3i´s Jonathan Russell takes over from Helmut Schühsler as EVCA chairman

Commenting on his role for EVCA in 2008-2009, Jonathan Russell said, ´This is the year the whole industry across Europe has to pull together as one united body and commit to supporting EVCA's work at Brussels level. We need the engagement of senior investment executives of all firms that invest across Europe and it is my aim to secure that engagement.

´The private equity industry also needs to demonstrate that it is committed to self-regulation on corporate governance, reporting, valuation and transparency if we are to avoid having the scope of the industry's operations substantially affected. This is going to be a year of pressure and of change and I intend to do everything I can, with the EVCA Secretariat, to ensure that that change does not inhibit the continued success of the private equity industry in Europe,´ Russell continued.

EVCA secretary general Javier Echarri added, ´Both 3i as a firm and Jonathan as an individual have given EVCA invaluable support over many years and we are delighted now to have Jonathan as our chairman in a crucial year, as various groups attempt to restrict the management and investment of funds that bring significant value as well as capital to the European economy.´

Russell joined 3i in 1986. From 2000-2005 he was chairman of EVCA's Buyout Committee and a member of the Association's Executive Committee.

During the Symposium EVCA is celebrating its 25th anniversary. Besides the outlook for the industry, fundraising and social responsibility, topics at the conference include sovereign wealth funds and how the industry should be dealing with them. Alain Demarolle, advisor to the French government on sovereign wealth funds, called for sovereign wealth funds to be more open and communicate better what they are doing and who they are.

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