John Stannard, managing director of client service for Russell Investment Group in Europe, the Middle East and Africa, has been elected chair of the board of governors of the CFA Institute, the association that administers the Chartered Financial Analyst program worldwide.

In addition, Vincent Duhamel, managing director of Goldman Sachs (Asia) LLC, will serve as vice chair of the board. Both Stannard and Duhamel will serve one-year terms of volunteer service beginning today.

Stannard will head a 20-member Board of Governors comprised of investment professionals from eight countries: the United States, Canada, Hong Kong, Luxembourg, Australia, the United Kingdom, Switzerland and Singapore. He replaces Monique Gravel, first vice president and branch manager at CIBC Wood Gundy in Montreal, who will continue on the board for one year as immediate past chair.

“Today, CFA Institute faces a period of unique opportunity,” commented Stannard. “We have a new CEO, a new name and more streamlined advocacy and standard-setting efforts through the CFA Centre for Financial Market Integrity. Now, we have a duty to build upon all of our successes and approach a more competitive environment enthusiastically and with confidence. It’s a great privilege to be a part of these challenges as chair of this great organization.”

As managing director of client service for Russell’s institutional investment group, Stannard supports Russell’s growing institutional client base in Europe, the Middle East and Africa, including U.K. pension funds. Previously, he was chief operating officer at Russell, where he was responsible for administration and operations functions. Stannard is also chair of Russell/Mellon Analytical Services and has served as a regular member of the CFA Institute Board of Governors since 2002. He received his CFA charter in 1988, is a UKSIP Fellow, and holds a B.Sc. in pure mathematics from Royal Holloway College at the University of London. Stannard also sits on the Advisory Council for the CFA Centre for Financial Market Integrity, the advocacy and research arm of CFA Institute.

Five new governors have also been elected to the board to serve three-year terms beginning today: Alida Carcano, managing director for investment advisory at Credit Suisse in Lugano, Switzerland; James Hollis, managing director for Cutter Associates in Wellesley, Mass.; Stanley Lee, principal and portfolio manager for David J. Greene & Co., LLC in New York; Ashvin Vibhakar, director of the Institute for Economic Advancement in the College of Business Administration at the University of Arkansas in Little Rock; and, Thomas Welch, managing director and regional manager for Wells Capital Management in Minneapolis. Emilio Gonzalez, with Perpetual Investments in Sydney, and George Noyes, with Standish Mellon Asset Management in Boston, were elected to second three-year terms.

“CFA Institute and the global investment industry have seen many changes,” said Jeff Diermeier, president and CEO of CFA Institute. ”As CFA Institute moves into the future and fulfills its role as an industry advocate, educator and standard-bearer, we need professionals like John and Vincent to help lead the way. I’m pleased to have the opportunity to work with them and the rest of the board.”

Ten other governors from seven countries will continue to serve the remainder of their three-year terms on the board: Anthony Cagiati (Zurich); Shirley Shea DeJarnette (Columbia, Mo.); Margaret Franklin (Toronto); Samuel Jones, Jr., (Boston); James Lyon (Los Angeles); Alex K.G. Ng (Hong Kong); Nicola Ralston (London); Brian Singer (London); Jose Luis Velasco (Luxembourg); and Teong Keat Yap, (Singapore).

As full-time president and CEO, Diermeier will continue to serve on the board. The CFA Institute membership votes each May at its annual meeting to elect new board members.