Most of the financial service industries in the City are represented by Livery Companies, for example the Solicitors, Chartered Accountants, Actuaries, Insurers and Tax Advisers. These Companies, therefore, have direct access to the Lord Mayor and the Corporation.
One major omission is Investment Management which the formation of the Guild of Investment Managers (GIM) rectifies because it aspires to join their ranks. Becoming a City Livery Company is a long process taking many years, however the Guild now has official City status.
Investment management is a core financial service industry in the United Kingdom and, in its current form, goes back to the first investment trust (Foreign & Colonial) founded in 1868. GIM think it is time that the UK industry, with some £10 trillion under management (Source: Investment Association 2016), put something back into the City. GIM would not be involved in the regulation of the industry as Guilds of yesteryear would have been.
This function is covered today by the Financial Conduct Authority which also implements the many global directives. Nor would we be a trade association representing asset management companies, the Investment Association and others do that. GIM will provide the opportunity for fellowship, networking among individuals and have the traditional aspect of charity and support for the Mayoralty.