The Guild of Investment Managers has moved a step closer to becoming the City’s newest livery company after the City’s aldermen gave it their formal tick of approval.
The Court of Alderman granted the guild ‘City of London’ status at their meeting last month, which means it is now officially designated, and can use its status in charitable activities and networking.
The Guild of Investment Managers was formed a year ago by liverymen John Garbutt and Mark Henderson, both of whom worked for former fund management group Touche Remnant.
Having jumped the first hurdle to join the City’s modern liveries (as distinct from the ancient livery companies) the Investment Managers will need to spend around four years building their membership to a minimum of 100 before they can apply to become a company (without the livery).
Four years after that, they can be given permission to add the term ‘livery’, but only if they meet certain criteria, such as establishing a charitable trust, registering sufficient numbers of committed members, and demonstrating that the guild can make a positive contribution to its trade in the City.
Guilds currently waiting on the grant of livery include the Nurses, PR Practitioners, HR Professionals, and Entrepreneurs. The most recent company to obtain the status was the Arts Scholars in 2014.