PIMFA, which represents 1,000 UK wealth managers and and financial advisers, has appointed three new board members.

The body announced the arrival of Tracey Davidson, Myles Marmion and Penny Lovell this week.

Ms Davidson is currently the chief executive of Heartwood Wealth Management, a wholly-owned subsidiary of Handelsbanken Group.

She said: “PIMFA fulfils an important role representing and supporting wealth management, investment management and financial advice firms in the UK and I am delighted to support this activity by joining the Board at such a key time for our industry.”

Mr Marmion is currently chief financial officer for Ruffer and previously worked at ED&F Man Holdings, where he was group chief financial officer and previously head of corporate finance and risk.

He started his career at Ernst & Young and then worked for Robert Fleming Holdings and Maple Financial Group.

In 2009 he joined Ruffer which, as of 31 July, had £22.4bn in assets under management. 

On joining the PIMFA board, Mr Marmion said: “Our industry plays an important role in the lives of our clients, and in the wider economy. 

“I’m very pleased to be joining the PIMFA board and to contributing to PIMFA’s work in the years ahead.”

Ms Lovell was appointed as CEO of The Private Office and the Sanlam UK executive committee in 2017.

She has more than 25 years advising private clients, families and charities.

Previously, she was managing director at Rothschild and Fleming Family and Partners.

Before Joining Sanlam, she was head of private client, marketing and distribution at Close Brothers Asset Management and a member of the executive committee.

She said: “The UK is a global leader in investment advice and financial management.

“But for that position to be maintained, we as an industry must all work together.

“I very much look forward to helping PIMFA continue to act as a strong and united voice for its combined membership, as well as ensuring that responsible stewardship remains at the heart of the industry.

“It’s a real privilege to be joining the board and I can’t wait to get started.”

PIMFA chairman Lord Deben said: “I am delighted to welcome these three industry leaders to the PIMFA board. 

“Their experience and expertise will be invaluable in advancing our cause of creating an optimal operating environment for our member firms so that they can focus on guiding individuals and families to build their personal financial futures.”