The United Kingdom as a global centre

Last week saw the launch of the Asset Management Working Group Report, Asset Management: the UK as a Global Centre, which was convened by the Chancellor.

Co-chaired by Alistair Darling and Robert Jenkins, the IMA's chairman, the working group reiterated the importance of financial services to the UK economy. Launching the report, Jenkins noted: "Financial services are a critical component of the UK economy and asset management is a fundamental pillar of financial services." It is a significant failing that the importance of the industry should only become a matter of wider debate after the near collapse of financial markets. If there is one lesson to be learned in the long term, the industry needs to keep emphasising its importance ...