The International Capital Market Association has appointed a new president and a new chief executive.

The ICMA named Martin Scheck its new CEO, effective Aug. 1. He comes to the trade group from UBS AG where he is a managing director and head of Swiss fixed-income. He has been on the ICMA board since 2004 and currently chairs its audit, compliance and governance committee.

The group also named René Karsenti as its new president, responsible for representing ICMA’s interests in its interaction with governments, regulatory bodies, other trade associations and international organizations. He has been the association’s executive president since May 2006.

The announcements were made at the association’s annual general meeting in Montreux, Switzerland. ICMA develops best practices and standards for the international debt market, and lobbies for the interests of capital markets firms.

“These appointments represent a considerable strengthening of ICMA’s executive management and enhance its services to its membership and the market. Martin Scheck has the skills and experience to deliver further improved operational efficiency. ICMA will also benefit further from René Karsenti’s knowledge, expertise and established relationships,” said Hans-Joerg Rudloff, ICMA’s chairman.