‘Driving force’ reappointed as UK Spa chairman

The UK Structured Products Association has reappointed Zak de Mariveles, managing director of UK IFA sales at Société Générale, as its new chairman with immediate effect, FTAdviser can reveal.

Mr Mariveles joined Société Générale in February 2012 as head of UK adviser sales. He previously worked for the Royal Bank of Scotland as global banking and markets structured product director.

Mr Mariveles will take over from Jamie Smith, head of distribution at Lloyds Banking Group.

Mr Smith has led the trade body for the last two years. At the time of his appointment he credited his predecessors, Mr Mariveles and James Harrington, with turning the association into the leading voice for the UK structured products industry.

Ian Lowes, managing director of Lowes Financial Management, told FTAdviser: “Zak was the first chairman and essentially the driving force and founder [of UK Spa].”

Current UK Spa membership includes Citi, Credit Suisse, Deutsche Bank, Investec, Legal & General, Morgan Stanley, Prudential, Royal Bank of Scotland, Santander, Skandia and Société Générale.

The UK Spa was launched in 2009 to provide a voice for the retail structured products industry with the purpose of educating the investment community. following the Lehman’s crisis.

The UK Spa and Mr Mariveles were unavailable for comment.