SIFMA names leaders of steering group

Richard Weil, COO of Newport Beach, Calif.-based Pimco was elected chairman of the asset management group.

The Securities Industry and Financial Markets Association of New York and Washington today announced new leadership for the steering committee of its asset management group.
The group is the voice for the buy side within the securities industry, and was one of the three major business groups formed when the old Securities Industry Association merged with the Bond Market Association.
Richard Weil, chief operating officer of Newport Beach, Calif.-based Pimco was elected chairman of the asset management group.
Joan Binstock, chief operations officer at Lord Abbett & Co. LLC in Jersey City, N.J., was elected vice chairwoman of the group; and Mark Hemenetz, chief operating officer at Schroder Investment Management North America Inc. in New York, was named treasurer.
Under pressure from unofficial supervision from the Department of the Treasury, the AMG has been working with the International Swaps and Derivatives Association Inc. in New York and the Managed Funds Association of Washington to improve back-office processing for derivatives.