The Australian chapter of the global Investment Management Consultants Association (IMCA) has announced a plan to rebrand itself as the CIMA Society of Australia.

The group had previously branded itself as IMCA australia, confusing many with its use of a lowercase ‘a’ in Australia.

IMCA australia’s longstanding chair, Brett Elvish, revealed the name change on Tuesday, September 19, at the group’s annual conference in Melbourne, where he also announced his intention to retire from the role at the association’s upcoming annual general meeting in November.

IMCA australia deputy chair Kylie Willment, who was recently named Mercer’s new regional chief investment officer, thanked Elvish on behalf of the board, noting he had demonstrated an extraordinary level of commitment to the role, going over and above what would generally be expected of someone acting in a volunteer capacity.

“Brett has been on the IMCA australia board for almost eight years and chair since 2012,” Wilment said. “In that time, he has materially improved the financial position of the association, overseen the global harmonisation of the CIMA program, led a comprehensive strategic review, improved the efficiency of the operating model, developed a strong and productive relationship with IMCA International and ensured a high level of governance has been maintained at all times. It is fitting that Brett’s time as chair has culminated with the announcement at today’s annual conference that the association will be renamed to CIMA Society of Australia.”

Elvish said the decision to rebrand reflected the association’s goal of further emphasising the importance of its exclusive Certified Investment Management Analyst (CIMA) certification.

“CIMA represents the peak international, technical portfolio construction certification program designed for investment and wealth-management practitioners and advocates,” he said.

The CIMA certification process requires candidates to have a minimum of three years of professional experience, pass an exam and meet eligibility requirements across the four ‘E’s: experience, education, examination and ethics.

In addition, all candidates must attend and complete an executive education program offered in conjunction with one of the following: the Investment Management Research Program of PortfolioConstruction Forum and the University of Technology Sydney; the Wharton School, at the University of Pennsylvania; the University of Chicago Booth School of Business; or Yale School of Management.

In Australia, PortfolioConstruction Forum is IMCA australia’s preferred education provider, and is responsible for managing and delivering the CIMA certification program and continuing education.

CIMA certification requires proof of continued competency through completion of 40 hours of ongoing education every two years. In addition, IMCA australia enforces adherence to IMCA’s Code of Professional Responsibility through disciplinary rules and procedures, which a professional review board administers.

Both IMCA australia (soon to be the CIMA Society of Australia) and PortfolioConstruction Forum are official media partners of Investment Magazine and its sister publication Professional Planner.

In other news at the conference on Tuesday, IMCA australia bestowed a life membership on Telstra Super chief investment officer Graeme Miller.