The Association of Investment Companies has elected Andrew Bell as its new chairman.
Bell (pictured), who has been a director of the AIC since 2006 and deputy chairman since 2011, will replace Sarah Bates on 24 January.
Bell has been chief executive of Witan Investment Trust plc since early 2010 and is a non-executive director of Henderson High Income Trust plc.
He has also held roles at Credit Suisse First Boston and Rensburg Sheppards during his 25 years in financial services.
Bell says: “I am very much looking forward to becoming chairman of the AIC, having been actively involved with the sector for over 15 years and even longer than that as an investor. The investment company industry has had a challenging yet hugely interesting few years, with pressures from a number of quarters for changes in financial services governance and regulation. The AIC’s executive team and board have a crucial role in helping to shape the regulatory debate, as well as providing advice and guidance to members on the implementation of any resulting changes in the rules.”
Brewin Dolphin head of investment company research John Newlands says: “This appointment is fully deserved. Andrew is as keen as the rest of us to promote the merits of investment trusts and it is particularly important in the run up to the RDR. I wish him all the best.”