Chris Samuel (pictured) and Karl Sternberg have been appointed non-executive directors of the Alliance Trust and will join the Board with immediate effect. Both appointments have been made following consultation with the company’s largest shareholders.
Samuel was Chief Executive of Ignis Asset Management from 2009 until its recent sale to Standard Life Investments. He was previously Chief Operating Officer at Gartmore and Hill Samuel and was a partner at Cambridge Place Investment Management.
Sternberg was a founding partner of Oxford Investment Partners where he worked from 2006 – 2013. Prior to that Karl enjoyed a career in fund management at Deutsche Asset Management, latterly as Global Head of Equities and Chief Investment Officer for Europe and Asia Pacific.
Two of Alliance Trust’s current directors, John Hylands, who joined the Board seven years ago, and Alastair Kerr, the Senior Independent Director, who joined the Board three years ago, have indicated that they will retire from the Board at the Company’s AGM in May 2016. Following this, it is intended that Karl Sternberg will become Senior Independent Director of the Company. The appointments of Chris and Karl mean that, effective from the 2016 AGM, five of the nine serving Board directors will have been appointed since 2014.
Karin Forseke, Chair of Alliance Trust, says: “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.
“These appointments follow extensive consultation with our major shareholders. We remain fully committed to delivering measures that will address the feedback we have received from our shareholders.
“I would like to thank both Alastair and John for their substantial contributions to the development of Alliance Trust over a period during which we have delivered strong and consistent returns for our shareholders while also continuing to develop our investment and savings business. Both will leave the Board with my heartfelt thanks for their guidance and support during their time as directors.”