The board of the Association of Investment Trust Companies (Aitc) has elected Jeremy Tigue as deputy chairman.
Tigue replaces George Kershaw who has stepped down on rotation but who will remain on the Aitc board.
He joins two other Aitc deputy chairmen, Carol Ferguson and Gill Nott.
Tigue was elected to the board of the Aitc in December 2003 and has worked closely on several aspects of the management of investment trusts since he joined F&C Asset Management in 1981 where he is currently head of global equities.
He has been manager of Foreign & Colonial Investment Trust since 1997 and has served on a number of the Aitc’s working parties over the years.
Hamish Buchan, chairman, Aitc; says: "I’m delighted to welcome Jeremy as a deputy chairman. His commitment and support for the sector over the years has been enormous, and as manager of the UK’s oldest and largest conventional investment trust, his experience and input since he joined the board has also been invaluable. I look forward to working more closely with him.
"On behalf of the Aitc as a whole I would also like to thank George Kershaw who has been an excellent deputy over the last three years. He has helped steer the Aitc through some challenging times, not least the successful conclusion to the Treasury’s consultation on the regulation of investment companies. I’m delighted that George will remain on the Aitc board so we can continue to benefit from his experience."
Tigue adds: "It’s an exciting time for the investment company sector. The introduction of innovative discount controls continues apace, policy changes are on the up, whilst new issues are at their highest for some time. More importantly, performance has been strong, boosted by the narrowing of investment company discounts. This is becoming a fast moving industry and I’m delighted to have the opportunity to work more closely with the Aitc to help the sector continue to evolve."
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