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Investment Association appoints four new industry leaders to its Board

Wednesday 19th September 2018

The Investment Association (IA), the trade body that represents UK asset managers, has today appointed four new Directors to its Board, bolstering its industry leadership and increasing its gender diversity.

The appointments nearly double the female representation on the IA Board from just over 20% to almost 40% and reflect the IA’s commitment to increase diversity throughout the industry.

Peter Harrison, Chairman of the Investment Association, said:
“I am delighted to welcome Caroline, Michelle, Hanneke and Dan to the IA’s Board of Directors. Their perspectives and experience will enable the IA to remain an authoritative voice for the asset management industry. I would like to pay tribute to the contribution of those retiring Directors, who have given us many years of service. Their wisdom and experience have helped to build the IA into the organisation of influence that it is today.”

Chris Cummings, Chief Executive of the Investment Association, said:
“The Board of Directors sits at the heart of the IA and it is essential that we have a diversity of backgrounds and perspectives around the table. We know that firms with diverse management teams make better decisions, so I am particularly pleased that we have been able to increase the diversity of our Board with these four new appointments."

Joining the Board effective immediately are:

Caroline Connellan, Chief Executive - Brooks Macdonald Group
Caroline Connellan joined Brooks Macdonald in April 2017 from HSBC where she was Head of UK Premier and Wealth. Prior to this she held a number of senior corporate roles and gained extensive experience in the wealth and asset management sector as a consultant at McKinsey. Caroline started her career as a Fund Manager with Newton Investment Management.

Michelle Scrimgeour, Chief Executive Officer, EMEA - Columbia Threadneedle Investments
Michelle Scrimgeour joined Columbia Threadneedle Investments in 2017 as Chief Executive Officer, EMEA. Michelle is also a member of the executive leadership team of Ameriprise Financial (NYSE: AMP). She was previously Chief Risk Officer at M&G Investments and prior to that had an extensive career at BlackRock (previously Merrill Lynch Investment Managers and Mercury Asset Management) where she was a member of the European Executive Committee and prior to that held a number of roles across the business and across asset classes.

Hanneke Smits, Chief Executive Officer - Newton Investment Management
Hanneke Smits joined Newton Investment Management (IM) in 2016 as CEO. She was previously Executive Committee Member and Chief Investment Officer at private equity firm Adams Street Partners. Hanneke is Chair of Impetus-PEF, a venture philanthropy organisation which backs charities that aim to transform the lives of disadvantaged young people. She is also co-founder and former Chair of Level 20, a not-for-profit organisation set up in 2015 to inspire women to join and succeed in the private equity industry.

Dan Watkins, Chief Operating Officer, EMEA – J.P. Morgan Asset Management
Dan Watkins joined J.P. Morgan Asset Management in 1997 and oversees the business infrastructure of Investment Management in Europe, US and Asia. Dan also performs the role of Deputy CEO of AM EMEA, acting as a director of all the regulated entities across the region.

These new appointments replace four retiring Board members:
Paul Feeney, Quilter
Andrew Formica, Janus Henderson
Andrew Laing, Aberdeen Standard Investments
Mark Zinkula, Legal & General Investment Management


Notes to Editors

  • Board appointments are made for a three-year term, after which members may retire or seek re-election.
  • There are 18 Directors on the IA Board.
  • The IA is a signatory of the Women in Finance Charter which seeks to build greater gender balance at all levels in financial services firms.
For more information contact:

Anisha Patel, Head of Communications: anisha.patel@theia.org
T +44 (0)20 7269 4635

Ben Rathe, Senior Communications Manager: ben.rathe@theia.org
T +44 (0)20 7269 4655

About the Investment Association (IA):

  • The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and employ around 100,000 people across the UK
  • 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:

o Build people’s resilience to financial adversity

o Help people achieve their financial aspirations

o Enable people to maintain a decent standard of living as they grow older

o 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 35% of all assets managed in Europe.