Susie Farnon elected, William Hemmings and Patrick Reeve re-elected and Melville Trimble retires.
The membership of the Association of Investment Companies (AIC) has elected Peter Niven to the board of the AIC. His appointment took effect following the AIC’s annual general meeting on 16 January 2019.
Susie Farnon, who was appointed to the board in 2018, was also elected and William Hemmings and Patrick Reeve were re-elected.
Having served nine years on the AIC board, Melville Trimble has retired. Mr Trimble joined in 2010 and was deputy chair from January 2015 to January 2018. He chaired the AIC’s audit committee from March 2011 to January 2019.
Rachel Beagles, Chair of the Association of Investment Companies said: “It is a pleasure to welcome Peter to the AIC board. He has significant experience and his expertise, particularly through his work in the Channel Islands and with alternative asset classes, will be a significant benefit to the AIC’s membership.
“I would like to thank Melville for all his work and place on record our appreciation of his significant contribution to the AIC and the industry.”
Peter Niven, Non-Executive Director of the Association of Investment Companies said: “I’m delighted to be joining the board of the AIC. Having served as a director of a number of investment companies and other vehicles investing in alternative assets, I look forward to bringing this knowledge to the AIC board. I believe the industry needs to have a strong voice through the AIC and I’m particularly interested in supporting the AIC’s lobbying of governments and regulators.”
Mr Niven has over 40 years’ experience in financial services and currently serves as a non-executive director of the investment companies SQN Asset Finance Income Fund, where he is chair, and India Capital Growth Fund. Mr Niven spent 30 years at Lloyds Banking Group, becoming the group’s head of offshore banking. After leaving Lloyds, he worked for Guernsey Government as its first Director of Finance Sector Development and was appointed Chief Executive of Guernsey Finance. From 2004 – 2017 Mr Niven sat on the board of the investment company, F&C Commercial Property. He is a Fellow of the Institute of Bankers and the Institute of Directors and is a Chartered Director.
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- The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment. Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help members add value for shareholders over the longer term. The AIC has 354 members and the industry has total assets of approximately £178 billion.
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