Permanent Fund Corp. board member resigns after email controversy

Ellie Rubenstein, personnel of nan Alaska Permanent Fund Corp. committee of trustees, is seen during a typical gathering connected Monday, Oct. 3, 2022, successful Juneau. (James Brooks/Alaska Beacon)

Ellie Rubenstein, nan finance head astatine nan halfway of an email leak affecting nan Alaska Permanent Fund Corp. committee of trustees, is resigning from her spot connected nan board, she said Wednesday.

In May, a bid of leaked emails suggested immoderate corp labor felt pressured by finance suggestions offered by Rubenstein. Those suggestions could correspond a conflict of interest, they said.

Following nan email leak, nan six-person committee — which governs nan $81 cardinal finance portfolio held by nan Alaska Permanent Fund — voted to analyse nan root of nan leak, and Rubenstein became chair of a governance committee charged pinch drafting rules that govern interactions betwixt unit and members of nan board.

In consequence to nan board’s actions, authorities lawmakers held a nationalist proceeding and questioned nan board’s guidance of nan corporation.

Rubenstein is 2 years into a four-year word connected nan board and said done a spokesperson that her activity connected nan committee takes a ample magnitude of clip and she needs to attraction connected her backstage equity company, Manna Tree.

“That’s nan impetus for resigning,” said nan spokesperson, Christopher Ullman.

Her resignation is effective Aug. 1.

Rubenstein’s determination besides comes soon aft Gov. Mike Dunleavy reappointed committee chair Ethan Schutt. One of nan leaked messages said Rubenstein had spoken to Dunleavy and that he did not intend to reappoint Schutt.

Asked whether nan timing of Rubenstein’s resignation was owed to nan leaked emails, nan reappointment aliases different factors, Ullman said, “Ellie has concluded that nan scope and gait of alteration basal to afloat institutionalize nan Permanent Fund are not compatible pinch nan demands of starring her backstage equity firm.”

While Rubenstein was a personnel of nan board, it re-established a prize programme for high-performing Permanent Fund employees, opened a arguable Anchorage office and raised nan fund’s target for backstage equity investments, which are not publically traded.