Kathy Valentine (North America)
+1 (434) 951-5348
kathy.valentine@cfainstitute.org
Jessica Galehouse (North America)
+1 (434) 951-5376
jessica.galehouse@cfainstitute.org
Henry Chua (Asia Pacific)
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Patrick Racky (Europe)
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patrick.racky@fleishmaneurope.com
CFA Institute Celebrates 60th Anniversary with Activities That Mark the Founding of the Investment Profession
CFA Institute predecessor organization – NFFAS – formed on June 11, 1947
CHARLOTTESVILLE, Va., January 9, 2007 – CFA Institute, the global association of investment professionals, today announced a series of year-long, worldwide activities that will be held to celebrate 60 years of contributions to the investment industry.
On June 11, 1947, representatives from financial analyst societies in Boston, Chicago, New York, and Philadelphia joined forces to form the National Federation of Financial Analyst Societies (NFFAS) to promote the exchange of ideas, develop a code of ethics, and support the welfare of the societies and their members. NFFAS’ name was later shortened to the Financial Analysts Federation (FAF). In 1990, the FAF merged with the Institute of Chartered Financial Analysts (ICFA) to form the Association of Investment Management and Research (AIMR), which is now CFA Institute.
Today, CFA Institute has nearly 90,000 members from 130 countries and is recognized worldwide as the administrator of the “gold standard” for investment professionals – the Chartered Financial Analyst® (CFA®) examination program. It also is a leading provider of professional development publications and conferences and is the voice on issues of fairness, efficiency, and investor protection for global capital markets through the CFA Institute Centre for Financial Market Integrity.
“As CFA Institute, its members, and its societies worldwide reflect upon the many changes in the industry and profession that have occurred over the past 60 years, it is remarkable how the NFFAS’ goals are still applicable today,” said Jeff Diermeier, CFA, president and CEO of CFA Institute. “This demonstrates that while the industry has evolved, the framework of ethics and professional excellence that embodies the foundation of the industry remains the same.”
“The establishment of the NFFAS was a turning point for what was once known as a practice that was originated out of North America,” said Vincent Duhamel, CFA, chair of the CFA Institute Board of Governors. “Now that we are a profession across the world, where do we go from here? For CFA Institute, one thing is certain: we will continue to lead the way toward the highest standards of professionalism, education, and integrity globally.” Duhamel is also the managing director and head of GSAM Asia ex Japan, Goldman Sachs (Asia) LLC, based in Hong Kong.
CFA Institute anniversary celebration activities will include:
- CFA Day – the first of what will be an annual event, CFA Day is a worldwide celebration held during the week of June 11, 2007 whereby CFA Institute and its member societies recognize the founding of the investment profession with a variety of events. View a directory of local CFA Day events held worldwide.
- CFA Magazine – throughout 2007, each issue of the magazine will introduce a series of member profiles that feature up-and-coming practitioners who are influencing the profession in a positive way. CFA Magazine’s guest editorial will offer thoughts from contemporary practitioners who are passionate about the profession and have a strong opinion about a particular aspect of the industry, especially as it relates to the future. Lastly, each issue of the magazine will highlight a portion of a 60-year timeline that will depict major events in the founding and development of the profession.
- 60th CFA Institute Annual Conference (April 29 – May 2, 2007) – The CFA Institute Annual Conference celebrates its 60th year and returns to New York, the city where it first began. Investment professionals from around the world will gather to hear industry leaders share insights on today's most critical investment issues, including the role of alternative assets in a well-diversified portfolio, structural growth trends in emerging markets, the future of retirement plans, investment implications of behavioral finance, and the theories that will most shape the practice of investment management.
- Global Perspectives on Investment Management: Learning from the Leaders – a new publication from CFA Institute available in January, this book is a collection of essays by today’s luminaries. For example, Sir David Tweedie, FSIP, of the International Accounting Standards Board offers an approach to building higher standards into the fabric of global markets that increase transparency and foster cross-border investment; legendary money managers John Neff, CFA, and Bill Miller, CFA,share their perspective on seeking value opportunities in equity markets with unconventional insights built on a solid framework of lifetime of experience; and Abby Joseph Cohen, CFA, of Goldman Sachspaints a picture of a global environment in flux, with economic energy shifting predictably with comparative advantages altered by the dominant demographics of Asia and Europe.
- Online press kit – to further share the story of the founding of the profession and CFA Institute history, this site will contain fact sheets, an online timeline, information about CFA Day activities, and a historical video. Visitors to the site will also be able to view a copy of the first CFA exam, given to 284 men and women in 1963, and the first Financial Analysts Journal (then known as the Analysts Journal), which was published in January 1945.
CFA Institute
CFA Institute is the global, non-profit professional association that administers the Chartered Financial Analyst® (CFA®) curriculum and examination program worldwide, publishes research, conducts professional-development programs, and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 87,000 members in 132 countries and territories, including the world’s 76,000 CFA charterholders, as well as 134 affiliated professional societies in 55 countries and territories. CFA Institute is headquartered in Charlottesville, Va., USA, with regional headquarters in London, Hong Kong, and New York. More information may be found at www.cfainstitute.org. (Bloomberg users can find CFA Institute at 497458Z).