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Chris Cummings to join Investment Association as Chief Executive

Tuesday 5 April 2016

The Investment Association (IA) today announces the appointment of Chris Cummings as Chief Executive.

Chris is joining the UK investment industry's trade association, whose members manage a combined £5.5trn in assets, from TheCityUK where he is the founding Chief Executive.

The decision to appoint Chris has been made unanimously by the IA's Board, which includes representatives of 18 British investment managers, and follows the departure of Daniel Godfrey in October 2015.

Chris will succeed Guy Sears, who has served for the past five months as Interim Chief Executive during the search process. Chris is expected to join by the end of the third quarter of 2016.

After spending 7 years as Director General at AIFA, the trade body for financial advisers, Chris launched TheCityUK in June 2010 and the organisation has evolved to being a major champion of the UK's financial and professional services industry and its positive role in the economy.

Helena Morrissey, Chair of the Investment Association, said:

"I am delighted we have secured a Chief Executive of Chris's calibre to take the Investment Association forward. Chris has years of experience helping businesses to deliver the best outcomes for their customers.

"Under Chris's leadership the IA will continue to work with all our stakeholders to serve our members and shape the investment industry to meet the needs of savers.

"The Board would like to thank Guy Sears for his work and achievements as Interim Chief Executive, including the launch of the Productivity Action Plan to boost the British economy and a major pledge to develop a new generation of Disclosure Codes."

Chris Cummings, forthcoming Chief Executive of the Investment Association, said:

"I am very excited to be taking over as Chief Executive of the Investment Association, which plays a crucial part in securing the best outcomes for savers, investment managers and the broader economy.

"I believe the UK's asset management industry has the opportunity to adopt a greater role in society, generating wealth and lifelong financial well-being for millions of people and providing stable long-term financing to help British businesses to grow."

-ENDS-

For further information please contact:

Alex Hogan
Press and Digital Media Officer
T +44 (0)20 7269 4620
M +44 (0)7508 724 066
Alex.Hogan@theia.org

Notes to editors:

Before leading AIFA, Chris advised major clients while at Pricewaterhouse Coopers and Mercer and held senior marketing roles at Sun Life of Canada and PPP. Chris is a regular press columnist and has written two books on financial services regulation. He is a member of the Financial Conduct Authority's Regulatory Decisions Committee and Payment Systems Regulator's Enforcement Decisions Committee. He is a member of Cass Business School's Strategy Board and a Visiting Professor.

About the Investment Association:

  • The Investment Association is the trade body that represents UK investment managers who manage over £5.5 trillion on behalf of clients
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.
  • Our website includes an area for consumers which explains why it’s important to invest and how you can invest in a fund.