The UK’s Investment Association has announced the appointment of Peter Harrison as chairman of the board. Harrison, the group chief executive of Schroders, will start in the role on May 1 when current chair Helena Morrissey steps down.
The organization also announced that Andrew Formica, chief executive of Henderson Group, will become deputy chair from the same date. Harrison and Formica will both serve a two-year fixed term.
‘Our industry is experiencing a period of significant change and it is important we work together to ensure we meet our responsibilities to clients and deliver value to them over the long term,’ says Peter Harrison.
Chris Cummings, CEO of the Investment Association, adds: ‘The UK asset management industry plays a key role in ensuring the financial health of the nation, helping people to save for the future, providing crucial investment to businesses and improving the economy for all. It is also one of the UK’s star export industries, so it is important that it has a strong trade association to help it deliver on these important goals.
‘That’s why I am delighted the board is today able to announce the appointment of two directors with years of experience running household-name asset management firms to these important leadership roles.
‘I would like to offer thanks on behalf of the Investment Association to Helena Morrissey for her tireless and outstanding contribution to the industry in her time as chair.’
