The chief executive officers of 14 major pan-European asset and fund management companies have teamed up in a new forum to push their case for a single EU cross-border investment market, Reuters reports.
"Despite years of effort, a single market for asset management has not yet fully materialized, and it is Europe's savers who are paying the price in higher costs and restricted choice," Nicolas Moreau, chairman of the management committee of the Forum of European Asset Managers (FEAM), said in a statement.
FEAM's aim is to facilitate discussions between senior industry executives and government entities about the merits of a single cross-border asset management market. FEAM's management committee, which will meet quarterly to assess the progress of its various working groups, appointed Thomas Balk, president of European mutual funds at
Other members of FEAM's management committee include Johann Goldbrunner, member of the of the board of management of
The other founding members of FEAM are:
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.