View more on these topics

IA: Brexit is ‘biggest single change’ industry has ever faced

Brexit money

The Investment Association’s Jorge Morley-Smith has warned the industry to prepare for “the biggest single change that our industry has ever faced” as Brexit plans get under way.

Morley-Smith, director of business support and promotion, points out that the UK’s asset management industry is larger than Europe’s next three biggest centres of Germany, France and Italy combined, while almost 40 per cent of the IA’s business conducted on behalf of overseas clients.

Morley-Smith does not think the political or regulatory landscape will be disrupted in the immediate aftermath of Brexit, but adds: “Brexit will undoubtedly result in change – whether you see this as either an opportunity or a threat.

“International trade is not just a hallmark of British financial services, it is woven into the fabric of the nation and our industry has a key role to play in future trade deals… The UK’s asset management industry is a global powerhouse and Brexit should not distract us from this.”

Morley-Smith is calling for the investment industry to remain focused on establishing “global leadership in new and growth investment markets”, warning that the future of the industry will be defined by it.

He adds: “Our focus is on articulating the purpose and value of the investment industry, and providing a vision for its future global outlook.”


Chris Davies: The industry is braced for a hard Brexit

The phrase “Beware gurus bearing gifts” is particularly relevant as we head into Brexit. A focus on what the industry itself can influence rather than a reliance on third-party sources will be helpful. Following the Conservative party conference, we now have the latest on when Article 50 will be triggered and what type of Brexit […]


The Govt’s high stakes poker game on Brexit

At the Conservative party conference last week, Theresa May announced she will trigger Article 50 by the end of March 2017 and that a Great Repeal Bill  will be brought forward at the next Queen’s Speech. While some were calling for more time before pressing the big red Article 50 button (notably one Mr George […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. It is probably the biggest single challenge any of us has faced, let alone financial services. It will probably make the 3 day week look like a holiday.

Leave a comment