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MFA Board of Directors Gets Four New Members

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WASHINGTON (–The Managed Funds Association’s elections put four new members on its board of directors and officers for the 2002 to 2003 fiscal year.

One of the new directors, Theresa D. Becks, chief financial officer and secretary, Campbell & Co. Inc., Towson, Maryland, testified before the Commodity Futures Trading Commission in September that public futures offers are over-regulated by overlapping authorities.

On Sept.19, the CFTC held a roundtable for discussion of commodity pool operator and commodity trading adviser issues. Campbell has been registered as a CPO since 1982 and as a CTA since 1978. Ms. Becks told the CFTC that Campbell supports “an initiative to streamline the various definitions of sophisticated persons and coordinate the definitions across all necessary regulatory authorities.” Specifically, she said that the comments Campbell receives from various regulators who must clear its offering documents often contradict each other.

“We spend an enormous amount of time ‘negotiating’ between all concerned parties until a consensus is reached,” she said. “Ironically, the ones who end up paying for all the legal time required to resolve issues between the regulators are the investors themselves (through increased offering costs), the exact group the regulators are hoping to protect.”

The other new MFA directors are: Robert Alderman, managing director, Merrill Lynch Investment Managers Inc.; Kent A. Clark, managing director and chief investment officer, Goldman Sachs Hedge Fund Strategies Group; Mark H. Mitchell, vice chairman, John W. Henry & Co. Inc.

The board also includes: Arthur F. Bell, Jr., managing partner, Arthur F. Bell, Jr. & Associates LLC; Kenneth L. Grant, chief investment officer, ADS Capital Management; Kevin M. Heerdt, managing director, Integrity Consulting Inc.; Jeffrey D. Izenman, managing partner, BRI Partners LLC; Robert A. Jaeger, chief investment officer, Evaluation Associates Inc.; Jean-Louis Juchault, chief executive officer, Systeia Capital Management; Bruce I. Nemirow, principal, Capital Growth Partners LLC; Mark Rosenberg, chairman and chief investment officer, SSARIS Advisors LLC; Jeffrey A. Rothman, first vice president and national sales manager, Morgan Stanley; Mark Silver, vice president, Renaissance Technologies Corp.; David J. Vogel, executive vice president, Salomon Smith Barney; and Samuel S. Weiser, founder, Foxdale Management Ltd.

Six appointed directors also serve on the board: Scott Bernstein, general counsel, Caxton Associates LLC; Adam Cooper, managing director and general counsel, Citadel Investment Group LLC; Nancy Havens-Hasty, founder and president, Havens Advisors LLC; John M. Kelly, president, Man Investment Products; Thomas Schneeweis, professor, CISDM, School of Management, University of Massachusetts at Amherst; R. Charles Tschampion, managing director, General Motors Investment Management Corp.

John Damgard, president of the Futures Industry Association, is a special adviser to the MFA’s board.

Three directors have completed their two terms of two years each, and they are leaving the board. They are: Jeffrey F. Chandor, senior vice president, Merrill Lynch Investment Managers Inc.; Bruce L. Cleland, president and chief executive officer, Campbell & Co. Inc.; and David M. Kozak, senior vice president and general counsel, John W. Henry & Co. Inc.

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