Structured group picks Lloyds head as chairman

The UK Structured Products Association has elected Lloyds Banking Group head of distribution Jamie Smith as chairman.

Smith, who takes over from Legal & General head of business development James Harrington, will hold the role until the end of 2012.

He joined Lloyds in 2007 from Barclays Wealth where he worked in structured product sales for nine years from 1998 to 2007.

He says: “I would like to recognise the hard work of my predecessors, Zak de Mariveles and James Harrington, who have very quickly made our association the one voice of the UK structured products industry.

“The members of the association all agree that more can, and should, be done to educate intermediaries and investors and the UK Structured Products Association will seek to drive this education leading up to the implementation of the RDR.”

The UK Structured Products Association was established by structured products providers and distributors to promote the use of the investments.

Lowes Financial Management managing director Ian Lowes says: “James Harrington did a good job and helped raised awareness of structured product issues. It would be good to see Jamie Smith carry on the good work.”