In reference to the Financial Conduct Authority’s Asset Management Market Study, he said the business was well-placed to compete with its actively managed strategies while offering lower-cost, passive alternative through its derivatives business.
“More generally, we welcome the FCA’s desire to focus the industry more closely on investor outcomes. It is obviously consistent with the approach we take to engaging with clients. But more importantly it is good for the industry in general as it should improve client confidence.”
He also paid tribute to chairman Paul Bradshaw, who died last month.
Faulkner said in the statement: “Paul was a strong presence in the firm since we created River and Mercantile Group and through the subsequent IPO. He had been a very engaged Chairman and his contribution to the development of this firm cannot be overstated. Our thoughts and prayers are with his wife and family at this difficult time.
“Paul was a friend of mine for 20 years, and I know that he loved being Chairman of this company and held it in very high regard, and that is a testament to the great work our people do. We will miss him.”
