Nov 26, 2024, 12:13 AM
Nov 26, 2024, 12:13 AM

Ray Gilmour steps up as interim CEO to steer AIMCo in turbulent times

Highlights
  • AIMCo is experiencing leadership transitions, including the appointment of Ray Gilmour as interim CEO after recent management upheaval.
  • The Alberta government has expressed a desire for a shift in AIMCo's operational direction to improve performance and costs.
  • Ray Gilmour is expected to play a critical role in implementing changes and has potential for a permanent position.
Story

In Alberta, Canada, the $169-billion public-sector pension fund manager, AIMCo, is undergoing significant management shifts following recent staff upheaval. Ray Gilmour was appointed as the interim chief executive officer shortly after a major overhaul of AIMCo's leadership prompted by rising costs and underwhelming performance. Previous CIO Marlene Puffer left the organization, leading to a vacancy that Gilmour is expected to address by hiring a new CIO and chief of staff. Despite the interim title, government officials indicate that Gilmour may have the opportunity to prove himself in a more permanent leadership role, as the province seeks a fresh direction for AIMCo's management, including plans to revise the Heritage Savings Trust Fund's management strategy.

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