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Rajib Chanda Quoted in BoardIQ on Independence Issues and Fund Board Recruitment
03.28.19
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Corporate Partner Rajib Chanda was quoted in a BoardIQ article titled “Right Skills? Check. Independent? That Could be Trickier,” which discusses the impact of the independence requirements in the ’40 Act on fund board recruitment. In the article, Rajib highlights the challenge of finding a candidate that is considered independent, especially for boards overseeing manager-of-managers complexes that employ dozens of subadvisers or multiple series trusts that house dozens of unaffiliated managers. “What if a candidate’s daughter works at one of those subadvisers?” Rajib asks. “She’s not going to quit her job, but her mom or dad also would not be considered an independent board member.”
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