London: The World Gold Council (WGC) has today announced that Aram Shishmanian will be stepping down as Chief Executive Officer next year after 10 years of leadership.

Mr. Shishmanian has been CEO of the WGC since January 2009. Under his leadership, the market development organisation has promoted fundamental changes to gold policy in key markets such as China and India, as well as setting new standards in areas such as responsible gold mining and Shari’ah compliant gold investing.

During his time as CEO, the organisation has helped modernise market infrastructure to make gold a mainstream financial asset. It has also introduced new gold investment products to enable gold ownership to become ubiquitous.

David Harquail, Chair of the WGC, said “It has been an absolute pleasure working with Aram over the years.  Aram’s vision for the World Gold Council has transformed it into a highly influential organisation, breaking down barriers and developing a more dynamic and effective gold market globally. Aram enjoys strong support from the Board, and we thank him for his constant energy and commitment.”

Mr Shishmanian said: “The World Gold Council plays a pivotal role in increasing demand and expanding the market around the world; it has been a privilege to lead it. Over the past decade we have witnessed; central banks increasing their allocations to gold, the shift from West to East as Asian markets have grown rapidly, and an increasing number of investors turning to gold to enhance their financial security.

“Looking ahead, the World Gold Council has never been more needed. It is a powerful force in our industry, seeking to increase demand for gold, protect gold’s value and relevance on the global stage.”

Mr Shishmanian will remain in his role until the second half of 2019. The search for Aram’s replacement is already underway, to ensure a smooth transition.