AITC votes Townsend to chair in board reshuffle

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 elect...