The merger between Autif and the Fund Managers' Association is set to go ahead on February 1, with the new body to be called the Investment Management Association.
Autif director general Rich-ard Saunders will head the IMA as chief executive. Current Autif chairman, Standard Life Investment's head of mutual funds Alan Burton, will chair the trade body, with FMA chairman and Barclays Global Investors chief executive Lindsay Tomlinson taking the post of deputy chairman.
The IMA's board will comprise a combination of members from the current Autif and FMA executive committees, including Fidelity vice-chairman Barry Bateman, M&G chief executive Michael McLintock and Zurich Scudder chief executive Simon Davies.
The new body will have two executive committees – the inv-estment fund committee and the asset management committee. The investment fund committee will chaired by Burton and will principally cover the retail side of the industry, looking at issues such as product regulation, tax wrappers and disclosure. The asset management committee will be chaired by Tomlinson and will mainly cover issues surrounding the institutional management.
The IMA will represent institutional and retail fund companies with assets totalling more than £2trillion.
Burton says: “We are speaking with a single voice now, which we think give us more power with the regulator, and as an organisation.”