The Association of Unit Trusts and Investment Funds has appointed Alan Ainsworth as its new chairman.
Ainsworth who is currently deputy chairman of Threadneedle Investment Services, takes up the position with immediate effect. He replaces Gartmore Fund Managers' managing director Lewis McNaught.
Autif has also announced the election of four new executive committee members, Hill Samuel, M&G, Mercury and Save & Prosper.
These members are elected on a rotational basis, with the four replacing retiring members Barclays, Gartmore, Midland and Perpetual.