Harrison is group chief executive at Schroders.
He is replacing the outgoing Helena Morrissey who is stepping down in order to take up a role at Legal & General Investment Management, which already has a representative on the board.
The IA has also appointed chief executive of Henderson Group Andrew Formica as deputy chair of the board from 1 May. Both will serve two-year fixed terms.
Harrison said: “As the incoming chair of the board of the Investment Association, I look forward to continuing to work closely with [CEO] Chris Cummings and the rest of the team. 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.”
Formica added: “I am passionate about the positive role asset management plays in delivering value for its clients, and the Investment Association is an important part of making sure the industry is able to deliver the best possible outcomes for savers and investors.”
“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,” said Cummings. “That’s why I am delighted that the board is today able to announce the appointment of two directors with years of experience running household-name asset managers to these important leadership roles. I would like to offer thanks on behalf of the Investment Association to Helena Morrissey for her tireless and outstanding contribution to the industry in her time as chair.”
