The Hedge Fund Standards Board (HFSB) has appointed Antonio Borges as its first permanent chairman. A former Vice Chairman of Goldman Sachs and Dean of Insead, Mr Borges will take up the new post on 1st July 2008.
A permanent board of trustees for the HFSB has also been announced, bringing in major hedge fund investors including executives from a leading sovereign wealth fund, a UK pension fund manager and fund of funds alongside hedge fund managers.
Sir Andrew Large, who headed the initiative to produce best practice standards involving 14 leading hedge fund managers, said: “We’re absolutely delighted to have someone as distinguished as Antonio Borges taking on this role. With his exceptional international experience and knowledge of the financial sector, Antonio is ideally positioned to take this to the next stage.
“He will be able to broaden support for the process among other hedge fund managers, work with the US to harmonise standards and liaise with the financial regulators and official bodies such as the Financial Stability Forum which are following this initiative closely.
Antonio Borges said: “Hedge funds have become a critical part of the financial system both because of their size and influence and because they are at the forefront of financial innovation. It is very important that managers adhere to standards that give confidence to investors, financial regulators and the wider public.
“I am very pleased to be taking on this role at a time of such challenge and opportunity for the hedge fund industry. I look forward to working with my fellow trustees on the HFSB to promote these standards.”
Besides the chairman, the other trustees of the HFSB are:- Peter Clarke, CEO, Man Group
- Paul Dunning, CEO, FRM Ltd
- Christopher Fawcett, chairman, AIMA
- Kathryn Graham, Director of Manager Selection and Hedge Funds, Hermes Fund Managers Ltd
- Michael Hintze, CEO, CQS
- Anthony Lim, President of the London office, GIC
- Paul Marshall, Chairman, Marshall Wace
- Nicolas Moreau, Chairman, AXA Investment Managers Ltd
- Russell Read, former CIO, CalPERS
- George Robinson, Founding Partner, Sloane Robinson
- Manny Roman, co-CEO, GLG
- Simon Ruddick, Managing Director, Albourne Partners
