The Securities Industry and Financial Markets Association (SIFMA) hired Timothy Cameron as a managing director and as the principal staff advisor to association’s asset management group (AMG).
Joe Sack, who had formerly held the position, will remain at SIFMA as AMG executive advisor.
In his new role, Cameron will focus on developing and managing a wide array of policy perspectives on issues that directly affect AMG members along with key SIFMA policy and advocacy staff.
Meanwhile, Sack will continue to provide counsel to SIFMA and the AMG, and ensure an orderly transition.
Before SIFMA, Cameron was president and chief executive officer at DWS Trust Co., a Deutsche Bank Americas subsidiary. In that role, Cameron led efforts to build a new governance structure to oversee fiduciary services that included: trustee of unregistered mutual funds, directed trustee of 401k plans, and custodian of IRAs.
At DWS Trust, Cameron was achieved the highest rating ever granted by a state banking regulator in areas of management, financial stability and corporate governance.
Before leading DWS Trust , Cameron was president of the Scudder Trust Co., a subsidiary of Scudder, Stevens & Clark based in Boston. While there, he transformed an existing IRA custodian bank into a broad resource offering fiduciary services for the parent’s institutional, individual wealth management, and retail teams.
Cameron has held numerous other wealth management positions in his career, including at State Street Bank & Trust Company, and founding his own firm, Andover Investment Alternative, based in Plymouth, Massachusetts.
“I am pleased that Tim has come on board to be our new point of contact for SIFMA’s Asset Management Group,” said Timothy Ryan, president and CEO of SIFMA. “As we continue to address major reform of our financial system, Tim will play a key role in ensuring asset manager views are heard.”
“Tim joins SIFMA to represent AMG at a crucial time,” said Richard Weil, managing director at PIMCO, and chair of AMG. “His extensive experience in wealth management and the variety of leadership roles he has held will be invaluable in his new role at SIFMA.”
“SIFMA is the voice of the asset management industry and we are excited to have the combined strengths of Joe and Tim,” said Joan Binstock, chief operating officer at Lord Abbett & Co., and vice-chair of AMG. “As our industry recovers from the recent financial turmoil, Tim’s leadership will be pivotal, as will the continued guidance and wisdom of Joe Sack.”
SIFMA’s AMG represents U.S. asset management firms whose combined assets under management exceed $20 trillion. The clients of AMG member firms include state and local pension funds, universities and individuals saving for retirement.