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Author: IIMI Admin
Since the UK voted to leave the EU, the Independent Investment
Management Initiative (IIMI) has been making the case for the
UK to adopt its own globally competitive asset management
regime. In February 2023, the UK Financial Conduct Authority
(FCA) released its latest discussion paper (DP 23/2) – “Updating
and Improving the UK Regime for Asset Management” – as
part of the so-called Edinburgh Reforms, a Government
initiative designed to stimulate growth and competitiveness
in the UK’s financial services industry post-Brexit.
Under the UK’s Financial Services and Markets Bill (FSMB), the
UK Government will be given extensive powers to overhaul,
amend or retain EU regulations as it applies to financial services,
including asset management. The IIMI looks at the latest
FCA discussion paper, and shares its insights on some of the
proposals. As part of this white paper, the IIMI spoke extensively
with its diverse membership of boutique asset managers,
along with a number of external law firms and consultants
Appointment follows the announcement of new Chairman, Sebastian Stewart and seven new Board members earlier this year
The Independent Investment Management Initiative (“IIMI”), a boutique asset management think tank whose membership accounts for approximately £500 billion in client assets, has appointed Dani Hristova as its new Chief Executive Officer. The appointment follows the engagement of seven new Board members as well as a new Chairman, Sebastian Stewart earlier this year, deepening the value that the IIMI can bring to its membership
In her new position, Hristova will work closely with Stewart and the Board to deliver on the IIMI’s refreshed core aims – which includes promoting the strengths of boutique asset managers and helping to shape the industry’s regulatory environment – as well as facilitating commercial opportunities for its growing membership base.
Hristova joins from Nordea Asset Management, where she was responsible for building the firm’s presence in the UK insurance market. This involved developing Nordea’s entry strategy into the insurance sector, as well as representing Nordea within the insurance market more broadly. She previously held positions at Schroders Investment Management and Legal and General Investment Management.
The IIMI provides an independent, expert voice in the debate over the future of the asset management industry, supporting boutique asset managers amidst a backdrop of increasing consolidation and fast-changing regulations. Together with the Board, Hristova will drive the IIMI towards fulfilling its ambition to shape a regulatory environment that supports boutiques, drive best practice and promote the strengths of specialist asset managers.
Sebastian Stewart, Chairman at the IIMI, commented: “Dani has a deep understanding of the challenges that both asset managers and their clients face as we navigate an evolving and increasingly consolidated industry landscape. Dani’s experience and skillset make her very well-placed to help the IIMI’s members promote the strength of investment specialism and innovation, drive best practice and ultimately provide market-leading investment solutions to investors around the world. On behalf of all our members, I also want to thank Toby Illingworth, who has now stepped down as Executive Director, for his significant contribution to the IIMI over the last 10 years.”
Dani Hristova said: “I am delighted to be joining the IIMI as its new Chief Executive Officer. The asset management industry is facing a multitude of complex challenges with respect to changing regulations in a post-Brexit world – mounting cost pressure, responsible capital allocation and ensuring suitable investment solutions are delivering long-term value to clients, to name a few. Having worked for some of the industry’s financial giants, who leverage scale to help address these challenges, it is imperative that smaller, entrepreneurial firms are well-represented as we jointly navigate these industry challenges and focus on the best outcomes for investors. The IIMI raises the voice of entrepreneurial, specialist investment boutiques that are entirely focused on and aligned with the interests of their clients, and I am excited to play an important role in driving the IIMI and its members forward through the next period of the organisation’s growth”
- Dani Hristova joins from Nordea Asset Management, having previously worked at Schroders Investment Management and Legal and General Investment Management
- Appointment follows the announcement of new Chairman, Sebastian Stewart, and seven new Board members earlier this year
The Independent Investment Management Initiative (“IIMI”), a boutique asset management think tank whose membership accounts for approximately £500 billion in client assets, has appointed Dani Hristova as its new Chief Executive Officer. The appointment follows the engagement of seven new Board members as well as a new Chairman, Sebastian Stewart earlier this year, deepening the value that the IIMI can bring to its membership.
In her new position, Hristova will work closely with Stewart and the Board to deliver on the IIMI’s refreshed core aims – which includes promoting the strengths of boutique asset managers and helping to shape the industry’s regulatory environment – as well as facilitating commercial opportunities for its growing membership base.
Hristova joins from Nordea Asset Management, where she was responsible for building the firm’s presence in the UK insurance market. This involved developing Nordea’s entry strategy into the insurance sector, as well as representing Nordea within the insurance market more broadly. She previously held positions at Schroders Investment Management and Legal and General Investment Management.
The IIMI provides an independent, expert voice in the debate over the future of the asset management industry, supporting boutique asset managers amidst a backdrop of increasing consolidation and fast- changing regulations. Together with the Board, Hristova will drive the IIMI towards fulfilling its ambition to shape a regulatory environment that supports boutiques, drive best practice and promote the strengths of specialist asset managers.
Sebastian Stewart, Chairman at the IIMI, commented: “Dani has a deep understanding of the challenges that both asset managers and their clients face as we navigate an evolving and increasingly consolidated industry landscape. Dani’s experience and skillset make her very well-placed to help the IIMI’s members promote the strength of investment specialism and innovation, drive best practice and ultimately provide market-leading investment solutions to investors around the world. On behalf of all our members, I also want to thank Toby Illingworth, who has now stepped down as Executive Director, for his significant contribution to the IIMI over the last 10 years.”
Dani Hristova said: “I am delighted to be joining the IIMI as its new Chief Executive Officer. The asset management industry is facing a multitude of complex challenges with respect to changing regulations in a post-Brexit world – mounting cost pressure, responsible capital allocation and ensuring suitable investment solutions are delivering long-term value to clients, to name a few. Having worked for some of the industry’s financial giants, who leverage scale to help address these challenges, it is imperative that smaller, entrepreneurial firms are well-represented as we jointly navigate these industry challenges and focus on the best outcomes for investors. The IIMI raises the voice of entrepreneurial, specialist investment boutiques that are entirely focused on and aligned with the interests of their clients, and I am excited to play an important role in driving the IIMI and its members forward through the next period of the organisation’s growth”
-Ends-
A picture of Dani is available upon request.
About the Independent Investment Management Initiative (“IIMI”):
The Independent Investment Management Initiative (“IIMI”), formerly New City Initiative (“NCI”), is a member-led industry think tank representing entrepreneurial, specialist investment boutiques that prioritise specialism over scale in delivering the best results to investors. The IIMI provides its members with an expert voice in the debate over best practice and the future of financial regulation, with the aim of building a better future for specialist asset managers.
Founded in 2010, today the IIMI is comprised of close to 40 leading boutique asset management firms from the UK and the Continent, managing approximately £500 billion and collectively employing several thousand people.
Media Enquiries:
iimi@tbcardew.com
Tania Wild, +44 (0)7425 536903
Emma Pascoe-Watson, +44 (0)7774 620415
- The IIMI strengthened by the appointment of seven new Board members
- Core aims redefined: increase engagement with regulators to support boutiques and promote competition, facilitate commercial opportunities and drive best practice across the membership
The Independent Investment Management Initiative (“IIMI”), a boutique asset management think tank whose membership accounts for approximately £500 billion in client assets, has appointed Sebastian Stewart as its Chairman as it embarks on the next phase of its development. The new, strengthened Board has significant and varied experience across the asset management sector, deepening the value that the IIMI can bring to its membership.
The new Board has refreshed its core aims, which are to:
- Shape a regulatory environment that supports boutiques and promotes competition
- Promote the strengths of boutiques and facilitate commercial opportunities for members
- Drive best practice across the membership
Sebastian Stewart has been on the Board of the IIMI since 2017 and became Deputy Chairman in 2019. He is also a Partner and Head of Client Services at Somerset Capital Management LLP, having graduated from the University of Edinburgh with a First-Class degree in Mathematics and Business Studies. He is a CFA charterholder and holds an Executive MBA from Bayes Business School.
The IIMI provides an independent, expert voice in the debate over the future of the asset management industry. Its aim is to help shape a more competitive environment for boutique asset managers which prioritise specialism over scale in delivering the best results for clients. The IIMI’s new leadership, strengthened Board, and ambitious aims and objectives will greatly enhance the services it can offer to its members.
Sebastian Stewart, Chairman at the IIMI, commented: “I’m delighted to take over from Nick Mottram as Chairman after his successful three-year tenure. The IIMI was established to give a voice to boutique asset managers’ interests and help shape the debate on financial regulation and best practice. It is as important as ever that we support the crucial role specialist asset management plays in the financial services sector in the UK and globally. I look forward to working with my colleagues on the Board to build on the excellent work of my predecessors while bringing fresh perspectives to the organisation. We are committed to supporting entrepreneurial specialist asset management firms, which are increasingly important in an industry dominated by global financial giants.”
Under Sebastian’s chairmanship, the new Board will comprise:
- Rose Beale, Responsible Investment Lead at Findlay Park
- Daniel Pinto, CEO of Stanhope Capital
- Charles Scott Plummer, Head of Institutional Solutions at Waverton Investment Management
- Charlotte Yonge, Fund Manager at Troy Asset Management
- Dan Brocklebank, Head of UK at Orbis Investments
- Edward Guinness, CEO of Guinness Global Investors
- Nicole Harrington, COO of Evenlode Investment Management
- Philip Reed, General Counsel at Independent Franchise Partners
- Helme Harrison, Head of Distribution at Tellworth Investments
- Sondre Myge, Head of ESG at SKAGEN Funds
- Toby Illingworth, Executive Director of the IIMI
-Ends-
Pictures of the IIMI Board members are available upon request.
About the Independent Investment Management Initiative (“IIMI”):
The Independent Investment Management Initiative (“IIMI”), formerly New City Initiative (“NCI”), is a member-led industry think tank representing entrepreneurial, specialist investment boutiques that prioritise specialism over scale in delivering the best results to investors. The IIMI provides its members with an expert voice in the debate over best practice and the future of financial regulation, with the aim of building a better future for specialist asset managers.
Founded in 2010, today the IIMI is comprised of close to 40 leading boutique asset management firms from the UK and the Continent, managing approximately £500 billion and collectively employing several thousand people. IIMI Singapore was launched in 2019.
Media Enquiries:
iimi@tbcardew.com
Tom Allison, +44 (0)7789 998020
Tania Wild, +44 (0)7425 536903
Emma Pascoe-Watson, +44 (0)7774 620415
There Independent Investment Management Initiative (IIMI) has appointed Sebastian Stewart as Chairman. He replaces Nick Mottram who has stepped down after completing his three year term in the role.
Sebastian is Head of Client Services at Somerset Capital Management, the specialist Global Emerging Markets investment management firm founded in 2007.
Sebastian graduated from the University of Edinburgh in 2012 with a First Class degree in Mathematics and Business Studies and he joined Somerset in October of the same year. Sebastian is a CFA charterholder.