IIMI expands into Europe following talks in Brussels.
IIMI is now a Europe-wide body. IIMI’s new European members represent some of the Continent’s most high-profile independent asset management firms and bring the total assets managed by the organisation’s members to in excess of £250 billion.
Since its inception in 2010, IIMI has successfully furthered the message that independent, entrepreneurial firms do not pose the same risk to the economy as big banks and as such should not be treated the same by regulators.
IIMI has produced two highly lauded policy papers and work on a third is underway. It has made several submissions to the FSA, the House of Lords and the Independent Commission on Banking and its Patron is the Lord Mayor of London. Given the increased focus on the future of pan-European financial regulation, in 2011 IIMI also met with representatives of the European Commission to discuss the regulation of the independent asset management sector.
IIMI left this meeting convinced that in order to have a voice in the future of European regulation, it would be essential to go beyond national borders and enter into direct dialogue with EU regulators. The expansion of IIMI’s membership to include seven French firms represents an unprecedented step toward furthering relations between financial entrepreneurs in the UK and on the Continent. IIMI aims to further extend its European reach and is in early stage discussions with potential new members from Italy and Germany, among others.
With its newly expanded membership base, “IIMI Europe” aims to enhance its profile among regulators as a strong, credible voice for financial entrepreneurs across Europe. Organised as a think tank comprised of practitioners, not as a trade body, IIMI is uniquely placed to help Brussels develop practical solutions to complicated financial issues.
Derek Laud, Director of IIMI said:
“Very few organisations have adopted a pan-European approach to influencing financial regulation. In taking this step, IIMI has created an unparalleled body for the independent asset management sector and a unique source of professional knowledge.
The EU has consistently shown that it does not understand the independent asset management sector in Europe. With an international membership, we hope to correct that by taking our message directly to Brussels and raising the industry’s profile in a way that national organisations are incapable of doing.”