Michael Dawley, FIA Global
"Today's announcement is the culmination of a long process of international expansion and engagement and a great step forward for the organization and its members."
Washington, London and Singapore - Since June 2013, the three associations have been working closely together under an affiliated global structure, FIA Global, which enabled the independent organizations and their boards to better coordinate policies and priorities.
Having seen the benefits of this affiliation in a number of areas, including collaboration on advocacy, industry issues, global standards, member communications and events, the boards of the three associations have approved a plan to legally combine into a single organization.
The boards of FIA, FIA Europe and FIA Asia consider that such a merger will provide the industry with a robust, powerful and effective global association to promote the interests of members. The new organization will retain a strong regional focus while offering the industry the strength and operational efficiencies that come from having a single, unified global organization.
Michael Dawley, chairman, FIA Global: "This industry has always been fundamentally international in its outlook. For decades the flow of capital, ideas and innovation across borders and around the world has brought enormous benefits for our markets and our customers, and our three organizations have led the way in helping this industry build on that success. Today's announcement is the culmination of a long process of international expansion and engagement and a great step forward for the organization and its members."
Gerald Corcoran, chairman, FIA: "We've made great strides in strengthening our collaboration in many areas and the time is right to take the next step and fully merge our organizations. This combination will improve our ability to serve our members around the world and strengthen our voice on the critical policy issues facing this industry."
Steve Sparke, chairman, FIA Europe: "The demand from members for advocacy and assistance with their implementation of a large volume of regulatory change has never been stronger. The increased resources that will be delivered through this merger will put us in a great position to consolidate the improvements that we have made over the last couple of years and to further develop the range, depth and effectiveness of the services that we provide in Europe."
Conor Cunningham, chairman, FIA Asia: "At a time of tremendous change in derivatives markets in every region, it is especially important to bring a global perspective to the table. We are already working hand in hand on many issues, and this merger is the logical next step."
FIA has compiled a number of FAQs that address many of the initial details regarding the merger. These can be found here.