Alliance Trust Savings adds ex-Cofunds sales head

Alliance Trust Savings adds ex-Cofunds sales head

Alliance Trust Savings has made two appointments to its executive team as part of a move to become a standalone business.

The Alliance Trust subsidiary has taken on Ed Carey as sales director and Peter Docherty as risk and compliance director.

Mr Carey joins from pension provider City Trustees, but spent 12 years at Cofunds, ending his tenure as head of distribution and development. He will be responsible for intermediary and partnership channels.

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He is joined by Mr Docherty, who was previously chief risk officer for Scottish Friendly, and spent time with consultancy KPMG and the FSA.

The firm said: “These appointments complete the executive team following the decision for Alliance Trust Savings to become a standalone business with its own management and independent board.”

Patrick Mill, managing director of Alliance Trust Savings, added: “We have ambitious plans to grow our assets under administration to around £40bn by 2020.

“I am confident that with Ed and Pete’s experience alongside our existing executives, we have the right team in place to achieve this goal.”

After striking a deal with activist investor Elliott Advisors, parent company Alliance Trust announced a series of planned changes including the creation of independent boards for its subsidiaries to “increase focus and accountability”.