This is your daily pension announcement. The Pension War Room™️ realizes this might be TL:dr, but you are interested who Travis appointed to the AIMCO Board then read the following. Mr. Kelly was born in Canada but has lived in NY for years and years.
money.cnn.com/2011/11/18/new…
I am not even sure if he is still a Canadian citizen. He left Wachovia (as CFO) just before the financial crisis. Wachovia, of course, imploded during the crisis and shareholder's equity was wiped out. Shareholders included some large pension funds. #ABLeg
Travis consulted none of the AIMCO clients that make up the majority of their business. He keeps acting like the Heritage Fund, in its withered state, is the whale at AIMCO. I am including the article above because Travis likely didn't share a ton of info with his peers. #ABLeg
Kevin is the real winner here. He gets a guy on the Board who once asked for (and nearly got) $20 million per year during the financial crisis while the bank was being bailed out by the US Gov.
So Kevin's $2.8 million pay from last year must seem like chump change. #ABLeg
I have no problem paying people for performance in institutional investing. The problem with the industry is it often pays large amounts of money for sub-par or mediocre performance. #AbLeg
Billions of dollars invested on our behalf and it seems there is little oversight
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