The Investment Company Institute (ICI) announces the launch of ICI Global, a new trade organisation to focus on regulatory, market and other issues for global investment funds, their managers and investors;
the first trade body to focus exclusively on global fund industry.
ICI Global members will include regulated U.S. and non-U.S. based funds publicly offered to investors in jurisdictions worldwide, making it the first industry body to focus exclusively on the perspective of globally active funds.
The new organisation will be based in London.D
an Waters, Former FSA Senior Regulator, Appointed Managing Director; Jamie Broderick, Head of J.P. Morgan Asset Management in Europe, to Chair the Steering Committee.
Dan Waters will be the Managing Director of ICI Global. Waters comes to the newly created organisation following a long international career in regulation, including 12 years at the United Kingdom’s Financial Services Authority (FSA), where he directed asset management policy.
Waters will lead ICI Global’s international funds work from the London office.
Jamie Broderick, Head of J.P. Morgan Asset Management in Europe, will chair ICI Global’s Steering Committee.
“ICI Global will seek to advance the common interests and promote public understanding of global investment funds, their managers, and their investors as market and regulatory issues increasingly cross borders,” said Paul Schott Stevens, ICI President and Chief Executive Officer.
“It will build upon and expand ICI’s long-standing international advocacy on issues that affect millions of investors worldwide.”
“Dan Waters brings exceptional knowledge of global fund regulatory issues,” Stevens noted.
“He has gained wide respect as a member of the international regulatory community, in which he served for over two decades.
He is well known throughout the fund industry and national and regional fund associations, with which ICI Global will work closely. Dan will be an outstanding leader for this groundbreaking initiative.
So too will Jamie Broderick, who brings enormous business experience and policy understanding to his role as head of the ICI Global Steering Committee.”
Commenting on his new position, Waters said, “Global funds and fund managers face a complex array of regulatory and policy challenges.
Finding appropriate global solutions for these challenges requires the capacity to look beyond national and regional approaches to focus on genuine, value-adding global answers.
ICI Global is uniquely placed to take up this challenge. I am absolutely delighted to be leading this exciting and important work.”
“ICI Global responds to a rapidly growing transnational environment for global investment funds,” said Broderick.
“As financial markets converge and funds’ activities become more global, regulators are increasingly coordinating their efforts internationally.
Funds need a strong and informed source on issues that cross borders to inform the policy agenda worldwide.”
