The Alternative Investment Management Association has launched a Cayman Islands Chapter and appointed Gordon McAra as Head of Communications.
The new Cayman Chapter has been described by AIMA as 'unique', having been formed both at the request of the industry and with the strong backing of the Cayman Island regulator, the Cayman Islands Monetary Authority and the Government's Portfolio of Finance & Economics.
Gary Linford, Head of Investment & Securities Division for the Cayman Islands Monetary Authority said: 'With the wealth of knowledge that sits in the Cayman Islands, this new AIMA Chapter will provide the ideal platform for the Cayman hedge fund industry to make a more public contribution to the global hedge fund debate'.
The Cayman Islands become AIMA's seventh Chapter worldwide - following Australia, Canada, Hong Kong, Japan, Singapore and South Africa. AIMA now has over 1000 corporate members in 46 countries. Chapters of AIMA are strategically positioned regional operations created by AIMA members. They are located in countries where there is a desire to apply the global objectives and initiatives of AIMA in a manner specifically tailored to the local market.
The Chairman and Executive that will lead the new AIMA Cayman Chapter for the next two years have also been announced:
Christopher Fawcett, Chairman of AIMA said: 'This is a notable and natural milestone, and a signal of AIMA's growing influence worldwide. Cayman is an integral part of the hedge fund industry, with the majority of hedge funds globally domiciled there'.
AIMA appoints Head of Comunications
Aima also announced this week that it has appointed Gordon McAra as its new Head of Communications.
Joining the Association from investment and pensions company Clerical Medical, where he was Head of Public Relations, McAra has a wide communications brief. The main focus will be to build on the growing understanding of the hedge fund industry as well as developing AIMA as the industry voice and demonstrating the importance of hedge funds to the global economy.
Commenting on the new appointment, Florence Lombard, Executive Director of AIMA said: 'Hedge funds have sometimes had difficult press coverage, often based on inaccurate information. By making this appointment we hope that we can bring clarity and education to the ongoing debates around the future of the hedge fund industry. This appointment of an experienced communications manager will add to the weight that AIMA can bring to the table to support the industry and also enhance our work with journalists and relevant publications'.