HSBC GAM CEO Moreau joins IA board

Nicolas Moreau has been appointed to IA's board of directors

The Investment Association (IA) has appointed HSBC GAM CEO Nicolas Moreau to its board of directors as one of two new members, following the departures of Schroders CEO Peter Harrison and HSBC GAM's Joanna Munro.

Rachel Elwell, chief executive of Border to Coast and whose background is in institutional investment and pensions, has been appointed by the IA to its board alongside Moreau (pictured).

The appointments were made at the IA AGM meeting today (16 September) and will take effect immediately, it said.

Moreau became chief executive of HSBC Global Asset Management in August 2019 and is the former head of AXA France and Deutsche Bank's DWS unit.

"The investment management industry plays a vital role in helping savers invest for their future, and in building strong and sustainable communities, and, as the UK starts to re-build its economy, it's more important than ever that we play our part in the financing of the post-Covid world," Moreau said.

Chris Cummings, chief executive of the IA, welcomed Elwell and Moreau to the board of directors "at this moment of change and evolution for our industry".

He added: "Each will bring their unique experience and perspective to the board and I look forward to their support and challenge as the IA helps the industry navigate the changes ahead.

"I'd also like to thank Peter and Joanna for their time, expertise, and good guidance over the years."

Munro, who is global CIO at HSBC GAM will now join the IA's investment committee.

Board members usually serve three-year terms but may seek re-election after their term is complete.