UK trade bodies merge investment affairs divisions

Helena-MorrisseyThe investment affairs division of the Association of British Insurers will merge with the Investment Management Association to cover the entire range of investment issues.

Newton Investment Management’s chief executive officer Helena Morrissey (pictured) will become the chairman of the new Investment Association at the end of June.

Following the merger, the Investment Association will cover the investment issues of domestic and international individuals, discretionary managers, life companies, pension funds, family offices and sovereign wealth funds.

Morrissey will replace Douglas Ferrans, the existing chairman of the Investment Management Association, who held the role for four and a half years.

Otto Thoresen, director general of the Association of British Insurers, will retain his role.

The merger will complete at the end of June and the name will change at the beginning of next year.

Morrissey, chairman-elect, says: “The Investment Association will have a vital role in helping the asset management industry do the best possible job it can for the millions of individuals whose savings we invest.”

©2014 funds europe