Just weeks after the fund group rebellion that led to the resignation of former chief executive Daniel Godfrey, the association’s new Business Support and Promotion division – subtitled “to help our members thrive” – is billed as promoting the asset management industry’s interests.
It will help firms to navigate the regulatory and tax landscape while ensuring that “the UK is the country of choice for locating asset management businesses”.
The Products and Services division – “to deliver our clients’ financial goals” – will promote the value of investing for the public good, while assisting firms in meeting “high standards of service and delivery”.
The IA said this division will also “play a role shaping the UK, EU and global regulatory and policy agenda” so firms are able to provide on a cost-effective basis the products and services that meet clients’ needs.
Thirdly, the Sustainable Investments and Capital Markets arm – “To make investing work well for all” – will come with the aim of helping the industry to support the economy with stable, long-term finance; ensuring investors have access to fair and effective markets; embedding the highest standards of sustainable governance in UK PLC.
The changes will further integrate the Investment Affairs division “into the heart of the organisation” following its move to the Investment Association from the ABI in 2014.
“The ever-growing need for people to save into investments is a huge opportunity for our industry but it also brings with it a weighty responsibility as more and more people rely on asset managers,” said IA interim chief executive Guy Sears.
“The new structure is about bringing all of our resources to bear on the three most important areas of focus for the organisation – helping our member firms to succeed, creating the best environment for products and services so they can deliver for clients and ensuring markets and investments deliver long-term, sustainable returns.”
