The Association of British Insurers (ABI) is set to merge its investment division with the Investment Management Association (IMA) to more effectively lobby on issues affecting asset managers.
The merger includes the ABI’s Institutional Voting Information Services (Ivis) which gives advice to fund managers on how to use voting powers at company meetings.
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Both the trade bodies in a statement said that the final stages of the discussion are still ongoing, and will result in the creation of an organisation, with a new name and a new chairman.
According to a Sky News report IMA chief executive Daniel Godfrey will head the new organisation.
The report added that about a dozen people will move from the ABI to the IMA’s new incarnation.
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