PRESS RELEASE : Economic Secretary re-establishes the Asset Management Taskforce [April 2023]
The press release issued by HM Treasury on 25 April 2023.
City minister re-establishes influential forum convening senior leadership from industry and the FCA to identify and harness the potential of innovative new technologies for the UK asset management industry.
The Economic Secretary’s Asset Management Taskforce has been joined by five new senior executives from the UK’s world-class investment industry, it was announced today (25 April 2023).
Hans Georgeson (CEO, Royal London Asset Management), Mark Murray (Senior Partner, Artemis), Joseph Pinto (CEO, M&G Asset Management), Nick Ring (CEO EMEA, Columbia Threadneedle) and Andrew Telfer (CEO, Baillie Gifford) have joined the Taskforce in the wake of the Chancellor’s Edinburgh Reforms, which aim to drive growth and competitiveness in the financial services sector.
The Economic Secretary has also launched a new Technology Working Group, which will run in parallel to the Taskforce to examine the impact of new technology on the asset management sector. The group – chaired by Michelle Scrimgeour (CEO, Legal and General Investment Management) – will work to articulate the benefits of technology for investors and industry, and will identify the main opportunities presented by technologies including tokenisation, artificial intelligence and distributed ledger technology.
The group’s membership will be drawn from Taskforce members, government and regulators, and wider non-asset management stakeholders. It will hold a series of meetings over the next year and subsequently produce a final report to the Taskforce.
The report will explain the group’s findings and contain guidance and recommendations for government, regulators and industry. Previous reports produced by the Taskforce – on the UK funds regime and on stewardship – have been very successful in progressing their respective agendas.
Andrew Griffith, Economic Secretary to the Treasury said:
“Investment management is of central importance to the UK economy and I am determined to help it continue to flourish.
“The UK is well-placed to take advantage of the opportunities presented by new technology in financial services, and I look forward to the Technology Working Group’s findings with great interest.”
Asset Management Taskforce members
Stephen Cohen, Head of EMEA, BlackRock
Chris Cummings, CEO, Investment Association
Helen Dean, CEO, NEST
Hans Georgeson, CEO, Royal London Asset Management
Sean Hagerty, Managing Director of Europe, Vanguard
Peter Harrison, CEO, Schroders
Catherine Howarth, CEO, ShareAction
Mark Murray, Senior Partner, Artemis
Joseph Pinto, CEO, M&G Asset Management
Anne Richards, CEO, Fidelity International
Nick Ring, CEO EMEA, Columbia Threadneedle
Michelle Scrimgeour, CEO, Legal & General Investment Management
Andrew Telfer, CEO, Baillie Gifford
Patrick Thomson, CEO EMEA, JP Morgan Asset Management
Sarah Pritchard, Executive Director – Markets, Financial Conduct Authority (FCA)
