Investment Management Taskforce launches to accelerate growth across the economy

12 February 2026, London: The first meeting of the Investment Management Taskforce took place today, bringing together senior policymakers at the Treasury and Financial Conduct Authority, industry executives, as well as the Investment Association, to look strategically at how the industry can drive growth and competitiveness within the UK economy. 

The Taskforce is chaired by Lucy Rigby KC MP, Economic Secretary to the Treasury, with the FCA represented by Simon Walls, Interim Executive Director for Markets. Thirteen of the UK’s leading asset and wealth managers will also sit on the Taskforce, including representatives from: Aberdeen, BlackRock, Blackstone, Fidelity International, J.P. Morgan Asset Management, Jupiter Asset Management, L&G, M&G Investments, Royal London Asset Management, Schroders, St. James’s Place, State Street Investment Management and Vanguard.

Designed to foster collaboration between government, regulator and industry, the Taskforce will look at progress made against the government’s Financial Services Competitiveness and Growth Strategy, with a strong focus on encouraging further retail investment across the UK.

The Taskforce will oversee specific workstreams to drive progress in the most crucial areas. The first to be established will look at the significant opportunities offered by technology. Chaired by Jon Cleborne, Head of Europe at Vanguard, this workstream will take forward the fund tokenisation work completed by the previous iteration of the Taskforce, with the aim of making the UK the global digital investment centre.[1]

Commenting on the announcement, Lucy Rigby KC MP, Economic Secretary to the Treasury, said: “I am very pleased to launch the Investment Management Taskforce with industry leaders, the FCA and the Investment Association. 

“This is about unlocking the next wave of growth: using the UK’s strength in investment management to get more capital into productive assets, boost retail investment, and keep the UK as one of the best places in the world to invest and do business.” 

Chris Cummings, Chief Executive of the IA, said: “The Investment Management industry is an indispensable part of the economy, managing over £10 trillion of assets and championing the UK through investing £1.6 trillion in the economy and supporting 123,000 jobs. The Taskforce is a signal of the importance that this government places on our industry and our role in their wider economic agenda.

“With a dedicated technology workstream, the Taskforce will accelerate progress in an area where the UK has a genuine opportunity to lead internationally by developing a worldclass digital ecosystem. The IA is proud to work closely with HM Treasury and the FCA to ensure that the Taskforce delivers practical benefits for industry, investors and the wider UK economy.”

Ann Prendergast, Chair of the Investment Association and Head of EMEA at State Street Investment Management, comments: “For decades, investment managers operating in the UK have played a role at the very heart of the economy, facilitating the capital flows that businesses need to succeed and helping foster growth for the country at large. Our industry stands at a crossroads, faced with significant opportunities and potential challenges alike in the near future.

“Against this backdrop, I heartily welcome the formation of the Taskforce and the clear efforts of the UK government to engage directly with the sector. By helping all parts of the investment ecosystem to work more effectively together, we’re best placed to ensure that standards and industry practices alike evolve in keeping with the changing landscape, maximising the opportunities represented by trends such as digitisation and the democratisation of investment products. Through these efforts, and by working in partnership, we can make sure that the industry is well positioned to continue to thrive at the heart of the UK’s financial services ecosystem for years to come.”

Jon Cleborne, Head of Europe at Vanguard and Chair of the technology workstream, said: “Technology is at the heart of how the industry can deliver superior outcomes and experiences for UK investors – breaking down barriers for those taking their first steps from saving to investing and supporting those already invested. The UK has a real opportunity to lead globally in digital retail investment, broadening access and strengthening the entire ecosystem. The cross‑industry taskforce will work closely with market participants, regulators and government to drive the innovation needed to unlock this ambition and deliver meaningful benefits for consumers.”

                                                                                         ENDS

Notes to Editors

Full list of Investment Management Taskforce members:

• HM Treasury: Lucy Rigby KC MP, Economic Secretary to the Treasury
• Aberdeen: Jason Windsor, CEO
• BlackRock: Sarah Melvin, Head of UK & Europe and Chair of Africa
• Blackstone: Rashmi Madan, Senior Managing Director and Head of EMEA in Private Wealth
• Fidelity International: Keith Metters, President
• Financial Conduct Authority: Simon Walls, Executive Director
• Investment Association: Chris Cummings, CEO
• J.P. Morgan Asset Management: Patrick Thomson, CEO, EMEA
• Jupiter Asset Management: Matt Beesley, CEO
• L&G: Eric Adler, CEO
• M&G Investments: Joseph Pinto, CEO
• Royal London Asset Management: Hans Georgeson, CEO
• Schroders: Richard Oldfield, CEO
• St. James’s Place: Mark FitzPatrick, CEO
• State Street Investment Management: Ann Prendergast, Executive Vice President and Head of EMEA region
• Vanguard: Jon Cleborne, Managing Director