Alternative Investment Management Association
10 December 2008
The Alternative Investment Management Association (“AIMA”), the leading industry body for the global hedge fund industry, has today announced the appointment of Mr. Todd Groome - currently of the International Monetary Fund - as its non-Executive Chairman together with the restructuring of its Executive team.
Todd 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.
Mr. 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.
Mr. Groome enjoys a notable and exemplary reputation as an astute commentator and influence on the world’s financial markets, as well as the broad range of relationships that he enjoys with policymakers and other authorities around the world. He brings a wealth of knowledge and strategic abilities, which will enhance greatly our existing dialogue with national, international and supranational organisations.
Mr. Groome comments: “I am very honored 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. I wish to acknowledge and thank Christopher, who has provided very professional and important leadership at AIMA during the past six years as Chairman, and I very much look forward to working with him going forward.”
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.
In light of the market crisis and the impact this has had on the hedge fund industry, AIMA announced in October its intention to focus its resources more heavily on engaging with policymakers and regulatory authorities. This redefining of roles enables Mrs Lombard to focus her attention more fully on the pressing needs of policymakers around the world and to actively promote the industry’s position and concerns with governments and policy advisers internationally. She will continue with her responsibility for Asia-Pacific activities.
Mr. 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 Mrs. Lombard’s policy activities – particularly in the UK. He also retains his ownership of all of the Association’s ongoing sound practices initiatives.
Christopher Fawcett, AIMA’s outgoing Chairman of six years and continuing as a Council member, commented: “The hedge fund industry has found itself the scapegoat for many aspects of the market crisis. These opinions are often not fully informed. By making this commitment to secure and direct these most senior resources to engage with governments, regulators, investors, the media and the public, AIMA and its members are stating clearly their assertion that hedge funds are significant and responsible market participants within the financial system, that their benefits are numerous, positive and meaningful, and that they stand ready to participate in the revision and improvement of the world’s market regulation in a material and sophisticated manner.
We are delighted to have secured a Chairman of Todd’s calibre. I look forward to working with Todd as a continuing Member of the Council and offer him my fullest endorsement and support.”
Florence Lombard commented: “AIMA and its members express their most sincere gratitude to Christopher for the invaluable work he has done on the industry’s behalf during his six year tenure. He has demonstrated great leadership and commitment to our members and has proven to be a great ambassador for the industry.”
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1. About AIMA
As the global hedge fund association, AIMA, the Alternative Investment Management Association, has 1,280 corporate members worldwide, based in 47 countries.
Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.
AIMA is a dynamic organisation that reflects its membership’s interests and provides them with a vibrant global network. AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website www.aima.org
2. About Todd Groome
Mr. Groome was an Advisor on financial stability analysis and policy considerations in the Monetary and Capital Markets Department of the IMF. Mr. Groome was responsible for multilateral surveillance activities and review of capital markets issues in the mature financial markets, focusing on structural issues which may influence medium-term financial stability considerations. Mr. Groome has over 19 years of investment banking and legal experience related to financial institutions in the U.S., Europe, and the Asia-Pacific region.
Prior to returning to Washington D.C., Mr. Groome served as Managing Director and Head of the Financial Institutions Groups of Deutsche Bank and Credit Suisse in London, focusing primarily on debt capital markets and capital and balance sheet management. Prior to that, he worked with Merrill Lynch & Co. in London and New York as part of the Financial Institutions Group working in M&A, advisory, and debt and equity financing for banks and insurance companies. Before moving to London in 1989, Mr. Groome worked as an attorney with Hogan & Hartson in Washington, D.C., focusing primarily on bank regulatory issues, and merger and capital raising activities for banks and savings institutions.
Mr. Groome received a law degree from University of Virginia School of Law, and graduated summa cum laude with a Bachelor of Arts in economics from Randolph-Macon College. Mr. Groome also received a Masters in Business Administration from the London Business School.
3. About Florence Lombard
Florence has been running AIMA since January 1993. Originally from the hedge fund industry, she was a Founding Member of the association created in September 1990 and was appointed to the Council of the Association in August 2002.
Florence oversees the development and implementation of projects in the areas of international policy and government affairs as well as having responsibility for the co-ordination of all Asian activities. She was an Observer and active participant on the EC Alternative Investments Expert Group (2006).
Florence is on the board of the Chartered Alternative Investment Analyst Association, that offers the CAIA qualification, a not-for-profit joint venture between AIMA and the CISDM / University of Massachusetts.
4. About Andrew Baker
Andrew Baker joined AIMA in August 2007. Andrew has been closely involved with all of AIMA’s work in the area of sound practices and in particular served as AIMA’s representative on the Hedge Fund Working Group. He is also responsible for AIMA’s collaboration with the Managed Funds Association in the United States and is leading the project on harmonization of global hedge fund practices.
Most recently before joining AIMA he spent six years at Schroder Investment Management in London where he was COO - Alternative Investments.
Prior to this he spent 15 years managing institutional money at UBS, HD International and Rothschilds. This period included a two year secondment at the Bank of Papua New Guinea in Port Moresby.
Andrew has a degree in Mathematics from Imperial College, London University and is married with three children.