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Investment Association appoints Peter Harrison to lead board

Wednesday 15 February 2017

The Investment Association today announces that Peter Harrison has been appointed as Chair of the organisation's Board.

Mr Harrison, the Group Chief Executive of Schroders PLC, will adopt the role from May 1.

The organisation also today announces that Andrew Formica, Chief Executive of Henderson Group PLC, will become Deputy Chair of the Board from May 1.

Mr Harrison and Mr Formica will both serve a two-year fixed term as leaders of the Investment Association Board.

It comes as the current Chair, Helena Morrissey, will step down from the Board on May 1 as she joins Legal & General Investment Management, which already has an Investment Association Board representative.

The Board wishes to thank Ms Morrissey for her outstanding contribution to the Association and the asset management industry in her tenure as Chair.

Peter Harrison, Group Chief Executive, Schroders PLC and Chair-elect of the Investment Association Board, commented:

"As the incoming Chair of the Board of the Investment Association, I look forward to continuing to work closely with Chris Cummings and the rest of the team. 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."

Andrew Formica, Chief Executive, Henderson Group PLC and Deputy Chair-elect of the Investment Association Board, commented:

“I am passionate about the positive role asset management plays in delivering value for its clients, and the Investment Association is an important part of making sure the industry is able to deliver the best possible outcomes for savers and investors.”

Chris Cummings, Chief Executive Officer, the Investment Association, commented:

"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 and 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 that the Board is today able to announce the appointment of two directors with years of experience running household-name asset managers 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."

- ENDS -

For further information, please contact:

John Kenchington
Director of Communications
M 07834 089 332

Linsey White
Head of Media Relations
T 020 7269 4635
M 07508 724 022

Alex Hogan
Communications Manager
T 020 7269 4620
M 07508 724 066

Notes to Editors:

The Investment Association Board is comprised of 17 non-executive representatives selected from the Association's membership and the Chief Executive Officer of the Association, Chris Cummings.

On January 18 2017 it was announced that Aviva Investors Chief Executive Officer Euan Munro had joined the Board, replacing Invesco Perpetual Chief Executive Mark Armour who retired from the firm at the end of last year.

A full list of current Investment Association Board members can be viewed on the Investment Association's website.

About the Investment Association:

  • The Investment Association is the trade body that represents UK investment managers who manage over £5.7 trillion on behalf of clients
  • 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.