Standard Life Aberdeen CEO Keith Skeoch has been appointed chair of the Investment Association (IA) board.

The IA champions the UK asset management industry. Its 250 members manage £7.7 trillion of assets and the asset management industry supports 115,000 jobs across the UK.

Michelle Scrimgeour, CEO of Legal & General Investment Management, and Patrick Thomson, CEO for EMEA of J.P. Morgan Asset Management, have been appointed deputy chairs of the IA.

The three will assume their roles on May 1, 2020.

Skeoch succeeds Schroders CEO Peter Harrison. Scrimgeour and Thomson replace Skeoch as deputy chair.

Investment Association CEO Chris Cummings said: “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.

“I am delighted that Keith, and Michelle and Patrick, have been appointed as the new chair and deputy chairs of our board.

“Their fresh perspectives and senior business experience will be invaluable in the years ahead.

“I would also like to pay tribute to Peter Harrison, who has been an inspirational chair of the IA and who has helped build it into the organisation of influence that it is today.”

Skeoch said: “The asset management industry plays key roles in allocating capital to businesses and infrastructure projects, engaging with companies on ESG 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 Investment Association and look forward to working with Chris Cummings and his team to ensure the industry continues to focus on delivering for clients, investors and the UK economy.”