By Josh Hall | @Vancan19

Ray Gilmour

AIMCo gets new CEO day after board firings

Nov 8, 2024 | 5:17 PM

The Alberta government has announced a new CEO for AIMCo, a day after it sacked the body’s entire board.

AIMCo is the body that manages more than $160 billion in pension, endowment and government funds for the province.

They also announced yesterday that Nate Horner, Alberta’s finance minister, would be the body’s sole director and chair.

But on Tuesday, they shared that Ray Gilmour has been appointed CEO.

Gilmour is the deputy minister of the executive council, and has been the most senior public servant in the Government of Alberta for more than five years. He has also worked in Executive Council under multiple administrations.

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“Ray has been the most trusted official in the province under three premiers,” says Horner. “I have complete confidence in his ability to get costs at AIMCo under control and restore stability to the corporation.”

Prior to his time in government, Gilmour worked for fifteen years in the banking and financial services industry.

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READ MORE: Alberta fires AIMCo board and CEO, NDP responds

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Meantime, the Alberta Teachers’ Association has issued a statement regarding the board’s firing.

“Despite the firing of the AIMCo board, Alberta teachers can be confident that their pensions, administered through the Alberta Teachers’ Retirement Fund (ATRF), remain secure and their plan well funded,” says Jason Schilling, association president.

“The Alberta Teachers’ Association is monitoring developments closely and will be ready to step in to defend the interests of active and retired teachers.”

Schillings adds that the association disapproved of the government-mandated transferring of teacher pension assets to AIMCo in 2020, and remains concerned about what it calls the, “politicization of pension policy.”