The board of directors of the Alberta Investment Management Corporation has confirmed Ray Gilmour as the organization’s new chief executive officer, formalizing a role he has held on an interim basis for the past year.

AIMCo oversees more than $179 billion in assets, managing pension and investment funds on behalf of public sector workers and government entities across Alberta. Its portfolio includes retirement savings for teachers, health care workers and other public employees, making its leadership decisions significant for thousands of Albertans.

Gilmour stepped into the interim CEO role last November following a major governance shakeup, when Alberta Finance Minister Nate Horner dismissed AIMCo’s previous chief executive along with the corporation’s entire board. The move came amid broader concerns about performance, oversight and accountability at the Crown investment manager.

Before joining AIMCo’s executive leadership, Gilmour built a career spanning roughly 15 years in banking and financial services, experience the board says positions him to guide the organization through a period of stability and renewed focus.

The appointment comes as AIMCo continues efforts to rebuild confidence with pension contributors and stakeholders, while navigating market volatility and ongoing scrutiny of its investment strategies and governance practices.