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Friends, Ivory & Sime announces senior appointment

Friends Ivory & Sime has appointed Glen Townsend as director, dealing and operations.

Townsend, 36, will report directly to chief operating officer Ken Back. Townsend joins from City Consultants where he was director and management consultant specialising in re-engineering operations and systems for investment company clients.

The fund manager&#39s latest venture capital trust offering, AiM VCT2, has reached its full subscription of £40 million in just over four weeks.

Friends says this demonstrates the product has been well received by IFAs and also suggests VCTs are moving into mainstream financial planning.

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