America’s ICI fund body holds first meeting in Europe

The Investment Company Institute (ICI), the Washington-based US trade association for funds, is holding an executive committee meeting in Europe for the first time this week.

The ICI, which was founded in 1940 as the National Committee of Investment Companies, said the decision to hold its Board of Governors executive committee meeting in London was a further sign of the trade body increasing its global scope.

Chaired by George CW Gatch, who is chief executive of JP Morgan Asset Management’s global funds and global institutional business, the committee is responsible for evaluating policy measures and business matters and making recommendations to the Board.

Other members of the executive committee include Mortimer J “Tim” Buckley, chairman and chief exectuvie of Vanguard, and William F “Ted” Truscott, chief executive of Columbia Threadneedle Investments.

The committee is comprised of chief executives and other top executives of global asset managers and several independent directors from US fund boards. 

ICI launched ICI Global in 2011 to carry out the organisation’s international programme and to increase its representation of regulated funds globally. The body opened an office in London and also has an office now in Hong Kong.

Membership includes regulated funds publicly offered to investors in jurisdictions worldwide, with total assets of US$28.5 trillion.

The meeting was due to take place Thursday (7th).

©2019 funds europe

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