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AIC elects first female chairman

The Board of the Association of Investment Companies has elected Carol Ferguson to replace Hamish Buchan as the firms next chairman from 11 December 2007.

Ferguson, who will become the first women to take on the role, has worked with the AIC since 2002 and has held the role of deputy chairman since 2004. She has also served on a number of the group’s Committees, such as the SORP Review Working Party, serving on the Chairman’s Committee and chairing the Association’s Audit Committee.

Ferguson also has three investment company directorships in the shape of Monks investment trust plc, Gartmore smaller companies plc and Merrill Lynch greater Europe investment trust plc.

She says: “In all my years in the investment company sector, the last five years have seen some of the most far-reaching changes. The advantages of investment companies as collective investment vehicles are increasingly being recognised as the industry has evolved, and it has been a fascinating time to be on the AIC Board. It is for this reason that I particularly look forward to becoming Chairman and I would like to thank Hamish for his excellent work.

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