The Association of Investment Companies (AIC) has named Andrew Bell (pictured) as its new chairman.
The chief executive of Witan Investment Trust succeeds Sarah Bates, whose two-year reign comes to an end of 24 January.
Bell, who is also a non-executive director on the Henderson High Income Trust, has been a director of the AIC since 2006.
In 25-year career in the City he has had spells at BZW and Credit Suisse First Boston, along with a 10-year stint at Rensburg Sheppards, where he was head of research and strategy.
In a statement on his appointment Bell said: 'I am very much looking forward to becoming chairman of the AIC, having been actively involved with the sector for over 15 years and even longer than that as an investor.
'The investment company industry has had a challenging yet hugely interesting few years, with pressures from a number of quarters for changes in financial services governance and regulation. The AIC’s executive team and board have a crucial role in helping to shape the regulatory debate, as well as providing advice and guidance to members on the implementation of any resulting changes in the rules.
'Our current chairman, Sarah Bates, has been unstintingly energetic and capable in supporting and guiding the sector and I am honoured to have been asked to take up the running from 2013 as her successor.'