The entire board of Alberta Investment Management Corporation (AIMCo) was dismissed with finance minster Nate Horner taking the chair role on a board for which he, for now, is the sole director. He later told reporters that this was not a knee-jerk reaction but followed concerns for some time.

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 province says the move comes "after years of AIMCo consistently failing to meet its mandated benchmark returns." For now, Finance Minister Nate Horner has been appointed the AIMCo board's sole director and chair.

The Alberta government has made a sudden decision to dismiss the entire board and CEO of the Alberta Investment Management Corp. (AIMCo). This comes at a time when several of the pension fund’s clients are expressing dissatisfaction with its performance.

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.

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.

The provincial government has removed the entire board of the Alberta Investment Management Corporation (AIMCo).In an statement Thursday afternoon, the province said it has decided to "reset" the focus of the provincial corporation,

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.