The CFA Institute has named Paul Smith as its new president and CEO, effective immediately.

Read: Economies and stock markets to have weak 2015: CFA poll

Smith has more than 30 years of leadership experience in the asset management industry, including over 18 years in Asia. He joined Bank of Bermuda in Hong Kong as Asia head of securities services in 1996. After HSBC’s acquisition of the bank in 2004, he served as global head of securities services and global head of alternative funds administration based in New York, where he was responsible for the delivery of services to 2,000 investment funds with over US$250 billion of assets.

Before joining CFA Institute in October 2012, Smith was chairman and CEO of Asia Alternative Asset Partners.

Smith succeeds Dwight D. Churchill, who was named interim president and CEO in June of last year following the tenure of former president and CEO John Rogers.

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