The Irish Association of Investment Managers (IAIM) has announced in a press release the appointment of former Minister of State with Responsibility for Financial Services Michael D’Arcy as its new CEO. He will work closely with IAIM Chairman, John Corrigan, on the development of the IAIM strategic plan in the context of the challenges and opportunities facing the investment management industry.
The IAIM stated that in his role as CEO, D’Arcy will be responsible for re-setting the IAIM agenda and priorities, given the changing landscape post-Brexit. His role will entail growing the presence of IAIM and the voice of investment managers in the context of the broader domestic financial service sector and helping to promote Ireland worldwide as a pre-eminent destination for investment management firms.
He will also be responsible for leading the contribution of the IAIM around key areas, such as sustainable finance and ESG, collaborating with the other key local and international stakeholders.
Corrigan said that they are “delighted” with D’Arcy’s appointment and pointed out that the industry is growing exponentially in Ireland, a trend they expect to continue. “This is our first step in onboarding the necessary expertise and competencies to face the challenge”.
“Ireland is one of the world’s leading centers for investment management, and the industry is uniquely positioned to play an integral role in the economic and social recovery post-COVID-19. However, we need to ensure that the regulation, policies and joined-up industry thinking in Ireland support this growth”, he added.
In his view, we are moving into “unchartered waters” in a post-Brexit environment, both domestically and internationally, and Ireland has “a once in a generation opportunity to make real changes and be at the very heart of new initiatives” such as ESG and sustainable financing.
Meanwhile, D’Arcy believes that crucially now there is a “huge opportunity” for Ireland, as the UK exits the EU, to help shape the future agenda of not just investment managers and firms where these is considerable growth potential, but even more broadly for the funds industry as a whole and become a global center for the industry.
“In that regard Ireland will need to continue to develop its skills base, and the promotion of education and training will be key in equipping students with the required skillsets, as will be the need to create a greater awareness among graduates and school leavers of the industry’s diverse employment opportunities. In my role as CEO, a vital goal will be in helping to make Ireland the premier destination for the advancement of sustainable and Green finance, and to form strong links and grow our relationships abroad”, he said.
Half of the top ten global investment managers have operations in IAIM, with its members and associate companies in Ireland managing over €1 trillion in assets.
For Clara Suarez
For Funds Society, Madrid