Alberta Investment Management Corporation (AIMCo) has named its interim chief executive officer, Ray Gilmour, to the position on a permanent basis.

Gilmour had been fulfilling the role since Nov. 8, 2024, when the Alberta government stepped in and made sweeping changes to AIMCo’s management and board.

"Over the past year, I have seen firsthand that the AIMCo team is talented and committed to excellence, and that it shares a deep sense of purpose to deliver long-term value for our clients," Gilmour said in the announcement. "I am proud to serve as AIMCo's CEO as we continue to grow and evolve in ways that enhance our ability to deliver for all of our stakeholders."

Gilmour had been Alberta's deputy minister of executive council for more than five years. He has also held senior Alberta government positions including deputy minister roles in finance, intergovernmental relations and infrastructure. 

Prior, Gilmour worked in the banking and financial services industry for 15 years. He has a masters of business administration from the University of Saskatchewan, is a VPA and a graduate of the Institute of Corporate Directors Program.

AIMCo held over $179.6 billion of assets under management as at Dec. 31, 2024.

Chartwell begins board renewal, adds CTO

Chartwell Retirement Residences (CSH-UN-T) is in the midst of a board renewal and succession plan with several new roles for its members, as well as an executive hiring. Over the next four years Huw Thomas, Brent Binions and Sharon Sallows expect to leave the board, and Gary Whitelaw expects to ascend to board chair.

As part of this strategy, Chartwell has appointed Rael Diamond to the Chartwell Master Care Corp. (CMCC) board. Diamond is president, CEO and trustee of Choice Properties REIT. He is a financial expert holding CPA and CA designations and has previous experience as a CFO of several large public real estate organizations.

James Scarlett and Ann Davis are stepping down as trustees of Chartwell and directors of CMCC.

Davis joined the board in 2017 and has been chair of the audit committee and a member of the compensation, governance and nominating committee. Scarlett has been on the board since 2019, contributing to the compensation, governance and nominating committee and the audit committee.

Alka Gautam will take over as audit committee chair. Gautam, a CPA, is a former CEO, CFO, CRO and COO of RGA Canada.

Gautam and Diamond will be appointed as trustees of Chartwell, in addition to being directors of CMCC.

Chartwell has also named Gordon Chiu as chief technology officer. He has been a senior executive at Chartwell for nearly a decade, and will join its senior executive committee providing oversight of technology, including systems, cybersecurity and artificial intelligence.

Prior to joining Chartwell, Chiu held senior leadership roles at Barrick Gold Corporation, Fujitsu Consulting, Cognicase/Personus Inc., and EDS Consulting, where he gained extensive experience in global IT strategy, digital transformation and operational excellence. 

Hammarlund accepts role at Ontario Teachers’

Ontario Teachers' Pension Plan Board has promoted Jenny Hammarlund to executive managing director, real estate, effective Jan. 5.  

Hammarlund will guide the real estate team's strategy, portfolio and asset management activities globally. She will be based in London and become a member of the investments senior leadership team, reporting to Gillian Brown, chief investment officer, public and private investments. 

She has over 20 years of experience in private equity, primarily focused on real estate acquisitions. Prior to this appointment, Hammarlund led the real estate investment group in the U.K. and Europe. She joined Cadillac Fairview (CF) in 2021 and moved to Ontario Teachers' in 2024 when the international real estate team at CF was absorbed by Ontario Teachers'.

She previously held senior real estate-focused roles at H.I.G. Capital, KKR, Värde Partners and Lehman Brothers.

Hammarlund holds a BA from the University of Sussex and an MBA from Columbia Business School.

Muallim pivots back to Choice

David Muallim has returned to Choice Properties (CHP-UN-T) as the REIT’s senior vice-president, leasing and operations after having left to spend four years at Loblaw Companies Ltd.

Muallim returned to Choice earlier this month after serving as vice-president, real estate at Loblaw, which is the REIT’s major shareholder.

Previously, he had spent approximately 11 years at Choice, and its predecessor Canadian Real Estate Trust, in a series of increasingly senior positions. He also spent over three years as a senior staff accountant at Ernst & Young before moving into the commercial real estate industry.

Muallim is a graduate of the Schulich School of Business at York University (bachelor of business administration, accounting and finance). He is a CFA charterholder and a chartered accountant.

Miceli becomes MD at Manulife

Michael Miceli recently expanded his role at Manulife, becoming managing director, corporate real estate, North American and Europe.

He had previously been assistant vice-president, managing director, corporate real estate for Canada. In the expanded role, Miceli is part of the leadership team handling project management, facilities and conference centre management, accounting and operations.

Miceli has spent over 13 years with Manulife.

He had previously spent time with Bridgepoint Group, Dardanus Group and in a number of other roles earlier in his career.

Miceli was the chair of BOMA Canada in 2009. He holds a bachelor degree in administrative studies, real estate and business, as well as an accounting/finance and computer science diploma.

Bugylo takes role with CFO in Toronto

Judy Bugylo has joined CFO Capital in Toronto as senior vice-president, business development.

Bugylo has experience across all commercial real estate asset classes with expertise in structured finance and the execution of complex transactions. She spent over 20 years with Citibank, where she specialized in commercial real estate lending, with a focus on structuring cross-border and international transactions for ultra-high-net-worth individuals.

Williams moved to Mattamy

Michon Williams has moved to Mattamy as the chief technology and information officer at Mattamy Homes and Mattamy Asset Management.

Williams was most recently the chief technology officer for Walmart Canada, and has over two decades of experience for a number of companies in Canada. She spent almost four-and-a-half years with Walmart. Previously, Williams was VP, information technology, Canada country lead for the TJX Companies and had spent 16 years with two Canadian banks in increasingly senior positions.

She holds a master of management analytics from Queen’s University, and an MBA in strategy, accounting (CPA/CMA curriculum) from the Schulich School of Business at York University.

MacIndoe retires from Dream Office REIT board

Karine MacIndoe is retiring from the Dream Office REIT (D-UN-T) board to focus on other ventures and commitments. MacIndoe joined Dream Office in 2015 and helped guide it through the execution of its strategic plan and the COVID-19 pandemic.