The Investment Management Association has merged with the Association of British Insurer’s Investment Affairs division, bringing the two primary fund manager trade groups under one roof.
Rebranded as The Investment Association (TIA) the body has appointed Newton chief executive Helena Morrissey (pictured) as its first chair from 30 June, replacing outgoing IMA chair Douglas Ferrans, who will step down after four and a half years.
‘Merging the ABI and IMA investment activities will create a strong new voice for the asset management industry as a whole,’ said ABI director general Otto Thorensen.
‘Insurers remain a crucial part of that and we look forward to continuing to work closely with The Investment Association.’
IMA chief executive Daniel Godfrey said the merger, announced in April, meant that for the first time the UK asset management industry would speak with a single voice, increasing coordination on issues of common interest.
‘Our merger with the ABI’s Investment Affairs team means that together we cover the entire range of investment issues on behalf of our clients, whether they are domestic or international individuals, discretionary managers, life companies, pension funds, family offices or sovereign wealth funds
‘Helena Morrissey brings great energy, commitment and vision to enhance all that is good about our industry. I am looking forward to working with her to make investment better for everyone, so investors get better long-term returns, so companies can grow and economies prosper.’