The provincial government has removed the entire board of the Alberta Investment Management Corporation (AIMCo), saying its ballooning costs demand intervention. In a statement Thursday afternoon, the province announced it will "reset" the focus of the ...

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.

This is also the third board to be fired in its entirety by the UCP government, following Smith’s firing of the Alberta Health Services board in 2022 and the firing of the Banff Centre for Arts and Creativity board last year.

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.