The Pensions Management Institute president has put to bed hopes of a merger between his organisation and the National Association of Pension Funds.
Last year, the NAPF and the PMI announced the two bodies were in talks with a view to a potential merger.
However, today (30 January), Paul Couchman, PMI president, said: “The due diligence processes undertaken raised no issues or concerns on either side.
“However, after careful review by the PMI Board and its Council, we have decided that PMI is best placed to pursue its strategic objectives as an independent organisation.”
He also said that the discussions had been “extremely positive” between the two organisations.
Ruston Smith, NAPF chairman, said: “It is with disappointment that we make today’s announcement.
“We must, however, respect the PMI’s decision not to pursue this opportunity.”
The announcement marks the end of a process to consider the merger that began in October 2014.
