Hedge fund industry body the Alternative Investment Management Association has announced the appointment of Todd Groome as its non-executive chairman together with the restructuring of its executive team.
 
Groome - currently advisor, monetary and capital markets department of the International Monetary Fund - joins Aima as non-executive chairman with effect from 1 January 2009.  
 
Groome has been responsible for multilateral surveillance activities and review of capital markets issues, focusing on structural issues, with a leading role on financial stability analysis and considerations for the IMF, including production of the fund's Global Financial Stability Report. 

Prior to this role, he has held senior positions at institutions in London, New York and Washington, DC including Deutsche Bank, Merrill Lynch and law firm Hogan & Hartson. 
 
Groome says: 'I am very honoured to have been invited to assume this role and contribute to the important work at Aima. It is an important period for the hedge fund industry regarding the regulatory and policy framework, and the industry's role as a mature and significant market participant.  I very much look forward to working with Andrew, Florence and the other Aima professionals, as well as the Council members and our counterparts at the Managed Funds Association and the Hedge Fund Standards Board.'
 
Andrew Baker is appointed to chief executive officer of Aima while Florence Lombard is appointed executive director to take on a new, international advocacy role for the industry.

Baker will take over the running of the association, will continue to hold responsibility for the Americas and EMEA activities of Aima, and will complement Lombard's policy activities - particularly in the UK. 

He also retains his ownership of all of the association's ongoing sound practices initiatives.