Claude Kremer, former Chairman of the Association of Luxembourg Fund Industry (ALFI) was this week elected PresidentPARA_BREAK_SENTINEL_9f8e7d6c

Claude Kremer, former Chairman of the Association of Luxembourg Fund Industry (ALFI) was this week elected President of the European Fund and Asset Management Association (EFAMA) for a two-year term. Kremer, who has already served as Vice-President, succeeds Jean-Baptiste de Franssu. The election was held in Lucerne during EFAMA’s Annual General Meeting. In what is a first for the organization, two Vice-Presidents were also elected: Christian Dargnat and Massimo Tosato. Mr Kremer was Chairman of ALFI for four years and is also a founding partner and Head of Investment Management at Luxembourg-based law firm, Arendt & Medernach. Dargnat is the CEO of BNP Paribas Asset Management, whilst Tosato is Executive Vice Chairman of Schroders Plc. He joined the firm in 1995. On his appointment, Kremer said it was a great honour and privilege and that the many initiatives undertaken by de Frannsu would 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 measure, promote the UCITS brand in Europe and beyond, and increase the legitimacy of the European Fund and Asset Management professionals,” said Kremer.