Industry heavyweights team up to launch MosaicNED

New training initiative

Key names in the asset management industry have banded together with Financial Services Training Partners to form MosaicNED - a group focused on sourcing and training a diverse range of prospective independent non-executive directors (iNEDs) for fund boards.

MosaicNED aims to help deliver on the Financial Conduct Authority (FCA)'s requirement for open-ended funds to appoint a minimum of two or 25% of iNEDs to their boards by the end of September, following concerns raised in 2017 Asset Management Market Study. The FCA unveiled the new requirement as it said more iNEDS would improve the levels of governance within firms and ensure better scrutiny of their costs and charges. Research consultancy UK Fund Boards found in its State of the UK Fund Boards 2018 study, carried out in the first half of 2018, that just 11% of board members are indep...