A group of Canadian business leaders, including Wealthsimple CEO Michael Katchen, Alberta Investment Management Corporation CEO Evan Siddall and Purpose Unlimited CEO Som Seif, are leading a campaign to encourage companies to divest from Russia. (The Logic)

Talking point: The group, which says it collectively manages more than $200 billion in assets, published a web page Tuesday calling on Canada’s business sector to follow its lead in selling holdings of Russian companies. Meanwhile, a larger group of business leaders also took out an ad in The Globe and Mail on Tuesday, pledging in an open letter to cut ties with Russia and urging Canada’s government to impose further sanctions. Harsh economic penalties and public condemnation of Russia’s invasion of Ukraine have sparked a widespread movement in the West to avoid business dealings in the country. Among the companies that have said they will sell Russian holdings are Norway’s sovereign wealth fund and the oil giant BP. Purpose’s chief operating officer Vlad Tasevski told The Logic that the company sold all assets with exposure to Russia on Monday, amounting to a small portion of two Purpose funds.