After nine years of service, Dame Amelia Fawcett is retiring as chairman from the Standards Board for Alternative Investments (SBAI) and a new chairman and deputy chairman has been named to lead the industry group.
Mario Therrien, senior managing director and head of strategic partnerships, developed markets at Caisse de depot et placement du Quebec, and Luke Ellis, CEO, Man Group PLC, both current trustees of the standards board, will succeed Fawcett.
The SBAI was set up over a decade ago as a standard setting body for the alternative investment industry and brings together managers and investors to share solutions to issues of common concern and to develop practical, industry-wide solutions.
“The current health crisis and challenging economic outlook spell uncharted, potentially treacherous, waters,” said Dame Amelia in a press release statement. “So, the need for leadership, strong standards of practice and efficient sharing of knowledge among peers has never been greater. This is precisely the type of environment that underscores the value of the Standards Board, as industry members seek current insights and examples of “best practice,” as they manage through the difficult and uncertain weeks and months ahead.”
She added that the partnership between Therrien and Ellis is a “visible manifestation” of what makes the SBAI so valuable with investors and managers working together across geographies to make a difference to our industry and economies.
Agreeing with Dame Fawcett, Therrien said that the current environment underscores the value of the organization’s work as a collaborative platform where “industry leaders can share knowledge and develop solutions that help institutional investors, investment managers and regulators strengthen the alternative investment industry.”
Ellis said that he is convinced that the need for the SBAI has never been greater. “I am confident that the SBAI and the Standards will continue to serve all of the stakeholders in the alternative investment industry around the globe and be an essential part of making our industry stronger.”
The support for the group has grown with leading asset managers joining the platform over the last year. Asset managers including Angelo Gordon, BlackRock, Bridgewater, Citadel and PIMCO have either joined the Standards Board or increased their long-standing commitment as core supporters.
Overall, the Standards are supported by more than 130 alternative investment managers with approximately $1 trillion in aggregate assets and by more than 80 major institutional investors, including sovereign wealth funds, pension funds, endowments/foundations and funds of funds overseeing $3.5 trillion in assets.