Chris Cummings has been appointed Chief Executive of The Investment Association.
For seven years, Chris Cummings was Director General at AIFA, the trade body for financial advisers.
He replaces Daniel Godfrey who left The Investment Association last October and Guy Sears, who has served for the past five months as Interim Chief Executive during the search process. Cummings will start by the end of the third quarter of 2016.
Cummings joins from TheCityUK where he is the founding CEO.
The Investment Association’s Board, which includes representatives of 18 British investment managers, unanimously decided on appointing Cummings.
Chair of the Investment Association Helena Morrissey said: “I am delighted we have secured a Chief Executive of Chris’s calibre to take the Investment Association forward. Chris has years of experience helping businesses to deliver the best outcomes for their customers.
“Under Chris’s leadership the IA will continue to work with all our stakeholders to serve our members and shape the investment industry to meet the needs of savers.
“The Board would like to thank Guy Sears for his work and achievements as Interim Chief Executive, including the launch of the Productivity Action Plan to boost the British economy and a major pledge to develop a new generation of Disclosure Codes.”
Cummings said: “I am very excited to be taking over as Chief Executive of the Investment Association, which plays a crucial part in securing the best outcomes for savers, investment managers and the broader economy.
“I believe the UK’s asset management industry has the opportunity to adopt a greater role in society, generating wealth and lifelong financial well-being for millions of people and providing stable long-term financing to help British businesses to grow.”