UK - David Hynes has stepped down as chairman of the Institutional Money Market Funds Association (IMMFA).
Hynes, who is also head of fixed income structured products at Gartmore, has held the position since June 2002.
During his two and a half year reign, he established an executive committee at the association, as well as leading the call for a Code of Practice for IMMFA members.
Commenting on his decision to step down, Hynes said: “This is undoubtedly a critical period in the evolution of IMMFA.
“Nonetheless, due my additional responsibilities in my fund management role at Gartmore, I do not feel I can offer IMMFA the same effort and concentration going forward.
A successor is expected to be announced this week.
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