The Investment Association has announced a restructure of its divisions following last week’s disbanding of its regulatory affairs unit.
The trade body will now be made of three internal divisions focusing on “the most important areas of focus for the organisation”, namely business support and promotion, product and services, and sustainable investments and capital markets.
No jobs will be cut following the reshuffle.
The IA is currently split into six different areas: risk, compliance and legal; policy, research and statistics; taxation; markets and sectors; regulatory affairs; and corporate governance.
The IA scrapped its regulatory affairs unit in an attempt to cut costs after three of its biggest members revealed plans to quit the trade body this year.
The head of the regulatory affairs unit, Richard Metcalfe, as well as a member of his team left as a result of the unit’s disbandment.
At the time of the announcement, the trade body said the regulatory activities would be overseen by its “core” teams.
Of the new restructure, IA interim chief executive Guy Sears says: “The ever-growing need for people to save into investments is a huge opportunity for our industry but it also brings with it a weighty responsibility as more and more people rely on asset managers.
“The new structure is about bringing all of our resources to bear on the three most important areas of focus for the organisation – helping our member firms to succeed, creating the best environment for products and services so they can deliver for clients and ensuring markets and investments deliver long-term, sustainable returns.