Efama, the European Fund and Asset Management Association, has announced that its director general Peter De Proft is stepping down after 11 years in the role, with a new DG to be appointed by early 2019.
The announcement came at the Association’s annual general meeting, which took place in Cyprus.
De Proft has been heavily involved in shepherding Efama’s response to the significant growth in regulation that occurred in the wake of the global financial crisis. He will remain an honorary DG to the Association and will advise the new DG during a transition period after an appointment has been made, Efama stated.
Also noted during the AGM by William nott, president of Efama, is the growth in Europe’s investment assets, which reached €15trn through 2017. Assets have increased by 95% since 2007, or the equivalent of a 7% compound annual growth rate.
He said that Ucits and AIFs “will remain leading savings vehicles” going forward.
Also under discussion at the AGM were the proposals for a pan-European personal pension product and the European Commission’s launch of a strategy on sustainable finance, the Capital Markets Union project, the reviews of ESAs – the European supervisory authorities, and Priips.
