Invesco's Andrew Schlossberg Appointed Chair of ICI
WASHINGTON — The Board of Governors of the Investment Company Institute (ICI) has elected Andrew Schlossberg, who serves as President and Chief Executive Officer of Invesco Ltd., as its new Chair. This signifies a pivotal moment for the institution as it seeks to enhance the standards and services provided to individual investors in an ever-evolving market.
Leadership Transitions at ICI
Alongside Schlossberg, George H. Walker, the Chairman and Chief Executive Officer of Neuberger Berman, will take on the role of ICI's Vice Chair after successfully completing a two-year term as Chair. This transition in leadership underscores the ongoing commitment of both executives to advance the mission of ICI in serving the asset management industry.
Schlossberg’s Vision for the Future
Expressing his gratitude, Schlossberg remarked, "Having served on the Board of Governors for several years, I am honored to be named Chair. I will work closely with my fellow leaders to ensure our focus remains on strengthening the industry’s capabilities to serve individual investors effectively. I am looking forward to embracing innovation and addressing the challenges that the evolving landscape presents for our stakeholders." His vision emphasizes collaboration among leaders within the industry.
Acknowledgment of Past Leadership
ICI President and Chief Executive Officer Eric Pan has expressed excitement about Schlossberg's appointment, stating, "Andrew leads one of the most prominent asset management firms globally. His announcement as Chair signifies our community’s strength and dedication toward personal involvement from notable executives like Andrew and George. I am particularly grateful for George's leadership during his term and glad he will continue as Vice Chair." This partnership is expected to significantly benefit the institute during this transformative period.
Impact on the Asset Management Industry
The asset management industry stands to gain tremendously from this leadership change. Schlossberg highlighted the necessity for ICI to continue shaping the policies and regulations that govern asset management, focusing on prioritizing investor needs during a time of rapid innovation and market opening.
New Members of the Board
In addition to the leadership changes, ICI has welcomed several new Governors to the Board throughout the past year, enhancing the diversity and expertise within the organization. New members include Bob Chersi, Independent Director at Thrivent Funds, Greg Frost, President at Hartford Funds, and Jenny Johnson, President and Chief Executive Officer at Franklin Templeton, among others. These additions are expected to bring fresh perspectives to the ongoing initiatives led by ICI.
About the Investment Company Institute
Founded in 1940, ICI serves as the leading trade association for more than 29,000 regulated funds globally. The organization’s robust research capabilities, coupled with its comprehensive legal analysis and policy expertise, position ICI to engage effectively with regulators and policymakers across various jurisdictions. This engagement aims to ensure that effective regulations are in place, benefiting the asset management industry and individual investors alike.
Furthermore, ICI actively communicates with retail investors on the advantages of regulated funds and advocates before legislators to enhance awareness around the benefits of these funds.
Frequently Asked Questions
Who is Andrew Schlossberg?
Andrew Schlossberg is the President and Chief Executive Officer of Invesco Ltd., recently elected as Chair of the Investment Company Institute (ICI).
What is ICI?
The Investment Company Institute (ICI) is a leading trade association representing regulated funds worldwide, focusing on effective regulation and investor education.
What did Schlossberg say upon his election?
Schlossberg expressed honor in being named Chair and emphasized his focus on serving individual investors and adapting to market innovations.
Who serves as Vice Chair at ICI?
George H. Walker, CEO of Neuberger Berman, has been elected as the Vice Chair of ICI, succeeding his term as Chair.
What are the goals of ICI under new leadership?
The goals include maintaining high industry standards, adapting to changes in the market, and prioritizing the needs of individual investors.
