Alexander Schindler will take over EFAMA’s presidency for two years, after serving as its vice president since June 2013.
His election came at the association’s annual general meeting last week.
BNP Paribas, for whom Dargnat serves as chief executive officer, will remain a member of EFAMA after he steps down.
Schindler was elected as a member of the board of directors at EFAMA in May 2012 and as a member of its management committee in June 2012. He has also been a member of the board of directors of BEA Union Investment Management in Hong Kong since 2007.
Wiliam Nott, chief executive of M&G Securities, will take over as vice president at the organisation after serving on its board of directors for six years.
On his appointment, Schindler said: “The far reaching EU agenda, after the renewal of the mandates of both the European Parliament and European Commission last year, presents both a challenge and an opportunity for our industry and its role in the long-term growth and financing debate.”
EFAMA is the representative association for the European investment management industry. It contains 26 member associations and 63 corporate members, managing almost €19trn in assets under management.
Among its “priority themes” for the next two years, the association lists:
- Continuing to rebuild investor confidence;
- Promoting market-based financing of the economy;
- Fostering a regulatory level playing field for EU investment products;
- Developing an EU-wide personal pension product; and
- Strengthening the competitiveness of the industry.
In May, the association endorsed the European Commission’s plans to create a Capital Markets Union spanning all 28 EU member states which will aim to “further stabilise” the EU financial system by opening up a wider range of funding sources.
Speaking at the time, director general, Peter de Proft, said: “We very much welcome the fact that EU policymakers are embracing the opportunities that the asset management industry offers in terms of supporting sustainable economic growth and long-term financing.”