Douglas Ferrans, a former chairman of Insight Investment Management, a subsidiary of Lloyds Banking Group, is to replace Robert Jenkins as chairman of the Investment Management Association (IMA) at the end of 2009.
The IMA, which represents the UK’s £3 trillion asset management industry, said that Ferrans will take the role until the association’s annual general meeting in May 2010. Currently vice chairman of the IMA, Ferrans has been a member of the board since 2005.
Jenkins is leaving the IMA to become CEO and managing partner of Combinatorics Capital, a New York-based global macro hedge fund manager. He has also been appointed adjunct professor at the London Business School and a non-executive director of the Aberdeen All Asia Investment Trust.
“Dougie was the board’s unanimous choice to take up the role. He is eminently qualified to do so. He is both an industry leader and a board director of long standing. I have no doubt that the association will continue to flourish under his leadership,” said Jenkins.
Before taking up his current position as chairman of Invista Real Estate Investment Management, Ferrans was previously chief executive and more recently chairman of Insight from its creation in 2001 until 2008. Sold to Lloyds Banking Group as part of its purchase of the HBOS financial services group, Insight has more than £110bn under management.