Global funds body enlarges team with FSA hire

Newly created worldwide funds trade body ICI Global has hired Giles Swan from the UK’s Financial Services Authority to be its director of global funds policy.

ICI Global, launched last month to lobby legislators on behalf of investment funds around the world, appointed Giles Swan from the UK’s FSA to help promote links between the industry and policy-makers, it said in a statement.

“ICI Global is gearing up to engage with the critical global fund issues of the day,” said Dan Waters, managing director of ICI Global. “Giles’s expertise and experience, and his excellent relationships with the fund management industry and regulatory policy makers will be a senior addition to the ICI Global team.”

Swan joins after more than six years at the FSA. At the UK regulator, he initially supervised asset management firms before extending his remit to include the supervision of a major life insurance group’s Asian, US and European businesses, the statement said.

He led negotiations for the FSA at the European Parliament during the creation of the Alternative Investment Fund Managers Directive, and has chaired one of the four ESMA Task Forces tasked with implementing the AIFMD.

He will report to Waters, a former colleague at the FSA, and begins work in January.

The Investment Company Institute (ICI) launched ICI Global last month, with its aim to focus on regulatory, market and other issues for global investment funds, their managers, and investors. It is based in London. Jamie Broderick, head of JPMorgan Asset Management in Europe, chairs ICI Global’s steering committee.