Alliance Trust appoints two new non-exec directors

24th Sep 2015 07:36

(ShareCast News) - Asset manager Alliance Trust said Chris Samuel and Karl Sternberg have been appointed non-executive directors of the company and will join the board with immediate effect, following consultation with its largest shareholders. Samuel was chief executive of Ignis Asset Management from 2009 until its recent sale to Standard Life Investments, while Sternberg was a founding partner of Oxford Investment Partners where he worked from 2006 to 2013.In addition, the company said two of its current directors, John Hylands, who joined the board seven years ago, and Alastair Kerr, the senior independent director, who joined three years ago, have indicated that they will retire from the board at the AGM in May 2016.Once this happens, Sternberg will become senior independent director of the company.Alliance Trust said the appointments of Samuel and Sternberg mean that, effective from the 2016 AGM, five of the nine serving board directors will have been appointed since 2014.Chair Karin Forseke said: "I am delighted that Chris and Karl are joining the board as they both bring extensive knowledge of the industry from their careers in the investment and asset management sector. Investment is at the heart of Alliance Trust and is the key to our future success and I believe their skills and expertise are the ideal complement to an already strong board.