The fund managers' trade body, the Investment Association, has appointed career civil servant John Owen as its new chief executive to replace outgoing CEO Chris Cummings.
The IA says that Mr Owen is an experienced policy leader who has built a “distinguished career” in the public and private sectors at senior levels.
He arrives with many years of experience of financial services, regulation and public policy and has a track record of leadership, the IA said.
He spent 20 years in the UK civil service, taking a series of senior roles in the Treasury, the Cabinet Office and the Deputy Prime Minister’s Office.
From 2022 to 2025, he was director for financial services at the Treasury, where he helped set the direction for domestic financial services policy and led the delivery of the UK’s post‑Brexit regulatory regime.
Earlier on his roles included deputy director for financial services at the Treasury, chief of staff to the Cabinet Secretary and positions in housing, strategic policy projects and the centre of government. He worked closely with ministers and senior officials, the IA said.
More recently, he has been working as a partner in EY’s Financial Services Risk Consulting practice, advising firms on regulatory strategy and risk.
The remuneration package for Mr Owen has not been disclosed but according to the Investment Association annual report for 2024 (the latest available) Mr Owen’s predecessor Chris Cummings had a remuneration package of £1.267m.
Mr Owen said: “I am honoured to have been appointed as the next chief executive of the Investment Association. I have seen first-hand the value the IA brings in convening the investment management industry and strengthening our collective voice to deliver positive change in the UK and internationally.
“Despite an uncertain global backdrop, I believe we have the capability to seize the right opportunities to support our sector and contribute to economic growth and financial resilience of households in the UK and beyond.”
IA board chair, and executive vice president and head of EMEA for State Street Investment Management, Ann Prendergast said: “John brings the experience to progress the Investment Association’s strategic priorities, including encouraging more people to invest, driving innovation, and supporting dialogue between policymakers, regulators and industry to ensure the UK remains a competitive, world-leading centre for investment management.
“The board was unanimous in its decision to appoint John. We were impressed by his deep understanding of the policy environment in which we operate and ability to navigate complexity to focus on delivery and believe he is well-placed to help the Investment Association continue to develop and serve its members.”
Chris Cummings, chief executive of the IA, said: “It has been an honour to lead the Investment Association for the past decade. I now look forward to handing on the baton to John and wish him every success in leading this exceptional organisation.”