Kiyoto Hagiwara, CEO of SAAJ Japan and chairman of ASAF Asia, has been unanimously elected as the new ACIIA chairman. He succeeds Fritz Rau, who served as ACIIA chairman for the maximum 4-year term, and who remains in the ACIIA council. Fritz Rau was delighted with the election of Mr Hagiwara - "Hagiwara-san is a deeply committed advocate of the CIIA and will certainly do an excellent job to further promote the CIIA diploma worldwide." Mr Rau said in his congratulatory speech, and thanked the ACIIA members for their trust and support over the last 4 years. He added that "Further development of the ACIIA will be achieved by increasing the coordination of the intellectual strengths of the different associations. This requires the independent associations to refrain from full independence in selected areas - but this is a feature of a partnership such as ACIIA."

Mr Hagiwara expressed his pride in being elected and was quick to point out the achievements of the outgoing chairman. "Fritz Rau devoted himself unstintingly to launching the ACIIA and developing its infrastructure as a new association…..a full four years have passed since the establishment of the ACIIA during which it has expanded from 9 member societies to 25 around the world and candidates from 16 countries have graduated from the CIIA program".

The organizers and hosts of the meetings, the Dutch Financial Analysts Society VBA, did a wonderful job of making everyone welcome and creating opportunities for the delegates to network. The 41 delegates in attendance came from over 20 countries, creating a diverse and lively atmosphere as they made the most of the occasion to catch up on the news and events of other member societies. The next ACIIA council meeting will be held in Beijing on 30 November, hosted by the Securities Association of China.

Kiyoto Hagiwara

After graduating from the University of Tokyo's Faculty of Law in 1965, Kiyoto Hagiwara joined the Bank of Japan where he earned a reputation as an eminent advisor to not only the securities industry but also Japan's capital markets. He prudently and deftly guided local banks through rough times (helping prevent a major crisis in provincial cities), devised innovative M&A plans (for a ship building company, marine transportation company, etc.), played a leading role in developing and presenting compliance management to banks and securities companies, and drafted various laws relating to securities and finance. A highly regarded and influential corporate advisor, Mr. Hagiwara's professional career also spans many other fields, including university teaching and corporate management. His last position at the Bank of Japan was Executive Auditor.