The Treasury’s Asset Management taskforce has had its remit extended and will now look at the "opportunities" arising from the UK’s departure from the EU.
The additional focus was announced by the Treasury this morning (February 19).
Alongside the new remit came five new appointments to the taskforce.
These were Caroline Connellan chief executive of Brooks Macdonald, Michelle Scrimgeour, chief executive of Columbia Threadneedle, Cuan Coulter executive vice president and head of EMEA at State Street, Patrick Thomson chief executive EMEA at JP Morgan Asset Management, and Helen Dean, chief executive at NEST.
John Glen, minister for the City, said: "Asset managers own over a third of all UK-listed companies, and the sector is an essential component of the UK’s economic engine.
"Now is the time to focus on what it is the sector needs to fully realise the global opportunities that Brexit offers.
"Stewardship and responsible investment is an area the UK has yet to fully take advantage of, so I’ve challenged the taskforce to find ways in which we can tap into that growing market and enhance our position as a world leader in asset management."
The taskforce was established in 2017 to improve dialogue between the City and the government.
david.thorpe@ft.com
