F&C names new chairman

22nd Sep 2009 15:29

Foreign & Colonial has appointed Simon Fraser a non-executive director and chairman designate of the investment trust. The current chairman, Mark Loveday, will retire immediately following the Annual General Meeting in May 2010.Fraser is a non-executive director of Barclays, Merchants Trust, Fidelity European Values and Fidelity Japanese Values. He spent his career at Fidelity International, where he held a number of positions, including Chief Investment Officer (CIO) from 1995 to 2005, President of Fidelity International's European and UK Institutional business and latterly President of the Investment Solutions Group. He stepped down from executive responsibilities at the end of 2008.'We are delighted that Simon is joining the Board as Chairman Designate. His wealth of investment experience and knowledge, gained over many years at one of the world's foremost investment houses, will help to ensure that Foreign & Colonial Investment Trust continues to serve the needs of its 109,000 investors in the years to come,' Mark Loveday said.