Schroders chief executive Peter Harrison has been named incoming chair of the board of the Investment Association, replacing current chair Helena Morrissey when she steps down on 1 May.
The organisation also announced that Henderson Group's chief executive Andrew Formica will become deputy chair, effective from the same date.
Morrissey is stepping down from her role as she joins Legal & General Investment Management as head of personal investing.
Harrison (pictured) said: "As the incoming chair of the board of the Investment Association, I look forward to continuing to work closely with Chris Cummings and the rest of the team.
"Our industry is experiencing a period of significant change and it is important we work together to ensure we meet our responsibilities to clients and deliver value to them over the long term."
Formica said: "I am passionate about the positive role asset management plays in delivering value for its clients, and the Investment Association is an important part of making sure the industry is able to deliver the best possible outcomes for savers and investors."
The board's shake-up follows a series of top-level changes at the Investment Association over the last year and a half.
In 2015, a number of fund managers, including Schroders and M&G, threatened to leave the organisation over disputes about its future direction. The episode ultimately led to the resignation of CEO Daniel Godfrey in October 2015 after three years in the role.
Last April, it was announced that former TheCityUK chief executive Chris Cummings would become the IA's new chief executive, replacing interim CEO Guy Sears, who was assigned to the role immediately following Godfrey's departure.
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