Prime Minister Mark Carney has recruited another global investment executive to his government, this time to helm Canada’s first sovereign wealth fund.
The Prime Minister’s Office announced today that Karen Karniol-Tambour will be the inaugural chief executive of the Canada Strong Fund.
Karniol-Tambour is the co-chief investment officer at U.S.-based Bridgewater Associates, one of the world’s largest asset managers.
A biography provided by Carney’s office says Karniol-Tambour is a Canadian citizen who has been named one of the 100 most influential women in U.S. finance for seven years running by the financial magazine Barron’s.
The Prime Minister’s Office says the Canada Strong Fund will be run at arm’s-length from government with its own independent board of directors.
Carney unveiled plans for the sovereign wealth fund last spring with an announcement of an initial capital commitment of $25 billion and a retail component that lets individual Canadians invest and potentially share in the fund’s returns.
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