Former chief executive of the Investment Management Association Richard Saunders has joined the board of Investec Asset Management as non-executive director.
Saunders had spent more than a decade leading the UK trade body, whose members collectively manage £4.2 trillion (€4.9 trillion) of assets on behalf of clients.
Non-executive directors are seen as increasingly important to corporate governance. Their role is to scrutinise management, ensure that financial information is accurate, and that financial controls and systems of risk management are robust and defensible.
They also often determine appropriate levels of remuneration for executive directors.
In January, Funds Europe reported that John Misselbrook, the former chief operating officer of Baring Asset Management, was among three non-executive directors to be appointed at Aviva Investors.
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