Chancellor Meets Fund Giants For Post-Brexit Strategy Talks

Hammond met with representatives of BlackRock, Fidelity, Jupiter, LGIM and RLAM on Wednesday (19 December) as part of the government and Investment Association's (IA) Asset Management Taskforce (AMT), Investment Week understands.

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With less than 100 days to Brexit remaining, the IA meeting, which marked the beginning of the AMT's second year, saw attendees discuss how the UK asset management industry can remain competitive in a post-Brexit world.

In addition, external markets of interest for the sector, including the US, Switzerland and Hong Kong, were discussed with regard to how the UK industry could build closer ties with them.

The Chancellor spoke with industry members about the barriers to entries for these markets and how best to promote the UK to them.

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Also in attendance was IA chief executive Chris Cummings and Economic Secretary to the Treasury John Glen, as well as representatives from the Financial Conduct Authority and other investor groups.

The meeting also saw attendees discuss the AMT's priorities going forward, including skills, socially responsible investing, stewardship and fintech, via the IA's Velocity programme.