The executive board of the Association of Investment Trust Companies (AITC), which celebrates its 70...
The executive board of the Association of Investment Trust Companies (AITC), which celebrates its 70th anniversary this year, has elected Anthony Townsend as chairman to succeed Christopher Duffett.
Townsend, who was a founder director of Finsbury Asset Management, now Close Finsbury Asset Management, was voted in at the group's AGM in December. He takes the helm of a trade body which has 313 members with total assets of around £64.5bn.
Although retired as chairman, Duffet remains a member of the executive committee of the trust group. Two new executive committee members were also elected. They are Hamish Buchan and Alex Hammond-Chambers.
Buchan joined Wood Mackenzie & Co as an analyst of investment trusts in 1969, and has remained in that role for over 30 years.
He is currently a consultant and sits on the board of a number of investment trust companies, including Aberforth Split Level Trust and Fleming American.
Alex Hammond-Chambers joined Ivory & Sime, now Friends Ivory & Sime, in 1968 and was investment manager of both the British Assets Trust and Second British Assets Trust. From 1985 to 1991 was chairman of Ivory & Sime.
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