Wednesday, 31 August 2016
Last updated 1 hour ago
Jun 12 2013 | 9:40am ET
Alternative Investment Management Association CEO Andrew Baker has spent substantially all of his four-year tenure dealing with the threat of new hedge fund regulations. And he'll close it out in the wake of the implementation of one of them.
Baker, who has led AIMA since 2009, will step down at the end of the year. European regulators are in the process of implementing the European Union's Alternative Investment Fund Management Directive.
AIMA has begun the search for a successor and Baker will remain in the post until one is found.
"The last five years have been an extraordinary and extremely challenging period for the industry," Baker said. "I am glad to say that thanks to the efforts of our members, our directors and our staff, AIMA has come through this period greatly strengthened. We have significantly expanded our activities on behalf of the industry globally, particularly in the fields of regulatory, press and investor engagement, and are in robust financial and organisational health. We have also grown substantially the range of services we provide to our members, and our continued growth in membership since the crisis is, I believe, a testament to the effectiveness of our work for the industry."
Baker was AIMA's deputy CEO before taking the top job. A former chief operating officer of Schroders' alternative investments unit, Baker also formerly worked at Gartmore Group and UBS Asset Management.