The Investment Management Corporation of Ontario (IMCO) has officially launched to manage the assets of its first two clients, the Workplace Safety Insurance Board (WSIB) and the Ontario Pension Board (OPB).
IMCO was established in 2016 and modelled after AIMCo and bcIMC.
Together the funds under management have a value of approximately $60B and are invested across a broad range of asset classes, including public equities, public debt, private equity, real estate, and infrastructure. IMCO’s mandate is to provide broader public-sector clients in Ontario with exceptional investment management services, including best-in-class advice around portfolio construction, efficient access to a diverse range of asset classes and superior reporting on risks and returns.
IMCO is a member-based non-share capital corporation. It operates independently of government, consistent with best practice in the public pension fund investment sector.
IMCO is led by President & COE Bert Clark who was hired in late 2016 has been working with the WSIB and OPB to build the organization. Other members of the senior management include Jill Pepall, EVP & Chief Investment Officer, Michael F. Campbell, EVP Investments and Chief Strategic Asset Allocation Officer, Michel J. Paradis, Chief Financial Officer, and Gayle Fisher, Chief Human Resources Officer and Head of Corporate Services.
IMCO board is chaired by David Leith, and includes Robert Betram, High G. MacKenzie, Colleen McMorrow, Jacqueline Moss, Vincenza Sera, and Eric Tripp.
IMCO anticipates and looks forward to working with additional broader public-sector clients once the integration of the assets and operations of the first two clients is complete.
“We look forward to working with our initial two clients and future clients in the coming years to provide them with value added investment services,” said Clark, CEO.
“This is an exciting day for the group of people who have been working hard over an extended period of time to make IMCO a reality. The Board is confident that IMCO will have a major impact on public fund management in Ontario,” said David Leith, Chair of the Board of Directors.
photo credit: Brent Connelly via pixabay
- Fairfax controlled Boat Rocker Media files for IPO on TSX - February 12, 2021
- DRI Healthcare Trust files for US $400M IPO and con-current private placement - February 10, 2021
- Fairfax controlled Farmers Edge files for $100M IPO on TSX - February 9, 2021