Godfrey aims for industry return after IA ousting

Speaking to The Financial Times, he said: “I’ve been in financial services for over 30 years and intend to pursue a career in the investment management sector.”

He also said he stood by the proposals that led to contention among the IA and some of its members.

Last month Mr Godfrey left the organisation after its board informed him that he no longer had their support.

Two of its biggest members including M&G and Schroders threatened to leave the trade body – while many others were rumoured to be considering an exit - as a result of Mr Godfrey’s reform proposals, which included greater transparency on fund charges.

Godfrey is sticking by his views, according to the report.

“Investment managers are paid by someone else to act on their behalf.

“I see no philosophical reasons for there to be any tension between the idea of championing the interests of consumers in investment management and the interests of the investment management industry itself.”

Looking ahead, Mr Godfrey believes the current backdrop of the sector offers a world of opportunity.

“There’s a massive prize for the UK investment management industry if it can do well,” he says. “Auto enrolment. Pensions liberalisation. These are bringing millions of individuals to the services of investment managers who never were before.

“No one can be better placed to do this than the UK industry,” he told the FT.

Since Mr Godfrey’s departure, the IA’s director of risk, compliance and legal Guy Sears has stepped into his role on an interim basis while the organisation looks for a permanent replacement.

This month Mr Godfrey will begin a monthly column in the paper’s Saturday consumer supplement FT Money where he hopes to “demystify some of the key issues” involved in investing.