UK - The UK's Investment Management Association, the asset management trade body, has named Robert Jenkins as its new chairman.

Jenkins, former chief executive and current non-executive chairman of F&C Asset Management, will take the role for a two-year term from next May. He will take over from succeed Simon Davies, chief executive of Threadneedle Asset Management.

Before F&C, Jenkins spent 16 years with Citibank and five years at Credit Suisse.
The IMA is the trade body for the UK's £2.8trn asset management industry. 

It says: "The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs. Our role is to represent the industry and promote high standards."

Elsewhere, the Office for National Statistics said that investment by insurance companies, pension funds and trusts was almost £28bn in the most recent quarter.

It said: "Total net investment by these institutions was £27.8bn in the third quarter of 2006, £4.2bn higher than the figure for the second quarter."