{"id":353026,"date":"2025-12-16T23:56:08","date_gmt":"2025-12-16T23:56:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/353026\/"},"modified":"2025-12-16T23:56:08","modified_gmt":"2025-12-16T23:56:08","slug":"aimco-names-ray-gilmour-as-permanent-ceo","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/353026\/","title":{"rendered":"AIMCo names Ray Gilmour as permanent CEO"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

A view of the Peace Bridge in Calgary. AIMCo invests retirement savings for pension, endowment, insurance and government clients in Alberta.Amir Salehi \/The Globe and Mail<\/p>\n

Alberta Investment Management Corp. has made Ray Gilmour its permanent chief executive officer, removing the interim tag from the job he took more than a year ago when the province overhauled the pension fund manager\u2019s senior ranks. <\/p>\n

AIMCo\u2019s board of directors appointed Mr. Gilmour as CEO effective immediately, according to an announcement released on Tuesday. His performance had been reviewed by a third party. <\/p>\n

Mr. Gilmour was an unconventional choice to lead the $179.6-billion public-sector pension fund manager, which invests retirement savings for pension, endowment, insurance and government clients in Alberta. <\/p>\n

Open this photo in gallery:<\/a><\/p>\n

Ray Gilmour was appointed AIMCo’s interim CEO in November, 2024.Supplied<\/p>\n

He was hand-picked by the provincial government to serve as interim CEO in November, 2024, after Finance Minister Nate Horner dismissed AIMCo\u2019s board of directors<\/a>, previous CEO Evan Siddall and other top executives. <\/p>\n

Since then, Mr. Gilmour has helped steady AIMCo after a period of tumultuous change<\/a>, and revamped the pension fund manager\u2019s senior executive team. That included promoting Justin Lord<\/a> to chief investment officer earlier this year. <\/p>\n

In the first six months of 2025, AIMCo earned a 2-per-cent return<\/a> on its investments during a volatile start to the year for markets, which were unsettled by shifting tariff policies.<\/p>\n

\u201cThe board has complete confidence in Ray\u2019s clear management expertise and proven ability to excel, both as leader of this organization and as an effective steward of the funds AIMCo manages on behalf of its clients,\u201d board chair Stephen Harper said in a news release. <\/p>\n

AIMCo\u2019s board hired \u201can independent third-party organization to conduct a comprehensive review of Ray\u2019s performance during his tenure as Interim CEO, including interviews with key stakeholders such as clients, members of the Executive Committee, and others across AIMCo,\u201d spokesperson Sabrina Bhangoo said in an e-mail. <\/p>\n

Mr. Gilmour has deep experience as a public servant. He held senior roles under several Alberta premiers, including a five-year stint as deputy minister of the province\u2019s executive council and also a deputy role in its finance department. He spent an earlier part of his career in the banking industry. <\/p>\n

But he arrived to lead AIMCo without the senior-level experience in investing and finance that would by typical for the CEO of a major pension fund manager. And his appointment, combined with the province\u2019s decision to appoint the province\u2019s deputy finance minister as a permanent member<\/a> of AIMCo\u2019s board, raised questions about whether the arm\u2019s length pension fund manager was being drawn closer to government. <\/p>\n

In a letter<\/a> published by the province last summer, Mr. Horner laid out a \u201crenewed mandate\u201d<\/a> for AIMCo, affirming that it \u201cwill operate independently and at arm\u2019s length from the Government of Alberta.\u201d<\/p>\n

From the outset, people close to AIMCo and the Alberta government expected Mr. Gilmour to stay put<\/a>, serving as a steady hand with a mandate to keep costs under control and boost satisfaction among pension plan clients. <\/p>\n

\u201cOver the past year, I have seen firsthand that the AIMCo team is talented and committed to excellence, and that it shares a deep sense of purpose to deliver long-term value for our clients,\u201d Mr. Gilmour said in a statement. <\/p>\n

Since Mr. Gilmour started at AIMCo, former private equity head Peter Teti was named global head of private assets. The pension fund manager also hired John Walsh as chief legal officer and promoted Janice Guzzo to chief human resources officer earlier this year.<\/p>\n

Three board members who were previously dismissed by the province returned to form a smaller, revamped board chaired by Mr. Harper: private-equity executive Jason Montemurro, real estate investor Bob Dhillon and former Healthcare of Ontario Pension Plan CEO Jim Keohane. AIMCo also added its former CIO Sandra Lau<\/a> to the board.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: A view of the Peace Bridge in Calgary. AIMCo invests retirement savings for…\n","protected":false},"author":2,"featured_media":353027,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[28,147,530,113163],"class_list":{"0":"post-353026","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-personal-finance","10":"tag-personalfinance","11":"tag-streetwise"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/353026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=353026"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/353026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/353027"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=353026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=353026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=353026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}