Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Alliance Trust hires Lord Robert Smith as its new chairman

He replaces former chair Karin Forseke, who left at the start of the New Year
Alliance Trust hires Lord Robert Smith as its new chairman
It's part of the firm’s decision to create a wholly independent board.

Alliance Trust (LON:ATST) has announced former Weir Group (LON:WEIR) chairman Lord Robert Smith as its new chairman.

The 128-year-old trust said Lord Smith, currently Chairman of UK Green Investment Bank, Forth Ports LIMIted and IMI (LON:IMI), will take over on the first of next month.

Between 1996 and 2002, Smith held the roles of chief executive, and then vice chairman, of Morgan Grenfell Asset Management (latterly Deutsche Asset Management).

At the time, it was the largest pension fund manager in the UK and the leading asset manager in Germany.

Smith said: “I am looking forward to getting started and playing my part in delivering the changes that are necessary to return the Trust to the levels of performance upon which it has earned its reputation and success.”

He replaces former chair Karin Forseke, who left at the start of the New Year as part of the firm’s decision to create a wholly independent board.

Forseke’s departure came just a few months after a bitter row with US hedge fund and major shareholder Elliott Advisors.

Elliott accused Alliance of underperformance and proposed changes to the management and board structure, both things that Forseke publicly rejected.

Jonny.jpg


Register here to be notified of future ATST Company articles
View full ATST profile

Alliance Trust Timeline

Newswire
February 15 2016

Related Articles

shutterstock_227529106.jpg
March 17 2016
The wealth manager has just posted double digit growth in discretionary funds

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.