Abrdn CEO Stephen Bird has joined the Investment Association’s board of directors, replacing outgoing director Hanneke Smits, CEO of BNY Mellon Investment Management.

The Investment Associatio represents the UK investment management industry. Its 270 members manage £9.4 trillion of assets and the investment management industry supports 114,000 jobs across the UK.

Edinburgh-based Abrdn manages and administers about £540 billion of assets.

Investment Association chair Keith Skeoch said: “It is with great pleasure that I welcome Stephen to the IA’s board of directors.

“Stephen’s focus on customers, his experience in technological transformation, and his global outlook will be a great complement to our board’s strengths, particularly as our industry navigates complex domestic and international challenges.

“I would also like to extend my thanks and gratitude to Hanneke for her dedicated service over the last three years and look forward to her remaining a friend to the board.”

Bird said: “Investment management plays a vital role supporting millions of people to save for a more financially secure future.

“Technology, demographics and economic shifts are combining to create significant challenges, and opportunities, for the industry, and the IA has a critical role to play.

“I am pleased to be joining the board at what is an important time.”