Former Irish junior Finance Minister Michael D’Arcy joins IAIM as CEO

The Irish Association of Investment Managers (IAIM) has appointed former Minister of State with Responsibility for Financial Services, Michael D’Arcy as its new CEO.

D’Arcy, who served as an MP for Fine Gael until 2020 before losing his seat in the election, quit his role within the Seanad to take up the position of CEO. He will work closely with IAIM Chairman, John Corrigan on the development of the IAIM strategic plan in the context of the challenges and opportunities facing the investment management industry.

In his role as CEO, D’Arcy will be responsible for re-setting the IAIM agenda and priorities, given the changing landscape post-Brexit. His role will entail growing the presence of IAIM and the voice of investment managers in the context of the broader domestic financial service sector and helping to promote Ireland worldwide as a pre-eminent destination for investment management firms.

He will also be responsible for leading the contribution of the IAIM around key areas, such as sustainable finance and ESG, collaborating with the other key local and international stakeholders.

Commenting on the appointment, Corrigan, said: “We are delighted to confirm the appointment of Michael D’Arcy as the new CEO of the Irish Association of Investment Managers. The industry is growing exponentially in Ireland and our expectation is for this trend to continue. This is our first step in onboarding the necessary expertise and competencies to face the challenge.”

In addition, on his own appointment, D’Arcy said: “I believe that crucially now, there is a huge opportunity for Ireland, as the UK exits the EU, to help shape the future agenda of not just investment managers and firms where these is considerable growth potential, but even more broadly for the funds industry as a whole and for Ireland to become a global centre for the industry.

“Brexit represents a unique opportunity to develop Ireland further as a credible leading investment management centre, with its attendant employment benefits. In that regard Ireland will need to continue to develop its skills base, and the promotion of education and training will be key in equipping students with the required skillsets, as will be the need to create a greater awareness among graduates and school leavers of the industry’s diverse employment opportunities.”

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