The Alternative Investment Management Association, the London-based hedge fund industry association, has unveiled its new council membership following the organisation's annual general meeting in London last week.
The changes include the election of three non-executive directors responsible for representing different regions of the world for a two-year term and the stepping down of Aima vice-chairman Dermot Butler, chairman of Custom House Administration, after six years.
The non-executive directors are Doug Shaw, managing director of proprietary alpha strategies at BlackRock Investment Management (UK), who represents Europe, Middle East and Africa, Sean Simon, co-president of Ivy Asset Management, representing the Americas, and Peter Douglas, principal of GFIA, representing the Asia-Pacific region.
The members have also appointed to the council for a one-year term Paul Sater, a UK financial services partner at Ernst & Young, and Christopher Fawcett, chief executive of Fauchier Partners as well as Aima's non-executive chairman for the past six years.
The organisation will appoint an independent non-executive chairman next year, but Fawcett will remain interim chairman until the new chairman is appointed. The council also includes three executive directors, Florence Lombard, deputy chief executive Andrew Baker and Emma Mugridge.
'The excellent calibre, deep experience and broad-ranging skills of the new council will enhance Aima's standing as the global voice of the hedge fund industry,' Baker says. Many retiring council members will continue to serve on the three new regional advisory committees.
'Aima and its members express their sincere gratitude to the outgoing council for devoting their time and expertise to Aima and the industry,' Lombard says. 'In particular, we thank Dermot Butler, who is stepping down from his post as Aima's deputy chairman, for his unwavering support over the past six years. His outstanding contribution has helped to make Aima the dynamic organisation that it is today.'
Aima has more than 1,280 corporate members in 47 countries including hedge fund managers, fund of hedge funds managers, prime brokers, providers of legal and accounting services and fund administrators.