The Financial Accounting Foundation has appointed investor and asset manager Ann Spruill to its Board of Trustees, effective Jan. 1, 2014.

She succeeds Vice Chairman Dennis Kass, and will serve a five-year term as trustee of the FAF, which oversees both of the major accounting standard-setters in the U.S., the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

“The Board of Trustees is pleased to welcome Ann as its newest member,” said FAF Chairman Jeffrey Diermeier, in a statement. “Her extensive background in investing, asset management, and finance will add significant value to the trustees as we work to support the FASB and the GASB in establishing and improving financial reporting and accounting standards.”

Prior to her retirement in 2008, Spruill was a partner at GMO & Co., a private institutional asset management firm, where she also served on the risk and audit committee and the compensation committee. Before joining GMO, she was a portfolio manager and senior vice president at Fleet Financial Advisors. She is currently a trustee of Harbor Funds, and of the University of Rhode Island, and well as a member of the investment committee of the Museum of Fine Arts in Boston, and chair of its global equities committee.

A graduate of the University of Rhode Island, Spruill also completed the course work for a Ph.D from Boston University.