Standard Life Aberdeen boss Keith Skeoch confirmed as new chair of Investment Association

Standard Life Aberdeen chief executive Keith Skeoch has been appointed as the new chairman of the Investment Association (IA), whose members manage some £7.7 trillion of assets.

Michelle Scrimgeour, chief executive of Legal & General Investment Management, and Patrick Thomson of JPMorgan Asset Management have been appointed deputy chairs, in a move to bolster the body’s “long-term strategic direction and industry leadership”.

Skeoch said: “The asset management industry plays key roles in allocating capital to businesses and infrastructure projects, engaging with companies on environmental, social and governance issues and importantly helping millions of people achieve their long-term financial objectives.

“I am honoured to be appointed chair of the board of the IA and look forward to working with [chief executive] Chris Cummings and his team to ensure the industry continues to focus on delivering for clients, investors and the UK economy.”

Cummings added: “The board sits at the heart of what we do at the IA and ensures we remain focused on the priorities of the industry and those it serves.

“Given the pace and scale of the changes faced by our industry, here in the UK and internationally, it has never been more important to have a strong voice speaking up for the investment management industry.”

He added: “I would also like to pay tribute to [outgoing chairman] Peter Harrison, who has been an inspirational chair of the IA.”