Swiss-based alternative asset manager Insch Capital Management, which specialises in the currency markets, has appointed former Man International chairman David Anderson as its non-executive chairman.
Over the last year, Insch says, it has experienced substantial growth in its primary investment management business of and established various new but related activities. With the entry into force last month of the European Union's Markets in Financial Instruments Directive, the firm believes that the regulatory environment will be a key factor in the future expansion.
'To become a global investment management business it is crucial that we develop our regulatory relationships with the utmost probity, so we are adding to our strengths in this area,' says chief executive Christopher Cruden.
'Having being instrumental in the implementation of the Financial Services and Markets Act in the UK, David Anderson has a unique perspective to aid the company in this area of our business.'
Anderson's career began in the early 1970s when he launched one of the first independent futures brokers in London and developed the use of futures and options in investment management.
Subsequently he established, with ED&F Man, the futures broking, stockbroking and investment management firm then known as Man International, which as Man Investments now has more than USD65bn in assets under management.
Throughout his career Anderson has been closely involved in the development of the futures trading industry in London. He was the founder chairman of the Association for Futures and Options and is a member of the Securities Institute.
A past chairman of the formation committee of the International Petroleum Exchange, Anderson was also vice-chairman of the London Commodity Exchange, and as a director of the Securities and Investments Board played a key role in implementing the Financial Services Act 1986.
'The management of Insch have a clear strategy on where they want to take it, and this will require not only the dedication and effort required to build the business further, but a clear and focused relationship and policy with the regulators with which the company deals,' Anderson says. 'Insch already has the building blocks of a company that could be a major industry player.'
Adds Cruden: 'First and foremost we aim to build on our strengths, which means making money for clients and investors with a range of understandable absolute return investment products. These will be packaged in transparent and liquid structures and distributed through professional and properly qualified networks.'