the page.
Finally, take the time to read my disclaimer at the bottom and always remember there is no free lunch on Wall Street.Always be skeptical of everything you read, including comments from yours truly!
FINANCIAL REPRESSION AUTHORITY - Pension Pulse Talks Pensions and Inequality
Pension Pulse is a collection of my thoughts pertaining to issues on pension funds and financial markets. The information and opinions contained on this site are merely guidelines. This site does not guarantee any monetary claims by following these recommendations. This website is not liable for any loss that you incur due to these programs, nor do we ask for any monetary gains from your success of using these recommendations.
We also do not guarantee the results of any products or recommendations listed on this site. You must do your own due diligence before investing in any product.