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IFM adds to leadership

IFM Investors strengthened its leadership by appointing a former politician as an executive director in its UK business.

The industry super-owned global asset manager appointed former British Labour MP and Shadow Minister of State for Pensions Gregg McClymont as executive director of its public affairs efforts.

McClymont's role with the fund manager will see him assume responsibility for its engagement with community, government and regulators within Europe.

"Gregg McClymont will be a strong contributor to our aspiration to protect and grow the retirement savings of the 50 million people around the world on whose behalf we invest," IFM global head of external relations David Whiteley said.

McClymont joins the fund manager from the UK's largest profit-to-member defined contribution fund, The People's Pension. There, he served as director of policy and external affairs. A former Oxford Fellow, McClymont is also the co-author of three volumes on global pension system design.

Separately, the fund manager recently hit back at the claims of a conflict of interest within its business and the demand for an APRA investigation into industry funds by Standing Economics Committee chair Tim Wilson.

In a letter to Wilson, IFM Investors chair Greg Combet asked for a wider investigation spanning retail and wholesale managed funds.

"The media reports regarding your referral to APRA and ASIC do not clearly indicate that the sought for investigation will include bank-owned retail funds - which were the locus of misconduct in the Royal Commission, and were found to systematically underperform by the Productivity Commission," Combet wrote.

Read more: IFM InvestorsAPRAGreg CombetTim WilsonBritish Labour MPDavid WhiteleyProductivity CommissionRoyal Commission
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