The latest moves in North American wealth management senior positions.

Managed Funds Association
Managed Funds Association, the trade association for the global hedge fund industry, has named Washington and alternative investments professional Bryan N Corbett as its new president and chief executive. Corbett succeeds Richard H Baker, who has served in the position since 2008. 

Corbett begins his new role on January 21 and will be based in Washington, DC.

Corbett comes to MFA from The Carlyle Group, the international private equity house, where he was a partner and managing director. For the first five years of his there tenure, Corbett managed US government and regulatory matters affecting Carlyle, its investments and the industry. Prior to Carlyle, Corbett served in the George W Bush Administration as a Special Assistant to the President for Economic Policy and as the Senior Advisor to Deputy Secretary Robert Kimmitt at the Treasury Department; before that he served as Majority Counsel on the Senate Banking Committee under Chairman Richard Shelby.

The appointment comes at a time when hedge fund industry global assets under management are close to an all-time high at nearly $3.5 trillion, but the industry also faces challenges, such as compressed fees.