The Investment association (IA) has named Chris Cummings its new chief executive, succeeding Guy Sears who held the interim position for five months.
Previously founder and chief executive of financial and professional services lobby group, TheCityUK, Cummings has held a number of roles in lobbying and regulatory advisory positions.
The decision to appoint Cummings was unanimous, according to the IA. The industry body has been seeking a new chief executive since Daniel Godfrey left in October 2015.
Cummings spent seven years as director general at the Association of Independent Financial Advisers (AIFA), before founding TheCityUK in 2010.
Chair of the IA, Helena Morrissey stressed the importance of his “years of experience helping businesses deliver the best outcomes for their customers.”
She said: “Under Chris's leadership the IA will continue to work with all our stakeholders to serve our members and shape the investment industry to meet the needs of savers.”
Cummings said he believes the “UK's asset management industry has the opportunity to adopt a greater role in society, generating wealth and lifelong financial well-being for millions of people and providing stable long-term financing to help British businesses to grow."
He is expected to join the IA as chief executive by the end of the third quarter of 2016.