In a bid to reassure its stakeholders following, what interim CEO, Guy Sears, termed an ‘unsettling’ week in which it lost both its CEO and two of its largest members, Morrissey said: “While our overall remit and focus remains on highlighting the important role that asset managers play in terms of addressing the pensions and savings needs of individuals, supporting the growth of companies and contributing to the UK economy; there is a need to consult on how the Association prioritises against a packed agenda for the industry.”
According to Sears, who will head up the review of the association’s priorities, in the short term, he will be focused “on the opportunities and responsibilities that come from Pension freedoms, the impending competition review from the FCA and our commitment to ensure capital markets are not only free from abuse but positively work well for investors.”
Hitting back at comments that the recent tumult is counter to claims that the industry would like to see more transparency, Morrissey said: “The Association’s members have always been conscious of their responsibilities in looking after other people’s money and recent events should not put that in doubt.
Reassuring the body’s commitment to Godfrey’s Pounds and Pence disclosure project, she added: “Nothing has changed our collective commitment to putting customers first and, as part of that, to effective, transparent and competitive delivery to the millions of savers who depend upon the services we provide. The Board reaffirms its commitment to supporting positive change in the interest of members’ clients. In particular, it will continue the work already done to ensure that consumers receive clear comparable information on which they can make good investment decisions.”
