Helena Morrissey CBE, the chief executive of Newton Investment Management, will be the chairman replacing existing IMA chairman Douglas Ferrans who steps down after four and a half years.
The name change to The Investment Association will take effect at the beginning of 2015.
“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,” Morrissey said. “I am delighted to be taking over the Chair at this time, when the need for people all around the world to make provision for their futures has never been greater,” she added.
“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,” IMA chief executive Daniel Godfrey said.
“Merging the ABI and IMA investment activities will create a strong new voice for the asset management industry as a whole,” said Otto Thoresen, ABI director general. “Insurers remain a crucial part of that and we look forward to continuing to work closely with The Investment Association,” he added.