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ICMA Asset Management and Investors Council (AMIC)
 

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A credible voice for the international investment community at a time of unprecedented change in the global asset and wealth management industry.


The International Capital Market Association (ICMA) established the Asset Management and Investors Council (AMIC) in 2008.

The AMIC:
  • Discusses macro level industry and regulatory issues.
  • Identifies and offers solutions to practical issues for members at a technical level.
  • Proposes market-led initiatives in response to the challenges it has identified.
  • Provides a coordinated response to the authorities, which is representative of the views of its cross-border membership from the international asset management and wealth management industry.
  • Has established pro-active relationships with regulatory authorities at national, European and international level in a world where the regulatory authorities are increasingly moving from a national to an international remit.
  • Works to ensure that authorities fully understand the consequences of any regulatory proposals for the asset management and wealth management industry.
  • Establishes partnerships and actively works with other industry groups to ensure a coordinated approach. The AMIC has an inclusive and international perspective; it respects the work of the various national associations and specialist industry bodies, and works with them on specific topics.

AMIC – the difference

There are many existing trade associations on the buy-side, but AMIC seeks to differentiate itself by its cross-border international perspective, its connections with its parent ICMA’s sell-side capabilities, and its combination of both asset owners and asset managers within the same forum.

The AMIC’s distinctive features are:
  • Focus on cross-border issues that affect the international asset management and wealth management industry and institutional investors globally.
  • Membership open to all sectors of the industry including: asset managers, fund managers, private banks, hedge funds, pension funds, insurance companies, alternative investment managers, institutional investors and sovereign wealth funds.
  • An independent voice for the buy-side with many opportunities for engagement with ICMA’s sell-side members.

Working groups

AMIC members are invited to engage directly with specific areas of its work programme through its working groups. At present there are working groups on Covered Bonds, Solvency II, Private Banking, Asset Encumbrance and Long-Term Investments. Other working groups are established from time to time to meet market and regulatory developments and the needs of members. On Shadow Banking the AMIC is actively engaged with regulators in the current debate over new regulation, responding to international and European consultations.


Key achievements
  • The AMIC has responded to European and national consultations on reforming corporate governance with a specific focus on shareholder engagement and remuneration policy and has helped to shape the debate in this area.
  • In the rapidly growing European covered bond sector, the Covered Bond Investor Council (CBIC) has published a template of the key information required by investors in covered bonds to make better informed investment decisions and sought the buy-in of issuers.
  • A landmark report on Exchange Traded Funds, including a description of different types of ETFs and the current state of the ETF market, has contributed to the industry’s engagement with regulators by giving a clear picture of future developments in the ETF market and stressing the value of the ETF 'brand'.
  • The ICMA Private Wealth Management Charter of Quality, which draws together the standards adopted by the private banking industry in a single document, has been signed by The Luxembourg Bankers’ Association and is being promoted via other National Associations.
  • The AMIC has issued a paper, “Managing Client Expectations”, that recognises and addresses the asset management industry’s reputational issues.
  • The AMIC has published two reports on money market funds providing an overview and statistical data of these instruments in Europe. The reports recommend introduction of standardisation and, more importantly, clarification of the definition of money market funds.
  • The AMIC has issued recommendations on valuation governance arrangements for funds, including valuation of complex products such as asset-backed securities and structured products.
  • All papers and regulatory responses are available from the Asset Management area of this website.
The Council

All AMIC members are equally represented on the AMIC Council which meets regularly to discuss broad industry issues and guides the AMIC Executive Committee on the choice of projects and working groups. The AMIC Council holds plenary sessions and conferences regularly, which combine a discussion forum with a conference and networking opportunities for the AMIC community.


The Executive Committee

The AMIC Executive Committee comprises of co-opted members of AMIC, and the chairs of the permanent working groups. It meets quarterly to define workow and priorities following guidance from the AMIC Council.


The current members of the AMIC Executive Committee are:

Robert Parker
Chairman
Credit Suisse

John Nugée
Vice Chairman
AMIC

Patrick Barbe
BNP Paribas

Gianluca Bisognani

IW Bank - UBI Banca Group

Frédéric Bompaire
Amundi

Shoqat Bunglawala
Goldman Sachs Asset Management International

Max Castelli
UBS AG

Chris Cheetham

HSBC Bank plc

Dan Childs
Citadel Securities (Europe) Limited

Henry Cooke

Gryphon Capital Investments Pty LTD

Andreas Denger 
   
MEAG Munich Ergo Asset Management GmbH

Jean-Erik S. de Zagon

European Investment Bank

Roger Hartmann
Chairman of the ICMA private banking working group

Ibrahima Kobar
Natixis Asset Management

Chris Muyldermans    
KBC Bank N.V.Asset Management

Robert Parker
Credit Suisse Securities (Europe) Limited

Torben Moger Pedersen  
 
Pension Denmark Pensionsforsikringsaktieselskab

Tom Rice
PIMCO Europe Limited

Claus Tofte Nielsen
Norges Bank

Andreas Utermann

RCM Ltd (part of Allianz Global Investors (UK) Ltd

Axel van Nederveen
European Bank for Reconstruction and Development

Martin van Steeg
ING Asset Management B.V.

Peter Zoellner
Bank of International Settlements
Abu Dhabi Investment Company (ADIC)
AF2i
Allianz Global Investors
Altana Wealth
Amundi
Aviva Investors France
AXA Investment Managers Paris
Banca d’Italia
Banca Fideuram S.p.A
Bank for International Settlements
Banque Cantonale Vaudoise
Blackrock
BNP Paribas Fortis
Ceska Sporitelna, a.s.
CFA Society of the UK
Citadel Securities (Europe) Limited
Credit Agricole Luxembourg
Credit Suisse Securities (Europe) Limited (Chair)
Danske Bank A/S
Dekabank Deutsche Girozentrale
Deutsche Asset Management (UK) Limited
Edmond de Rothschild (Suisse) S.A.
Espirito Santo Wealth Management
Eurizon Capital SGR Investment Solutions
European Bank for Reconstruction and Development (EBRD)
European Fund and Asset Management Association (EFAMA)
European Investment Bank
Fédéris Gestion d'Actifs
Financial Reporting Council
Fonds de Resérve pour les Rétraites
General Invest
Goldman Sachs Asset Management International
Government of Singapore Investment Corporation
Grant Thornton UK LLP
HSBC Bank plc
ING Asset Management B.V.
Interactive Data (Europe) Ltd
KBC Bank N.V.
KfW
Lyxor Asset Management
Marnier Europe
Meag Munich Ergo AM
Natixis Asset Management
Nordea Bank Danmark A/S
Norges Bank
Pension-Denmark Pensionsforsikringsaktieselskab
Petercam S.A.
Pictet Asset Management
PIMCO Europe Ltd
Pioneer Investments Management Limited
Raiffeisen Kapitalanlage-Ges.m.b.H (RKAG)
Schroders Investment Management Limited
Simmons & Simmons LLP
Solidus Securities SA
The Alternative Investment Management Association Limited (AIMA)
Threadneedle Asset Management
UBS AG
Unione di Banche Italiane Scpa
Verwaltungs-und Privat –Bank Aktiengesellschaft
 
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