The trade body for the world's alternative investment firms has named a new chairman and brought in fresh regulatory expertise – appointments that come as its members face a growing compliance agenda in Europe.

The Alternative Investment Management Association said in a statement on September 27 that Simon Lorne, the chief legal officer of hedge fund Millennium Management, has replaced Kathleen Casey as its chair. Casey, a former commissioner at the US Securities and Exchanges Commission, has held the role since 2012.