More embarrassment at ABI as director rejects role

Jonathan Davis, who was announced as the new ABI director of investment affairs in November, has revealed he will not take up the role after all.

Davis, non-executive director of Hargreaves Lansdown and founder of Independent Investor, says ‘other commitments' have taken up more time than expected making him unable to head up the association.

He was supposed to be replacing Peter Montagnon, who resigned around a year ago and left the ABI in May to join the Financial Reporting Council.

The trade body is also still trying to recruit a new director-general after Kerrie Kelly resigned in July last year.

It has previously led shareholder campaigns against poor recruitment procedures within FTSE 100 companies.

Davis told the Telegraph his decision not to take up the directorship was made in a ‘mutual agreement' with the ABI.