CFA Institute has named financial services veteran Paul Smith as head of its Asia-Pacific operations. His appointment comes after a global search to find a successor to Ashvin Vibhakar, who will continue to lead strategic initiatives for the organisation as a managing director.
CFA Institute is a global association of investment professionals that aims to set the standard for professional excellence and credentials. In particular, it emphasises ethical behaviour in investment markets, as well as technical expertise. It has more than 113,000 members in 140 countries and territories.
Smith, a CFA charterholder, will take up his position on October 3. Based in Hong Kong, he will report directly to John Rogers, president and chief executive of CFA Institute.
He has more than 25 years experience in the financial industry, with a strong background in investment management and fund services, general management and business growth, including experience in Asia.
Most recently he ran his own firm, Asia Alternative Asset Partners, and has previously worked for HSBC and Bank of Bermuda. He is a council member and former board member of the Alternative Investment Management Association, a hedge fund industry organisation.
Smith will support the institute’s “mission to create an environment where investors’ interests come first, markets function at their best and economies grow”, according to a statement released yesterday.
“As CFA Institute seeks to restore ethics and integrity in finance, we recognise that the investment profession needs bold leadership,” said Rogers. “[Smith] is a fine example of an investment professional who upholds the highest standards of ethical practice.”
A record number of candidates sat for the June 2012 CFA exams, with a 43% pass rate. CFA Institute expects that the majority of candidates who passed the Level III exam will become CFA charterholders starting in early October, pending experience and membership requirements, bringing the number of charterholders to more than 105,000.
More than 40% of candidates who registered for the 2012 exams were from Asia-Pacific. There are more than 17,000 CFA charterholders in the region today, compared with a global total of around 100,000.
