Ray Gilmour takes charge as interim CEO of AIMCo amid leadership shakeup
- Ray Gilmour has been appointed as interim CEO of AIMCo to steer the pension fund after a change in leadership.
- The province's Minister of Finance, Nate Horner, is temporarily supervising AIMCo's governance while a new board is set to be appointed.
- The leadership shakeup is aimed at addressing rising operational costs within Alberta Investment Management Corp.
The Government of Alberta appointed Ray Gilmour, a senior bureaucrat, as the interim chief executive officer of Alberta Investment Management Corp. (AIMCo) following the dismissal of its CEO and board members. This significant transition occurred recently, as the province aimed to restore stability to the $169-billion public-sector pension fund after managing complaints regarding rising costs related to investment management. Despite previous concerns about AIMCo's cost ratio rising, the government had not formally addressed these issues until now. Gilmour, who has extensive experience in the public sector and banking, is expected to manage operations until a new board is established within 30 days, with the province's Minister of Finance as acting chair in the interim.