The Bermuda network of an alternative investment organisation has set up a new executive committee.

Craig Bridgewater, managing director at professional-service firm KPMG, has become the first chairman of the island branch of the Alternative Investment Management Association.

Aima is a global organisation with a head office in London. The association has 1,600 corporate members in more than 50 countries.

Commenting on the Bermuda network, Mr Bridgewater said: “In keeping with the goals and objectives of the international organisation, the committee will oversee the development of our education and research component, as well as spearhead our legal and regulatory initiatives, membership engagement and media relations in Bermuda.”

He added: “It is our intention that the committee be as representative of the broadest asset community as possible.

“To this end, we have welcomed members from accounting, legal and banking sectors, together with fund management and administration professionals.”

Other members of the committee are Michael Burns of Harneys, Elizabeth Cava of Deloitte, Matthew Charleson of Kane LPI, Elizabeth Denma of law firm Conyers Dill & Pearman, Peter Hughes of Apex, Laura Knox-Clingerman of Harbour, Danielle Paynter of HSBC, Sally Penrose of Appleby, Sean Smith of PwC, Katharine Summerley of Orbis, Helen Thornton of Nephila, Ben Wright of EY, and Michael Veale of Butterfield Bank.

Jack Inglis, CEO of Aima, said: “I am delighted by the formation of the executive committee in Bermuda to lead our activities there.

“We have had members on the island for many years and this structure strengthens our presence and affirms Bermuda as a high calibre jurisdiction for the alternative funds industry.

“We hope by this to serve our local members better through education, networking and other industry engagement activities as well as attract even more members and contributions from stakeholders, further enhancing Bermuda’s international reputation.”

He added: “As a global organisation, Aima seeks to provide an interactive and professional forum for its membership and to act as a catalyst and promoter of the industry’s global development.

“It also serves to provide leadership to the industry and aims to be its pre-eminent voice for the development of sound practices and industry transparency.”

Mr Bridgewater said Aima, which launched quietly on the island in March, and was working on holding a number of events. A breakfast briefing is scheduled for September 16 at the Hamilton Princess.

He added: “The committee will be reaching out to the industry over the coming months to advise them of their various initiatives.”

Anyone interested in joining the local network should contact Jude Lait at jlait@kpmg.bm or Mr Bridgewater at cbridgewater@kpmg.bm