The Investment Association (IA), the UK investment management trade body, will restructure its divisions following the disbanding of its regulatory affairs unit.
The organisation will now be comprised of three internal divisions focusing on business support and promotion, product and services, sustainable investments and capital markets.
The three divisions will promote the interests of the UK asset management industry nationally and abroad, assisting firms in navigating regulatory and tax obligations, and shape UK and EU regulatory and policy agendas. The IA says the aim is to ensure firms can provide cost-effective products and services that meet client needs.
Previously, the IA was split into six different areas: risk, compliance and legal; policy, research and statistics; taxation; markets and sectors; regulatory affairs; and corporate governance.
The IA has been under pressure recently with the surprise departure of its chief executive, Daniel Godfrey, and with fund management firms M&G, Schroders and St James’s Place planning to quit the organisation.
Guy Sears, IA interim chief executive, says the new structure is about bringing “all of our resources to bear on the three most important areas of focus”, which he says are helping member firms succeed, creating an environment for products and services to deliver targets, and ensure markets and investments deliver long-term, sustainable returns.
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