Schroders group chief executive Peter Harrison has been appointed chair of the Investment Association (IA).
Harrison (pictured) will take the role in May, alongside Andrew Formica, chief executive of Henderson Group, who will become deputy chair of the board. The pair will each serve for a two-year fixed term.
‘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,’ said Harrison.
IA chief executive officer Chris Cummings said: ‘The UK asset management industry plays a key role in ensuring the financial health of the nation, helping people to save for the future, providing crucial investment to businesses and improving the economy for all and it is also one of the UK's star export industries, so it is important that it has a strong trade association to help it deliver on these important goals.’
He added he was delighted with the appointments and thanked Helena Morrissey for what he described as her ‘tireless and outstanding contribution’ on behalf of the IA during her time as chair.