The voice of the asset management industry, as represented by Peter De Proft, director general of the European Fund and Asset Management Association, is deep, crisp and unhurried. De Proft, who was elected to the director-generalship two years ago this month, is one of the most senior members of Efama, along with its president, Jean-Baptiste de Franssu, and Claude Kremer, who this summer beat UK fund manager Robert Jenkins to the post of vice-president.

Efama's authority as an organisation was underlined last week when 10 chief executives of European asset management companies, including Joachim Faber of Allianz Global Investors, Roderick Munsters of Robeco and Martin Gilbert of Aberdeen Asset Management, signed up as members of an advisory group to the association.