ACI Financial Markets Association, a non-profit association representing the interests of market professionals, has made two appointments to its managing board, adding Mohammed Al Hashemi and Bruno Langfritz, according to an ACI statement.
As per the two new hires, Mohammed Al Hashemi has been named as President of ACI Middle East, while Bruno Langfritz becomes vice chairman of the ACI Managing Board and President of ACI Europe.
In particular, Mr. Al Hashemi joins ACI from the UAE Financial Markets Association, where he served as chairman. Moreover, he also worked previously at Emirates NBD Bank as its associate director for global market and treasury.
Alternatively, Bruno Langfritz has been tapped as Vice Chairman of the ACI Managing Board and Regional President in Europe. The ACI mainstay has previously served on the Board of ACI Switzerland.
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According to Eddie Tan, Chairman of ACI Financial Market Association’s Managing Board in a recent statement on the appointments, “this is a critical time for our industry as it undergoes reform, and the ACI is working closely with regulators and market participants – both sell-side and buy-side – to ensure we provide the most comprehensive guidance on ethical conduct and best practice.”
“The ACI has been a leader for many years with the Model Code and financial markets education and certification programs. The appointment of Mohammed Al Hashemi and Bruno Langfritz will ensure that our membership continues to grow, and their experience, strong ethical stance and leadership will help the ACI set the benchmark for best practice across the FICC markets and ensure our contribution to the industry has a positive impact on financial markets in different regions around the world,” Mr. Tan added.
“As the industry places a renewed focus on reducing conduct risk, we know the value of the guidance and education the ACI and its Model Code can offer to market participants. We are continuously updating the Model Code and developing new educational tools, such as the e-Learning and Certification (ELAC) Portal, to ensure we are ready to help our clients, the general public and industry thrive in a way that addresses the concerns of all of our constituents,” noted Mr Langfritz in an accompanying statement.
Earlier this year, the ACI updated its code of conduct in light of the FX market manipulation that permeated the market. The consequent conduct spells out how banks must not abuse “last look” rights.