The Association of Investment Companies (AIC) has elected Peter Arthur, former executive director of ISIS Asset Management, as its next chairman.
At ISIS Asset Management he was responsible for the group’s investment trust and international business.
Before that he was the chief legal counsel of Europe for Franklin Templeton Global Investors. Prior to this he was joint managing director of Edinburgh Fund Managers.
Mr Arthur is also chairman of Aberdeen Asian Income Fund.
He will take over from Andrew Bell who will step down in January 2015. Mr Bell who is the chief executive of Witan has been chairman for two years.
Mr Arthur said: “This is a time of significant change in the savings and investment market and whilst such change brings new challenges to our member companies and the AIC, it also offers opportunities for those bold enough to take advantage of them.
“Previous chairmen have worked tirelessly in the best interests of the Association’s member companies and I would particularly like to pay tribute to my predecessor, Andrew Bell, for the major contribution he has made to the AIC.”
Mr Arthur joined the AIC board in 2011.
