Luke Ellis, the chief executive of hedge fund manager Man Group has been named as a trustee of the Hedge Fund Standards Board (HFSB).

Set-up in 2008, the non-profit trade body aims to improve hedge fund transparency and governance as well as educating on topics such as AIFMD and short selling.

Henry Kenner, chief executive of Arrowgrass, a hedge fund spun out of Deutsche Bank, has also joined the group as a trustee. 

Hundreds of hedge funds and other institutional investors have backed the HFSB, including Goldman Sachs Asset Management earlier this year.

The trade organisation is also forming a working group to study liquid alternatives – which range from hedge funds in a UCITS wrapper through to less controversial multi-asset options such as risk parity strategies.

“We are thrilled to welcome Luke and Henry to the board and appreciate their willingness to serve as trustees,” said Dame Amelia Fawcett, chairman of the HFSB.

“The HFSB will benefit greatly from their global expertise and perspectives as leading managers and establish good practices in an increasingly diverse alternative investment industry.”

Ellis added: “The HFSB has a unique role as a platform for bringing the industry together to solve issues and I look forward to working with the board on standards and guidance, particularly in areas which represent an expansion of focus, such as liquid alternatives.”