Alberta Names Interim CEO for Pension Manager, Seeking Cost Cuts
- Ray Gilmour takes role after Aimco board removed on Thursday
- Finance Minister is acting as chairman and sole director
This article is for subscribers only.
Alberta named a long-serving bureaucrat as interim chief of its public pension fund manager following the shock firing of the entire board and the CEO, as the provincial government tries to slash investment costs and dramatically increase the size of its sovereign wealth fund.
Ray Gilmour, who joined the public service in 2007 and is currently deputy minister of the executive council, will work to “stabilize operations and ensure smooth operations” at Alberta Investment Management Corp. while a permanent CEO is chosen, the government said in a statement Friday. Finance Minister Nate Horner is temporarily acting as Aimco’s chairman and sole director.