IMA chief Saunders to stand down

Richard Saunders, chief executive of the Investment Management Association, is to step down at the end of 2012.

"After 11 years in this role I feel it is time for me to move on. It has been a great privilege to work with a first-rate team at the IMA and I am very proud of what we have achieved together since the association was set up in 2002," Saunders said. "I know that my successor will be taking charge of an organisation in very good shape to meet the challenges of the coming years." Saunders was appointed director general of the Association of Unit Trusts and Investment Funds (AUTIF) in May 2001, and oversaw the creation of the IMA in February 2002, when the retail-focused AUTIF merged wit...