EFAMA widens corporate membership to influence Brussels
Growth in the European Fund and Asset Management Association’s (EFAMA) corporate membership base will position the body better to influence Brussels, says its head.
In the past six months, EFAMA’s corporate membership grew by approximately 20%, amounting to 53 members in March.
Some of the biggest names in asset management and private banking within Europe are among the new members, including Banque Privée Edmond de Rothschild SA, F&C Asset Management plc, Investec Asset Management Limited, Man Group Plc, Royal London Asset Management and Russell Investments.
Director General of EFAMA Peter De Proft said the wider representation of the body given by including corporate members alongside national member associations will give it more traction in Brussels.
“Their contribution will be invaluable as we seek to broaden our industry representation and the expertise upon which we can draw,” he said.
“With the centre of regulation shifting towards Brussels, it is important that a broader range of stakeholders understand the impact of new regulations as well provide greater technical input to their formulation.
“This will lead to better regulation at national and cross-border levels,” he added.
EFAMA’s associate membership, which includes mainly law firms and auditors, has also reached a total of 17 since it was formed in September 2010.
EFAMA has 26 national association members and one observing national association. Through its entire membership base, the European fund management body represents €13.5trn.