EUROPE - The European Fund and Asset Management Association (EFAMA) has elected Claude Kremer as president for a two-year term.
The election of the new EFAMA head took place in Lucerne during the annual general meeting, where representatives of the European investment management industry also appointed BNP Paribas Asset Management CEO Christian Dargnat and Schroders executive vice chairman Massimo Tosato as vice-presidents.
It is the first time that EFAMA has elected two vice presidents, a move it said reflected its commitment to engaging with the industry regulatory and operating environment.
Kremer (pictured) has already served as vice-president and will succeed Jean-Baptiste de Franssu who served for two years. Kremer was previously chairman of the Association of the Luxembourg Fund Industry (ALFI) for four years and has acted as a non-executive board member of a number of Luxembourg funds and listed companies. He is also a founding partner and head of investment management at Luxembourg law firm of Arendt & Medernach.
In his election speech,Kremer said: "It is a great honour and privilege for me to have become the president of this association which is the prominent and recognised voice of the European fund and asset management industry. The many initiatives undertaken by my predecessor Jean-Baptiste de Franssu provide a solid basis to build upon.
"I have identified the following five priorities which put the investor at the heart of our strategy: Promote long-term savings, encourage investor information and education, support beneficial regulatory measures, promote the UCITS brand in Europe and beyond, increase the legitimacy of the European Fund and Asset Management professionals.
"I believe these priorities capture the essence of what we wish to achieve over the next two years. EFAMA is a team effort and I see myself as part of this team, with the Vice-Presidents, the Director General and all our members the active support of whom is indispensable to fulfil our missions."
In addition to the elections, the AGM marked the formal acceptance of 15 new corporate members and 18 associate members, which saw EFAMA's membership increase to 56 corporate members and 27 national member associations.
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