Alliance Trust Savings has appointed Patrick Mill as the company’s new managing director with immediate effect.
Mr Mill has been promoted from his previous role at Alliance Trust Savings as distribution director and has over 20 years’ experience in the financial services industry.
Alliance Trust Savings is a subsidiary business of Alliance Trust PLC which is the UK’s largest generalist investment trust by market value. Alliance Trust Savings provides a range of savings and investment products for both direct and advised customers through its online investment platform.
Alliance Trust Savings is predicted to be profitable on a recurring monthly basis by December 2012.
Mr Mill said: “I’m proud to be given the opportunity to lead Alliance Trust Savings into the next phase of its development and build on the excellent work the management team has done in growing the business over the last two years. We are in very good shape with strong growth in all channels and a return to profitability imminent.
“The Retail Distribution Review and the growth of the platform market present considerable opportunities to grow our business further as advisers seek to maximise value for their clients and continue to move assets onto investment platforms. We also expect an increase in our direct customer base as RDR starts to highlight the true cost of investing and makes clear the value of Alliance Trust Savings.”
