The International Association of Credit Portfolio Managers (IACPM) has elected Mark Hughes, RBC Capital Markets global head of credit, as its chairperson.
The IACPM, an industry organization that focuses on credit portfolio management, has also elected Sean Kavanagh, the global head of loan exposure management at Deutsche Bank, as vice chairperson.
Vipin Ramani, a senior vice president at Bank of America, will remain treasurer, while Tamar Joulia, head of INGs credit portfolio group, will remain the secretary of the association.
The global credit markets continue to undergo unprecedented turmoil, and the IACPM, along with its members, are playing extremely important roles in helping the credit markets and our institutions navigate these difficult times, Hughes said in a statement.
The IACPM, which has 80 member institutions, will focus this year on bankruptcy, counterparty risk, the development of central clearinghouses for credit default swaps, and transparency, in addition to identifying risks and developing practices.
We are working hard this year to ensure any new regulation which may be established, as well the development of sound practices, enable the markets to work more effectively and transparently for the benefit of all participants, said Som-lok Leung, IACPMs executive director.
As head of RBC Capital Markets global credit, Hughes is responsible for the firms global wholesale loan portfolio.
The IACPMs 2009 board also includes Jeffrey Bohn of Standard Chartered, Steven Buck of Standard Bank of South Africa, Sarah Cheriton of Sumitomo-Mitsui Banking, Michael El Hadj of JPMorgan, Lori Evangel of MetLife, Alban Fauchere of Swiss Re, Masahiro Hosomi of The Bank of Tokyo-Mitsubishi UFJ, Ed Kyritz of Barclays, Rene Mouchotte of Calyon, Kevin Starrett of Citigroup and Jeffery Weaver of KeyCorp.