LONDON (HedgeWorld.com)--The Alternative Investment Management Association has launched its seventh international chapter, this one in the Cayman Islands.
The new Cayman chapter represents something different in terms of how it was formed, according to AIMA. Hedge fund industry participants there asked for it, and it has the backing of the Cayman Islands Monetary Authority and the Government's Portfolio of Finance and Economics.
"This is notable and natural milestone, and a signal of AIMA's growing influence worldwide," AIMA Chairman Christopher Fawcett said in a statement. "Cayman is an integral part of the hedge fund industry, with the majority of hedge funds globally domiciled there."
AIMA, based in London, has other international chapters in Australia, Canada, Hong Kong, Japan, Singapore and South Africa.
Andy Stepaniuk of KPMG has been picked as chairman of the new AIMA Caymans chapter, while the deputy chairman will be Mark Lewis of Walkers. Henry Harford of Maples and Calder will handle legal/regulation and tax issues, Valia Theodoraki of the Cayman Islands Stock Exchange will head up education and research, and Alun Davies of GLG will oversee media and communications, according to a news release from AIMA.
"With the wealth of knowledge that sits in the Cayman Islands, this new AIMA chapter will provide the ideal platform for the Cayman hedge funds industry to make a more public contribution to the global hedge fund debate," said Gary Linford, head of the Investment and Securities Division of the Cayman Islands Monetary Authority.
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