This blog from the IMA chief executive Richard Saunders shows that the fund managers’ trade body is stepping up to the plate when it comes to criticising the banks. It is of course interesting that Saunders talks of how the banks put pressure on the IMA to withdraw its support for the Vickers reforms. That banks are feeling the ire of fund managers is hardly surprising given the terrible performance of most of them, but Saunders is also correct about the need for integrity in business as well. As I argued earlier this week, it is now time for IFA leaders to step up and criticise the banks too, though I think we will something coming soon.
