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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.

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