George Gatch is passing the reins at ICI, yet he is remaining involved in a senior role. And several new board members joined up.

On Thursday, Eric Pan, president and CEO of the Investment Company Institute, confirmed that Yie-Hsin Hung has been elected by ICI's board to chair the trade group. Hung is the CEO of New York Life Investment Management (NYLIM).

Hung succeeds Gatch, who was elected vice chair. Gatch also serves as CEO of J.P. Morgan Asset Management.

ICI's membership also elected several new board members, including: George Aylward of Virtus, Heather Brilliant of Diamond Hill, Carol Geremia of MFS, Thomas Kersting of Edward Jons, Cynthia Plouche of Northern Trust's funds, and Kristi Slavin of Brighthouse.

"Yie-Hsin Hung's considerable knowledge, experience, and achievements make her the ideal person to be the new chair of ICI, and, therefore, the voice of the investment fund industry," Pan states. 

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