LONDON Feb 15 Peter Harrison, the chief
executive of Schroders, Britain's biggest listed fund
manager, has been appointed chairman of the country's asset
management trade body.
Harrison will take up the role on May 1 and replace Helena
Morrissey, the Investment Association said in a statement. At
the same time, Andrew Formica, the CEO of Henderson Group
, will take up the role of deputy chair, it added.
The appointments come as the industry grapples with
uncertainty around the impact of Britain's vote to leave the
European Union on their ability to sell mutual funds and other
products across Europe.
A review into the sector by the Financial Conduct Authority
has also raised questions about the services offered by asset
managers to investors, including around fee transparency and
value for money.
"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," Harrison said in the statement.
(Reporting by Simon Jessop. Editing by Andrew MacAskill)