Former Association of Investment Companies director-general Daniel Godfrey is to join the Investment Management Association as chief executive, replacing Richard Saunders.
Godfrey will take over as chief executive from 1 December, with Saunders remaining at the IMA until the end of 2012.
IMA chairman Douglas Ferrans says: “Our objective was to find an individual capable of leading the IMA in the most challenging environment we have ever seen and we believe that Daniel has the integrity, experience and skills necessary to achieve that.
“The board would also like to put on record our appreciation of Dick’s achievements over the last decade at the helm of our association and to offer him our good wishes for his future.”
Godfrey was director general of the AIC for 11 years and also chaired the Personal Finance Education Group between 1999 and 2003.