The trade body representing asset managers, the Investment Association (IA), is merging with careers provider Investment20/20 in a bid to drive diversity in the investment management industry.
Both bodies will combine their expertise and resources to expand industry efforts to make investment management more accessible and attractive to people from a wide range of backgrounds.
Investment20/20, which was co-founded by fund manage Nichola Pease, focuses on hiring apprentices from state schools and encouraging people from diverse backgrounds to consider a career in the finance sector.
Though Investment20/20 will retain its own brand, it will also turn its focus to growing its successful trainee programme and improving grassroots engagement with school leavers and graduates.
Together, the organisations will develop new projects to improve returnship, enrich career entry into the sector at all stages, attract people to change careers and equip young professionals with essential leadership skills.
“We want to build on the excellent track record of Investment20/20 to date and ensure greater diversity is firmly at the heart of the investment industry," said Chris Cummings, CEO of IA. "By joining forces, we can provide more firms access to Investment20/20s services.
"A diverse workforce and a strong pipeline of talent are key to the success of any forward-looking industry, helping businesses to encourage innovation and new ideas.
"Our industry must also better reflect the customers it serves and that means raising awareness of careers within our sector and proactively growing an inclusive workforce.”
Karis Stander, managing director of Investment20/20 added: “Joining forces with the IA gives us the reach and scale to get in front of tomorrows workforce.
"Our industry makes a significant contribution to society and provides tremendous opportunities so it is vital that we build a strong pool of talent for the future with young people from all backgrounds to reflect the rich and diverse makeup of the UK.”