Investment Association makes key hire for Brussels expansion

Move would have happened irrespective of Brexit

The Investment Association has hired a head of European affairs as it looks to set up a permanent office in Brussels.

Johannes Woelfing, who has been with the IA for four years, most recently as regulatory and legal specialist, has been promoted to the newly-created position. He will be the IA’s main representative in Brussels, responsible for its EU policy work.

He will also be tasked with setting up a new office in Brussels.

Woelfing has led the IA’s work on macro prudential regulation and financial stability and is a member of Efama’s Financial Stability & Prudential Requirements Working Group.

Before joining the IA, he was a political adviser at the European Parliament and originally trained as a lawyer in Germany.

The trade body’s decision to expand into Brussels is part of a three-year strategy put in place by IA chief executive Chris Cummings when he took over in 2016.

Portfolio Adviser understands the move would have happened irrespective of Brexit.

Cummings said: “With more than £1.4trn of European assets managed in the UK, a figure that is growing every year, it is essential that the IA has a more permanent voice in Brussels that can help represent our industry and the clients they serve at a European level.

“I am therefore delighted to promote Johannes to the new role of head of European affairs at the IA. Johannes’ industry, legal and policy experience within the European Parliament and the IA will be valuable to ensure the asset management industry’s voice is better understood by policy makers and regulators in Europe.”

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