The UK’s Investment Association (IA) said its CEO Chris Cummings will step down from his role in June 2026 following 10 years in the post.

The IA champions the UK’s investment management industry. Its 250 members manage £10 trillion of assets.

Recruitment for a new CEO will begin imminently.

Chair of the IA Board, and Executive Vice President and Head of EMEA for State Street Investment Management, Ann Prendergast said: “On behalf of the IA Board, I would like to extend our thanks to Chris Cummings for his dedicated service to the investment management industry.

“Under his leadership, the IA has navigated the industry through a period of substantial change, including Brexit and the global pandemic.

“He has successfully championed the role of industry in driving economic growth and leading the way in innovation, while staying true to its central purpose of serving clients. I know all in the industry will wish him all the best for the future.”

Cummings said: “The investment management industry is truly the jewel in the crown of the UK’s financial services sector, and it has been a great privilege to lead the IA for the past decade.

“I’m extremely proud to have overseen the IA’s growth into wealth management, private markets, and especially fintech, where we have played a central role in driving technological innovation, through the creation of IA Engine and our work on tokenisation and AI.

“The industry has shown it can attract the best talent from around the world while also growing its own, and I am particularly proud of the work of Investment20/20 in bringing in a rich diversity of talented individuals.

“Thank you to those across the industry and my exceptional team including, IA colleagues, Board members, and Chairs, whose dedication and expertise have made my ten years with the IA such a positive experience.”