04:43 Thu 07 Jan 2010
Witan hires Rensburg's Andrew Bell as chief executive
Witan investment trust has hired Andrew Bell (pictured) as its new chief executive.
Bell, who will take his position on the Witan board once his joining date has been finalised, is a respected figure within the investment trust industry, and currently heads up research and strategy at Rensburg Sheppards.
Bell's hire caps a busy few months for the £1 billion Witan (Ordinary Share) trust.
He will replace former Majedie chief executive Robert Clarke who had been in the job for just over a year and who in turn had replaced Jim Horburgh in October 2008.
Last year Clarke was given a mandate to develop the trust's investment services business and recruited Mark Lynam as its chief investment officer.
But both have now departed as Witan's board made it clear it would prefer a full time investment-focused chief executive.
Bell is also currently a non-executive director of Framlington Innovative Growth Trust plc and the Henderson High Income Trust plc.
Citywire Verdict
Bell is a very useful addition to the Witan team. The trust was a very early adopter of the multi-manager approach to global asset management although performance has taken some time to come through. Bell's investment focused role should provide a further fillip as the trust looks to continue to improve its investment performance.
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