Newton Investment Management CEO Helena Morrissey is to chair the new organisation arising from the merger of the Association of British Insurers (ABI)’s investment affairs division and the Investment Management Association (IMA).
Morrissey (pictured) will become the first chairman of the organisation when the merger completes on 30 June, replacing outgoing IMA chairman Douglas Ferrans.
Ferrans has been chair of the £5trn trade body for asset managers for the past four and a half years.
The merger, first announced earlier this year, will also see the IMA change its name to the Investment Association at the start of 2015, with Daniel Godfrey remaining as chief executive.
“Our merger with the ABI’s Investment Affairs team means that together we cover the entire range of investment issues on behalf of our clients, whether they are domestic or international individuals, discretionary managers, life companies, pension funds, family offices or sovereign wealth funds,” Godfrey said.
Chairman-elect Morrissey, CEO at Newton since 2001, added: “The Investment Association will have a vital role in helping the asset management industry do the best possible job it can for the millions of individuals whose savings we invest.”