It’s a major reversal for the C$169 billion ($159.71 billion) money manager, which opened the Singapore office in 2023 and the New York location just last year.
Alberta Investment Management has decided to shutter its new offices in Singapore and New York as it retrenches from its global expansion plan.
The Canadian pension manager also parted ways with David Scudellari, its global head of private assets, and Kevin Bong, the executive who ran the Singapore office, a spokesperson confirmed. Peter Teti has been tapped as interim head of private assets.
