Jeremy Tigue leaves AIC board after 9 years

William Hemmings, head of closed funds at Aberdeen Asset Management, has taken over from F&C’s Jeremy Tigue as a member of the AIC board.

Mr Hemmings, who has been involved with investment trusts for more than 20 years, is already a a member of the AIC Managers Forum.

His appointment comes as Andrew Bell replaces Sarah Bates as chairman of the organisation, although Ms Bates has been re-elected as a board member.

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Mr Hemmings said: “I am very pleased to join the AIC Board, at a time of significant change for closed-end funds.

“There are undoubtedly significant opportunities ahead as we broaden the shareholder base of the sector but, at the same time, investment companies face considerable regulatory challenges. I hope that my experience will contribute to the AIC’s efforts during this exciting period.”

Andrew Bell, chairman, said he looked forward to working with Mr Hemmings and that Mr Tigue would be “very much missed”.