Three directors join the Investment Association Board

Three new directors have been appointed to the Investment Association (IA) Board of Directors.

The Board oversees the IA’s activity and plays an important role setting its key priorities, including maintaining a focus on customers, investing in growth, improving diversity and unlocking technological innovation, while also guiding the wider industry through the changing market environment.

Joining the Board are:

  • Kirstie MacGillivray, Head of Dealing and UK Chief Executive Officer, Aegon Asset Management
  • Nick Ring, Chief Executive Officer, EMEA, Columbia Threadneedle
  • Karen Zachary, Chief Executive Officer, CRUX Asset Management

The new appointees replace Keith Skeoch, Andrew Formica and Philippe d’Orgeval.

The appointments were confirmed at the IA’s Annual General Meeting today, where Patrick Thomson also assumed his role as Chair of the Board.

Patrick Thomson, Chair of the Investment Association Board of Directors, said: “I’m delighted to welcome Kirstie, Nick and Karen to our Board. They will bring insights, expert knowledge and global connections at an important time for our industry as we navigate a cost-of-living crisis, inflationary challenges and ongoing market uncertainty. As the new Chair, I’m looking forward to working closely with our new appointees, and the entire Board, to realise our goal of creating an investment management industry fit for the modern economy.

“I would also like to extend my gratitude to our outgoing members, Keith, Andrew and Philippe, for their dedicated service to the IA Board over their tenures.”

The changes to the Board are effective immediately.

Notes to Editors:

Appointments to the IA board are usually for three-year terms. Board members may seek re-election after their term is complete.

Kirstie MacGillivray is Head of Dealing and UK CEO of Aegon Asset Management. She also chairs its Front Office Governance Committee. Kirstie joined Aegon AM in 2008 from Barrie & Hibbert where she advised companies on risk management of derivatives. Prior to this she was a partner in BCS Asset Management, a global macro hedge fund. Previously she worked for 7 years in equity derivatives sales, initially for Morgan Stanley, and, latterly, for UBS Investment Bank. She started her career at Abbey National Asset Managers as a member of the investment strategy unit. She has over 20 years’ industry experience. Kirstie studied Commercial Law & taxation at Glasgow University.

Nick Ring assumed his current role in September 2019. He is also a member of the Executive Leadership Team at Ameriprise Financial. Nick has over 30 years’ experience in the investment industry across a variety of distribution, product, strategy and general management positions.

Karen Zachary joined CRUX as COO in July 2015 and became CEO on 1 October 2020. Prior to this Karen worked as a member of the senior management team at Man Group as Global Head, Client Operations and Outsourcing. Prior to that Karen was Director of Client Service Operations at Henderson Global Investors. Karen has over 20 years’ experience in Asset Management in both alternatives and traditional products and has spent the more significant periods of her career at Fidelity International (12 years) and New Star Asset Management (9 years). Karen has a Master of Business Administration degree from Durham University.

For further information, please contact:

Katie Martin, Head of Communications: [email protected]

T: +44 (0)20 7269 4655

Clive Booth, Communications Manager: [email protected] 

T: +44 7960 149 200

Camilla Esmund, Communications Executive: [email protected]

T: +44 (0)20 7269 4625

IA press office: [email protected]

T: 020 7269 4696

About the Investment Association (IA):

  • The IA champions UK investment management, supporting British savers, investors and businesses. Our 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
  • Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
  • Our purpose is to ensure investment managers are in the best possible position to:
    • Build people’s resilience to financial adversity
    • Help people achieve their financial aspirations
    • Enable people to maintain a decent standard of living as they grow older
    • Contribute to economic growth through the efficient allocation of capital.
  • The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
  • The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.