Daniel Godfrey is expected to depart from the Investment Association, where he has been CEO since October 2012, said a source familiar with the situation.
The Investment Association is the U.K.’s trade body for money managers, and its members collectively manage about £5.5 trillion ($8.3 trillion) of assets.
A spokesman for the board of the Investment Association declined to comment.
The expected departure followed news that two money managers intend not to renew their memberships with the Investment Association next year. Sources said the managers are Schroders, which has £309.9 billion of assets under management, and M&G Investments, which has £256 billion of AUM. Spokeswomen for both money managers declined to comment.