The Hedge Fund Standards Board, a voluntary watchdog for the industry set up by 14 European firms, now has a face to go along with its voluntary compliance standards.

Antonio Borges, vice chairman of Goldman Sachs International until February, was named chairman of the HFSB. The group also announced the appointment of a dozen trustees, including Man Group CEO Peter Clarke, Marshall Wace Chairman Paul Marshall and Hermes chief Kathryn Graham.

“It is very important that managers adhere to standards that give confidence to investors, financial regulators and the wider public,” Borges said.

Prior to joining Goldman, Borges served as dean of the business school Insead and as vice governor of the Banco de Portugal.

The HFSB was established by the Hedge Fund Working Group, which includes representatives of such industry luminaries as Brevan Howard Asset Management, CQS, GLG Partners, Man, Och-Ziff Capital Management and RAB Capital. Its final report called on hedge funds to adopt tougher valuation standards and codified best practices on disclosure, governance, risk and shareholder conduct. But, to date, only one firm other than the original 14 have signed on to the voluntary code.