Friends Ivory & Sime appoints new VCT fund manager

Gareth Banks, formerly of accountants KPMG, has been appointed VCT fund manager of FI&S's Baronsmead Venture Capital Trust. The appointment comes as FI&S prepares for the launch of its Baronsmead VCT 4 in November. Lead investment manager of the Baronsmead VCTs David Thorp, says the appointment "strengthens" the team managing the various portfolios. The VCTs are focused on investing between £2m to £30m in unquoted companies, excluding startups, and FI&S works with Dutch and German VC investment companies to maximise its European exposure.