John Gaine, president of the Managed Funds Association (MFA), welcomed four new directors to the board during its first meeting of the new term on November 10th in New York, and announced the board’s re-election of its chairman, Adam Cooper, for a second term.
The four new directors, elected by MFA’s membership for two-year terms, are Philip Duff, chairman and chief executive officer, FrontPoint Partners; Patrick Egan, vice president, Morgan Stanley; Kevin Shannon, CPA, chief financial officer, Moore Capital Management; and John Torell IV, chief financial officer and managing director, Tudor Investment Corporation.
Cooper says, “The association is keenly focused on the opportunities and challenges that the alternative investment industry will face as our regulatory environment evolves. Our primary goal is to ensure that the industry continues to thrive and develop in an effective and appropriate manner within this environment. We are confident that our new directors will play an instrumental role in helping MFA achieve this goal and those of its members over the months and years to come.”
In addition, the following four incumbent directors were re-elected for a second, two-year term: Robert Alderman, managing director, Alternative Investments, Merrill Lynch Global Private Client; Theresa Becks, chief financial officer, Campbell & Company; Kent Clark, managing director and chief investment officer, Goldman Sachs Hedge Fund Strategies Group; and Mark Mitchell, vice chairman, John W. Henry & Company.
The new directors replace four directors who had each completed two consecutive two-year terms, which include: Kenneth Grant, head of global risk management, Cheyne Capital Management; Jeffrey Izenman, co-CEO, BRI Partners, and executive vice president, Rabar Market Research; Jean-Louis Juchault, chief executive officer, Systeia Capital Management; and Jeffrey Rothman, first vice president and national sales manager, Morgan Stanley.
At this initial meeting of the new board of directors, Cooper, a senior managing director and general counsel of Citadel Investment Group, was unanimously re-elected by the board to his second term as chairman. He served as an appointed director of MFA from November 2000 until his election to the board in 2003.
“The association has concluded a landmark year in its many critical missions on behalf of hedge fund managers and the alternative investment industry more generally, including furthering constructive dialogue with government officials in the US and abroad, providing guidance for sound business practices, and creating educational programmes for members,” says Cooper.
“In the coming year, MFA will continue to work closely with the SEC, CFTC, NASD and other regulatory bodies that interact with our industry, as well as key members of Congress, in order to ensure that the innovation and entrepreneurial spirit that is the hallmark of our industry is preserved,” he continues.
The MFA Board also elected MFA’s other officers and members of the executive committee at the meeting. The board re-elected Mitchell as MFA vice chairman, and Arthur Bell, Jr, managing partner, Arthur F. Bell, Jr & Associates, as MFA treasurer. Newly elected director Torell was elected MFA secretary. In addition to these four officers, the board elected two other directors to serve on its executive committee: Robert Aaron, chairman and CEO, Derivatives Portfolio Management, and Scott Bernstein, general counsel, Caxton Associates.