The Alberta Investment Management Corp. is preventing its staff from travelling to the U.S. for non-essential business trips, according to a report by Bloomberg.
The report noted AIMCo employees can still travel to the U.S. for board and investor meetings but conferences or speaking events aren’t allowed anymore. When asked by Benefits Canada to confirm the details of the Bloomberg report, the AIMCo declined to comment.
Read: Alberta government fires AIMCo CEO, board, citing rising costs and poor performance
The decision comes at a time when U.S. President Donald Trump has repeatedly said he wants to annex Canada as the 51st state and, as part of this strategy, Trump has escalated a trade war with Canada through strict tariff policy.
The AIMCo recently reported its total assets under management assets grew to $179.6 billion in 2024. Last November, the investment organization restructured is management team by dismissing chief executive officer Evan Siddall and appointing Ray Gilmour in the interim instead. Former Canadian Prime Minister Stephen Harper was appointed as chairman at the AIMCo.