Alliance Trust Investments Limited has become the Investment Manager and Alternative Investment Fund Manager (“AIFM”) to Alliance Trust with effect from 3 February 2016 – so Alliance Trust has become externally managed (although Alliance Trust Investments is a subsidiary of Alliance Trust). Alliance Trust Investments has also replaced The Bank of New York Mellon, London Branch (“BNYM”) as Administrator to the Company. BNYM will continue to provide investment trust accounting services as a delegate of Alliance Trust Investments.
The management fee and notice period provided for in the Investment Management Agreement are as previously announced on 1 October 2015. National Westminster Bank plc and The Bank of New York Mellon SA/NV,
London branch remain as the Company’s Depositary and Custodian respectively.
As previously announced, Lord Smith of Kelvin becomes Chairman of the Company and Katherine Garrett-Cox and Susan Noble have stepped down as Directors of the Company, all with effect from 3 February 2016. Susan Noble has become Chair of ATI. Katherine Garrett-Cox continues as Chief Executive Officer of ATI. Donald McPherson, Company Secretary of the Company will retire on 31 May 2016. He will be succeeded in that role by Lisa Brown, currently Senior Commercial Legal Counsel of the Company.
ATST : Alliance Trust becomes “externally” managed