I look back on the cadre of individuals that have made ATCO what it is today. It’s not just one person. It’s not just me. It wasn’t just my dad. It was the belief that we could do something important with purpose, we could make life better for the people who we serve, the people who work in our company, and the people who we touch in the communities that we serve: our customers.
Canadian business leader, national athlete, community builder and philanthropist, Nancy Southern of Calgary is the visionary Chair and CEO of ATCO Ltd. and Canadian Utilities Limited. She is a prominent and influential leader whose contributions reach far beyond the world of commerce as she leads by example on social and community issues.
Nancy Christine Southern was born in Calgary on August 27, 1956, to Ron (AOE 2012) and Margaret (AOE 1988) Southern. Both families have a long history in Alberta, with Ron’s parents immigrating from England (1913) and Scotland (1911), while Margaret’s parents came to the province from Holland (1913) and Manitoba (1913).
Growing up, Nancy and her younger sister Linda shared their mother’s interest in equestrian sports; however, there were no adequate facilities nearby, so they had to travel afar to take part in competitions. Recognizing the need for Western Canadian equestrian athletes to have a training facility closer to home, Margaret and Ron built Spruce Meadows in 1975, which is now the world’s premier venue for show jumping. Spruce Meadows will celebrate its 50th anniversary in 2025, marking 50 years of developing many top international athletes. As Nancy’s skill grew, she joined the Canadian Equestrian Team from 1975-1982. While on the team, she met fellow equestrian Jonathan Asselin. They married in 1992.
Nancy was also deeply involved in the business side of the facility. “Spruce Meadows was really good to me in terms of honing my business experience, everything from sales and marketing to logistics and management. I know that it was the best grounding as a businessperson that I could have had,” she says. Nancy now serves as Spruce Meadows’ Executive Vice President and Co-Chair of Tournaments, while Linda leads as President and CEO.
At the same time, Nancy attended Mount Royal College and the University of Calgary where she studied economics and commerce. One of her university professors, Dr. Robert Mansell, became an important mentor to Nancy both in her life and her career.
With both practical and theoretical experience in economics and commerce under her belt, the next step was to learn the ropes at ATCO, founded by Ron in 1947. One of Alberta’s great business success stories, “the little trailer company that could” unlocked a “quantum of economic efficiency by manufacturing and installing modular workforce housing for major infrastructure and resource projects, creating a whole new-to-the-world industry,” she says.
After joining the ATCO Board of Directors in 1989, Nancy served as Co-Chair for 16 years prior to being elected Chair in 2012. She was named President and CEO in 2003, giving her full responsibility for executing the strategic direction for ATCO, its affiliate Canadian Utilities, and the entire ATCO Group and its ongoing operations – all 18 companies under the ATCO umbrella. She provides strategic direction to more than 7,000 employees around the world, including 5,500 who live, work and volunteer in the more than 350 Alberta communities that ATCO serves.
With the support of her team, Nancy has advanced Alberta’s global profile by spearheading ATCO’s growth in new markets. She led the acquisition of WA Gas Networks in Western Australia in 2011; re-entered Chile in 2016; oversaw the acquisition of a 40 per cent stake in Neltume Ports, a leading port operator and developer in South America, in 2018; and guided ATCO’s successful bid to transform and operate Puerto Rico’s electric grid with the creation of LUMA Energy in 2020. Nancy is quick to credit the people of ATCO for these accomplishments. “I am so proud of the team at ATCO for their leadership and commitment to excellence,” she says.
Under her leadership, the people of ATCO have responded to several of the most devastating natural disasters in Alberta’s history, including the 2013 Southern Alberta floods, 2016 Fort McMurray wildfires, the province’s record-breaking 2023 wildfire season, and the 2024 Jasper wildfire. Each crisis involved mobilizing hundreds of ATCO employees for critical infrastructure support and deploying modular housing for workers and displaced residents alike.
Closer to home, ATCO’s head office campus is almost entirely (98 per cent) constructed using Alberta materials, products and tradespeople. Those were Nancy’s instructions: to ensure that Albertans received the maximum benefits from the project.
ATCO’s long-standing commitment to the Canadian Armed Forces and its veterans has flourished under Nancy’s leadership, providing military camps, military logistics and operational support. She spearheaded the company’s involvement in the Homes for Heroes project, which saw ATCO build tiny-home villages for veterans struggling to reintegrate into civilian life. And she is the driving force behind robust support for the Invictus Games. ATCO has been a leading employer of reservists in Alberta for many years, and members of Lord Strathcona’s Horse (Royal Canadians) experiencing PTSD train at Spruce Meadows as part of their rehabilitation. “It’s important for us – all Canadians – to demonstrate our respect and our appreciation for their service to our country and the sacrifices that they make on our behalf,” she says.
Nancy is unswerving in her support for women in business in Alberta and outside the province. ATCO and Canadian Utilities’ boards boast significantly higher percentages of women than average TSX-listed companies. Meanwhile, ATCO supports Women + Power, a community developed to help women in Alberta’s power industry succeed professionally and personally. In 2015, at the request of then chancellor Angela Merkel of Germany, Nancy joined 100 other global leaders for the G7 Forum for Dialogue with Women. “We still need to do a lot of work to mentor and create career paths that will allow young women leaders to take over from their female and male counterparts,” says Nancy.
Nancy is proud to continue her father’s commitment to fairness – to recognizing diversity, equity and inclusion, and embracing environmental, social and good governance practices. “He recognized that Indigenous partnerships – relationships with your neighbors – are so vitally important,” she says.
Through respectful partnerships with Indigenous communities, the team at ATCO is showing the rest of Canada how economic reconciliation can be done, with benefits that will be enjoyed for many years to come. Nancy has overseen the growth of nearly 50 Indigenous partnerships with communities across Canada, including dozens in Alberta. “I’m so proud that we deliver close to $150 million in true economic benefit to those partnerships on an annual basis,” she says.
Nancy was made an Honorary Chief by the Kainai (Blood Tribe of Alberta) during a traditional ceremony in 2012 and given the name Aksistoowa’paakii (Brave Woman). She was recognized for her spirit of entrepreneurship and work to build mutually beneficial relationships with Indigenous communities. “The Kainai chieftainship touched my soul. It was a very spiritual ceremony, and it has meant so much to me. I believe the recognition has also made a significant difference in how I relate to Indigenous communities.”
Boards upon which Nancy has served include Shell Canada, Bank of Montreal, BMO Financial, South Australia Minerals and Petroleum Export Group, American Society of Corporate Executives, U.S. Business Council, Canadian Business Council and Rideau Hall Foundation. She actively serves as a Canadian member of the Trilateral Commission.
In 2020, Her Majesty Queen Elizabeth II presented Nancy with the British Empire Medal (BEM) for services to British equestrian, military and commercial interests in Alberta. Nancy also received the Queen Elizabeth II’s Platinum Jubilee Medal (Alberta). She holds honorary Doctor of Laws degrees from Mount Royal University (2023), University of Lethbridge (2022), Western University (2017) and University of Calgary (2014).
Multiple institutions have recognized Nancy’s achievements and contributions. She was named Energy Person of the Year by the Energy Council of Canada in 2023. That same year, she received the Lifetime Business Achievement in the Americas Award from the Canadian Council for the Americas. In 2022, the Canadian Chamber of Commerce honoured her with the Canadian Business Leader Lifetime Achievement Award.
Nancy and Jonathan live near Spruce Meadows, where they run Attaché Stables. They are grateful that their family – Kelly, Kyle and Ben, and especially granddaughter Olivia – continue to live in the Calgary area.
“My most important role as ATCO CEO has been to keep the sense of family, the values of caring for each other, striving for excellence, paying attention to the smallest detail, and doing more than others expect of you,” says Nancy.