The Association of Investment Companies (AIC), the trade body for the UK’s investment trust industry, has named Peter Arthur as new chairman, replacing Andrew Bell, effective 1 January 2015.
Bell, who is also chief executive of the Witan trust, will step down in January 2015 after two years as chairman and nine years from the organization’s board.
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Arthur, who joined the AIC’s board in 2011, has also served as deputy chairman since 2013. He is also chairman of Aberdeen Asian Income Fund and previously served as director of ISIS Asset Management.
Prior to this, Arthur worked as chief legal counsel, Europe, for Franklin Templeton Global Investors and served as joint managing director of Edinburgh Fund Managers.
Arthur said: "This is a time of significant change in the savings and investment market and whilst such change brings new challenges to our member companies and the AIC, it also offers opportunities for those bold enough to take advantage of them."
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