Daniel Godfrey, former director general of the Association of Investment Companies, will replace Richard Saunders as chief executive of the Investment Management Association (IMA).
The IMA announced in May that Saunders would step down at the end of 2012, having led the association since it was formed in 2002 from the merger of the Fund Managers’ Association and the Association of Unit Trusts and Investment Funds. Saunders will stay on to advise the new chief until the end of the year.
Godfrey spent 11 years in his role at the Association of Investment Companies, the trade body for closed-ended investment companies, leaving the job in 2009. He then spent more than two years at the Phoenix Group, which manages closed life assurance funds.
“The IMA and the industry must identify and do whatever is necessary to earn trust by demonstrating the fundamental qualities of transparency and customer focus on which investment management is based,” says Godfrey.
“Secondly, we need to steer a path through the regulatory agenda so that consumers are properly protected without unnecessary costs or distractions that can only cause detriment by damaging long-term returns.”
©2012 funds europe