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Alliance Trust Savings appoints chair

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Alliance Trust Savings has appointed former Friends Life chief financial officer Tim Tookey as its new chairman, following the previous break-up of the board.

Tookey has spent more than 30 years in the financial services industry, having worked as group finance director at Lloyds Banking Group, and held roles in Prudential, Heath Lambert and KPMG.

The appointment comes after Alliance Trust separated its board from the investment division, forming two separate boards as part of a shake-up of the business.Tookey will work with Jonathan Anderson and Gregor Stewart, who joined as non-executive directors in January.

Patrick Mill, chief executive of Alliance Trust Savings, says: “This is an exciting stage in the development of Alliance Trust Savings. The fact that we have been able to attract such high calibre board members illustrates the strength of our strategy and business proposition.

“Tim and Jonathan’s extensive experience, alongside Gregor’s expertise and knowledge of Alliance Trust Savings, complements the talent within our executive team and will be invaluable in driving the business forward to deliver a meaningful profit in 2016 and beyond.”

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