London lobby group founder to lead UK fund trade body
Chris Cummings will become the chief executive of the Investment Association in the second half of 2016.
The IA's members, which include M&G and Schroders, manage a combined £5.5trn in assets.
Guy Sears has been serving as interim head of the IA since Daniel Godfrey was forced out in October last year.
Godfrey found himself at loggerheads with certain fund managers who disliked what they saw as his aggressive reforms.
Cummings launched TheCityUK in June 2010. The organisation has since evolved into a major champion of the UK's financial industry.
In a statement on Tuesday, Cummings said he believes the UK's asset management industry has the opportunity to adopt a “greater role in society" by generating wealth for millions of people and providing long-term financing for British businesses.
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