Peter De Proft has been named chair and Susan Olson has been named vice chair of the board of directors of the International Investment Funds Association.

De Proft succeeds Richard Gilbert, C.E.O of the Investment Financial Services Association of Australia who has been chair since 2007 and will remain on the board.

De Proft is Director General of EFAMA, the European Fund and Asset Management Association and served as deputy-chair of IIFA. Olson is senior counsel, international affairs, of the Investment Company Institute, and has been a member of IIFA.

Commenting on Gilbert’s leadership, De Proft said “As founding chairman, he oversaw the incorporation of the IIFA, the official body representing the mutual funds associations globally. In that regard, his vision was instrumental in laying the foundation for a credible and representative organization that brings together the 35 country associations representing the vast majority of global fund industry.”

The Investment Funds Institute of Canada provides administrative and secretariat services to the IIFA board.

Headquartered in Montreal, the IIFA regroups 39 national and regional mutual funds associations from all continents, collectively representing close to US$19 trillion at the end of the fourth quarter of 2008.