HFSB's Borges To Lead IMF In Europe

Oct 27 2010 | 10:02am ET

The International Monetary Fund has named the head of Europe's voluntary hedge fund industry watchdog as its new European chief.

Antonio Borges will lead the IMF's European Department. He joins the intergovernmental organization in November to succeed Marek Belka, who is now governor of the Central Bank of Poland.

Borges is currently chairman of the Hedge Fund Standards Board, the group set up by 14 top European hedge funds two years ago to promulgate a voluntary code of conduct of the industry. His exit coincides with the impending passage of the European Union's controversial hedge fund and private equity regulations.

"Mr. Borges brings a remarkable combination of public sector, private sector, and academic experience, and has proven strategic and organizational leadership skills," Dominque Strauss-Kahn, managing director of the IMF, said. "He is ideally suited to take charge of the Fund's work in Europe at this critical time."

Borges served as vice chairman of Goldman Sachs International before joining the HFSB. He is also a former vice governor of the Banco de Portugal and dean of the business school Insead.

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