EFAMA changes guard as new regulations near

The European Fund and Asset Management Association (EFAMA) has elected Claude Kremer president for a two year term. Kremer, the association’s current vice president, vowed to represent fund manager concerns as regulators across Europe introduce new rules to stave off another financial crisis. 

In an interview with PEM, Kremer said EFAMA would help support sister trade body the European Venture Capital and Private Equity Association (EVCA) as it represents the private equity industry’s voice during follow-up rulemaking to the Alternative Investment Fund Managers directive.

“It’s important the different trade bodies representing the industry maintain regular communications,” said Kremer. “We’re much stronger when we work together then if we work separately”.

EVCA secretary-general Dörte Höppner said it was vital to maintain a strong lobbying front as the AIFM undergoes follow-up rulemaking to its core provisions. The EVCA has been communicating with EU regulators and national authorities as they craft new rules governing fund managers’ activity, said Höppner.

Due to the magnitude of regulatory reform in Europe, EFAMA for the first time appointed two vice presidents, said Kremer. Christian Dargnat, head of BNP Paribas’ asset management unit, and Massimo Tosato, vice chairman of asset management company Schroders, will both act as vice presidents.

Kremer, who succeeds Jean-Baptiste de Franssu as president, is a founding partner and head of investment management at Luxembourg-based law firm Arendt & Medernach.