Andrew Baker, chief executive officer of the Alternative Investment Management Association (AIMA), the hedge fund industry association, is to stand down at the end of 2013.
AIMA is in the process of identifying a successor for Baker, who has been CEO since the beginning of 2009, having previously been deputy CEO since 2007.
“The last five years have been an extraordinary and extremely challenging period for the industry,” says Baker (pictured). “I am glad to say that thanks to the efforts of our members, our directors and our staff, AIMA has come through this period greatly strengthened. We have significantly expanded our activities on behalf of the industry globally, particularly in the fields of regulatory, press and investor engagement, and are in robust financial and organisational health. We have also grown substantially the range of services we provide to our members, and our continued growth in membership since the crisis is, I believe, a testament to the effectiveness of our work for the industry.
“It has been a fantastic honour to work with our first-rate staff in the interests of our loyal members, many of whom volunteer significant amounts of their own time to our work. I would also like to pay tribute to AIMA’s Council which has provided excellent counsel and strategic guidance over the years. I am looking forward to future challenges but I know that the organisation is well-equipped for the future.”
Kathleen Casey, AIMA chairman, says: “The effectiveness of AIMA as a global organisation and its positive influence on international regulatory affairs is a tribute to Andrew's tenure as CEO. In particular, his strong leadership during one of the most tumultuous times facing our financial markets worked to further underscore AIMA’s role and reputation as an expert voice and effective advocate for the industry. We on Council and the staff, volunteers and members of the association will be sad to lose him but wish him every success in the future.”
To ensure continuity, Baker will remain in the role as CEO until his successor has started.