Prime Minister Mark Carney has named investment executive Karen Karniol-Tambour as the first chief executive of the Canada Strong Fund, Canada’s planned sovereign wealth fund.

The Prime Minister’s Office announced the appointment Nov. 9, according to reporting by Craig Lord of The Canadian Press published by Global News. Karniol-Tambour is co-chief investment officer at U.S.-based Bridgewater Associates, one of the world’s largest asset managers.

A biography supplied by the prime minister’s office identifies her as a Canadian citizen and says Barron’s has included her among the 100 most influential women in U.S. finance for seven consecutive years.

The Canada Strong Fund will operate at arm’s length from the government and have its own independent board of directors, the prime minister’s office said.

Carney unveiled plans for the fund last spring, announcing an initial capital commitment of $25 billion. The proposed fund also includes a retail component intended to allow individual Canadians to invest and potentially share in its returns.

Sources