Populist Who Decries Canada’s Elite Targets $520 Billion Pension

In the span of eight months, the pension manager for Canada’s wealthiest province fired its entire board, shuttered new offices in Singapore and New York and cut more than two dozen jobs.

If Premier Danielle Smith has her way, that’s just the start of sweeping changes for the C$180 billion ($131 billion) Alberta Investment Management Corp. — and perhaps Canada’s entire pension system.

The populist leader is seeking to overhaul how the oil-rich province handles its retirement savings and wealth, with a focus on slashing costs, curbing DEI initiatives, building up a homegrown fund and possibly reducing its exposure to ...