Global hedge fund group Alternative Investment Management Association has elected Philip Tye as the new chairman of its Hong Kong arm.

Tye is the founding partner and managing director of Dragonback Capital, one of the member firms of AIMA. Joining him in the senior ranks are Anthony Byrne as deputy chairman and Michael Gibson as treasurer. Byrne is the head of Asia-Pacific Prime Finance and managing director at Deutsche Bank, while Gibson is a partner at Lim Advisors.

Philip Tye has been an active figure in the Asian financial services industry for the past 20 years. His previous roles include being chief financial officer at PMA Investment Advisors and director of Asia-Pacific prime brokerage at Credit Suisse.

Alternative Investment Management Association represents practitioners in the alternatives industry, including hedge fund managers, fund of hedge funds, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors.