The appointments of 10 members of the AIMCo board of directors were rescinded in an order-in-council Thursday. The same order-in-council appointed Finance Minister Nate Horner as the board's chair for a term to expire Sept. 30, 2025. AIMCo CEO Evan ...

Longtime Alberta bureaucrat Ray Gilmour has been appointed interim leader of the Alberta Investment Management Corporation, the Crown agency set up to manage public pensions and investments at arm's-length from government.

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.

Ray Gilmour was appointed by the government of Alberta, Canada, as the interim CEO of the C$168.9 billion ($121 billion) Alberta Investment Management Corp., Edmonton. On Nov. 7, the Alberta government of Premier Danielle Smith dismissed the entire 10-member board of AIMCo, citing underperformance issues and rising costs.

Alberta Investment Management Corp.’s chief executive officer and entire board were sacked by the provincial government, which said the money manager has increased compensation and staff but hasn’t produced acceptable returns.

The provincial government of Alberta, Canada, has terminated the entire board of the C$168.9 billion ($124.5 billion) Alberta Investment Management Corp., Edmonton, citing underperformance issues and rising costs.