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Aberdeen's Hemmings takes over as F&C's Tigue leaves AIC board
Markets
by Sarah Miloudi on Jan 31, 2013 at 13:33
Jeremy Tigue has stepped down from the board of the Association of Investment Companies (AIC) and will be replaced by William Hemmings, Aberdeen Asset Management head of closed-end funds.
Tigue (pictured), manager of the £2 billion Foreign and Colonial Investment Trust and F&C's head of global equities, has been one of the 12 AIC board members for the past nine years.
An AIC spokeswoman said the nine-year term meant members could not be re-elected.
Speaking about his appointment,Hemmings said: 'I am very pleased to join the AIC board, at a time of significant change for closed-end funds.
'There are undoubtedly considerable opportunities ahead as we broaden the shareholder base of the sector, but at the same time, investment companies face considerable regulatory challenges.'
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