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In his new role Mr Simon will be part of the council representing US members of Aima, and will also help the body in its new partnership with the Managed Funds Association, of which he is a member.

Mr Simon has been co-president of Ivy Asset Management since January 2000, and is responsible for the firm’s strategic planning and the management of its overall business. He serves on the firm’s investment committee as an advisory member.

Florence Lombard, chief executive of Aima, said: “As well as benefiting from Mr Simon’s strategic input at board level, his unique position within both associations will enhance the development of a closer working relationship with the MFA. Mr Simon is an ideal figure to take on this position because of his central position in the industry, and we are excited about the level of expertise and experience he will bring to our activities.”