UK Investment Association chairperson Helena Morrissey is to step down next summer as her three-year tenure ends, the industry body has confirmed.
Morrissey became chairperson in 2014 following the organisation’s rebrand from the UK Investment Management Association.
Over the course of her tenure, chief executive Daniel Godfrey left in a shock ouster after member firms M&G and Schroders threatened to resign, and Aberdeen Asset Management, Fidelity and Invesco Perpetual announced their involvement with the body was under review.
She also participated in a working group on company pay, which made a number of recommendations on how remuneration could be improved. Recently, the firm published two controversial reports – one on the benefits that asset management has for investors and the UK economy, the other on the ‘myth’ of hidden fees.
In August, Morrissey stepped down from Newton Investment Management after 15 years as chief executive. Hanneke Smits, formerly chief investment officer at private equity firm Adams Street Partners, replaced her. In the months leading up to her resignation, she had been an outspoken advocate of ‘Brexit’.
She is also founder of the 30% Club, a cross-business initiative aimed at achieving 30% women on UK corporate boards. The group failed to succeed in its original goal, of reaching this target by the end of December last year.
A spokesperson for the organisation confirmed to Funds Europe that Morrissey will be stepping down, and that IA chairs sit for a fixed three-year term. Morrissey’s departure was “purely a case of finishing that term”.
©2016 funds europe
