View more on these topics

Hart quits AITC after 10 weeks

Michael Hart has dramatically quit as director general of the Association of Investment Trust Companies after just 12 weeks in the job.

Hart&#39s resignation, announced on March 17, ends 44 years in the investment-trust industry. He was formerly chairman of Foreign & Colonial.

His short time at the AITC has been filled with controversy. Last month, he was kicked off the board of the Brazilian Smaller Companies Investment Trust after criticism from shareholders.

Industry sources say the resignation is not a total surprise following a rocky first few months in the job.

In January, Hart said he was going to "shout the benefits of the investment-trust industry from the rooftops".

In a statement, the AITC says Hart is resigning for personal reasons.

Recommended

IFAA threat of another judicial review

The IFAA fears that the FSA&#39s proposals will invalidate IFA&#39s professional indemnity insurance. Its main objection is that the proposed actuarial assumptions for assessing losses are based on economic conditions of 1998.

Could you be our &#39Oscar&#39 winner?

Money Marketing this week starts its annual search for the best IFAs in the country with a call for entries for our prestigious industry awards. All IFA editions of this issue include a brochure outlining the eight Money Marketing IFA awards. These are designed to honour the best individual IFAs in the pension, investment, mortgage, […]

Abbey Life sets up discount deal on Peps

Abbey Life is offering investors a discount of 3 per cent on the initial charge if they buy a Pep in the 1997/98 tax year and another in the 1998/99 tax year. The offer is available on all initial lump sums between January 5 and April 3. A voucher will be sent to investors to […]

Bottom line takes bottom priority

Hadyn Green of the Pep Shop says: “Show me one IFA who is prepared to arrange face-to-face meetings to discuss Peps” (Money Marketing, December 18). Certainly – me! Does he really think that the average IFA is so thick that he or she does not realise that 50 per cent of Britain&#39s working population earns […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment