The fund managers’ commerce physique – the Funding Affiliation – has appointed Patrick Thomson, CEO, EMEA, of JP Morgan Asset Administration, as its new chair.
Mr Thomson, at the moment deputy chair, will take up his new function main the 18-strong board on 27 September.
He’ll exchange former Aberdeen Normal Investments CEO Keith Skeoch.
Mr Skeoch stated: “It has been an incredible privilege to function the chair of the board of the IA. Our trade’s pivotal function within the UK economic system helping enterprise development and serving to UK savers meet their objectives has by no means been extra wanted. I
“I’ve been proud to play my half by serving to the trade via the Coronavirus pandemic, in addition to championing the function of modernising stewardship, in order that we are able to create long-term sustainable worth that advantages companies, communities, and the setting.”
Mr Thomson stated: “It’s an honour to have been chosen as chair of the IA’s board throughout this necessary interval of change for the trade, as we search to assist savers and traders navigate inflationary headwinds, a cost-of-living disaster, a difficult geopolitical backdrop in addition to absolutely perceive the long run implications of local weather change.”
Chris Cummings, chief govt of the IA, stated: “I’m delighted to welcome Patrick Thomson as chair of the IA’s Board. Patrick is a well-respected enterprise chief and held in excessive esteem by his friends, making him well-placed to champion our trade.
“As deputy chair, he has steadily represented the IA and spoken on behalf of the trade at conferences with policymakers and regulators within the UK and internationally, and he’ll deliver this expertise and international connections to the function.
“I might additionally wish to pay tribute to Keith Skeoch, who has efficiently guided the IA via the challenges of the Coronavirus pandemic, invasion of Ukraine, and quickly rising inflationary setting. He has been a powerful and considerate voice talking up for the funding administration trade, and one which has been heeded by authorities.”