Bruce Kovner and Lee R. Raymond were named chairman and vice chairman, respectively, of AEI's Board of Trustees at its December 12 meeting.

"Bruce Kovner is a true intellectual," AEI president Christopher DeMuth noted. "His extraordinary success with a highly intellectualized approach to investing gives some of us hope for a possible alternative career in the future. Lee Raymond is one of America's most admired and successful chief executive officers, leading a firm whose forthright and honest approach to public policy issues makes it a model of true corporate citizenship."

Kovner, who had served as vice chairman for the past two years, is also the chairman of Caxton Associates, LLC, a diversified trading company and manager of hedge funds active in the currency, interest-rate, petroleum, commodity, and equity markets. He serves as the chairman of the Juilliard School in New York. Kovner is also the founder and chairman of the School Choice Scholarships Foundation, which provides scholarships to low-income students in New York City. 

Raymond is the chairman and chief executive officer of Exxon Mobil Corporation, one of the world's three largest publicly traded companies. Raymond serves on many boards, including those of J. P. Morgan Chase & Co. and the United Negro College Fund.