The CFA Institute, the global concern that administers the Chartered Financial Analyst examination and credential, has elected its new board of governors.John Stannard, of Russell Investment Group, was elected chairman, while Vincent Duhamel, managing director of Goldman Sachs Asia LLC, will serve as vice chair. Both Stannard and Duhamel will serve one-year terms, effective immediately.

Stannard will head a 21-member board comprised of investment professionals from eight countries: the United States, Canada, Hong Kong, Luxembourg, Australia, the United Kingdom, Switzerland and Singapore.

Stannard also sits on the Advisory Council for the CFA Centre for Financial Market Integrity, the advocacy and research arm of the CFA Institute.

He succeeds Monique E.M. Gravel, first vice president and branch manager at CIBC Wood Gundy in Montreal, who will continue on the board for one year as immediate past chair.

Five new governors have also been elected to the board to serve three-year terms:

* Alida Carcano, managing director for investment advisory at Credit Suisse in Lugano, Switzerland;

* James E. Hollis, managing director for Cutter Associates in Wellesley, Mass.;

* Stanley G. Lee, principal and portfolio manager for David J. Greene & Co. LLC in New York;

* Ashvin P. Vibhakar, director of the Institute for Economic Advancement in the College of Business Administration at the University of Arkansas in Little Rock; and,

* Thomas B. Welch, managing director and regional manager for Wells Capital Management in Minneapolis.

Emilio Gonzalez, of Perpetual Investments in Sydney, and George W. Noyes, of Standish Mellon Asset Management in Boston, were elected to second three-year terms.

Some 10 other governors from seven countries will continue to serve the remainder of their three-year terms on the board.

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