The International Association of Credit Portfolio Managers (IACPM) has re-elected Mark Hughes, global head of credit at RBC Capital Markets, as its chairperson, and Sean Kavanagh, global head of loan exposure management at Deutsche Bank, as vice chairperson. The pair will serve one-year terms through the end of 2010.

The IACPM, an industry organization that focuses on credit portfolio management, has also re-elected Vipin Ramani, a senior vice president at Bank of America, as treasurer, and Tamar Joulia, head of ING’s credit portfolio group, as secretary.

One of the issues the IACPM will focus on heading into 2010 is the fact that many credit portfolio management teams are being asked by their firms to take on greater responsibility for asset classes outside their traditional focus.

“Our members and their firms have substantially changed the ways they view and manage risk,” said Som-lok Leung, the executive director of the IACPM. “As portfolio managers’ responsibilities expand, the IACPM is helping them by looking for better ways to perform their function, while helping their firms maximize a balance of risk and return.”

The IACPM will also focus on a new capital penalty imposed under Basel II for hedging credit portfolios with the new CDS contracts standardized for clearing through the new derivatives clearinghouse.

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