The bosses of Schroders and Henderson are taking on new positions at fund management body the Investment Association.
Schroders’ group chief executive Peter Harrison will be chair of the organisation’s board, while Henderson’s chief executive Andrew Formica will be his deputy.
They will take up their positions on 1 May and serve two-year fixed terms.
Harrison will replace current chair Helena Morrissey, who is due to join Legal & General Investment Management, which already has a representative on the board. She was previously chief executive of Newton Investment Management.
Schroders’ Harrison said:
Our industry is experiencing a period of significant change and it is important we work together to ensure we meet our responsibilities to clients and deliver value to them over the long-term.
I am passionate about the positive role asset management plays in delivering value for its clients, and the Investment Association is an important part of making sure the industry is able to deliver the best possible outcomes for savers and investors.