(Alliance News) - City Of London Investment Trust PLC on Thursday said senior Evercore Partners executive Laurie Magnus will become chair following retirement of Philip Remnant at the trust's annual general meeting in October 2020.
The investment trust said Magnus initially will join as a non-executive director from March 1 next year.
Magnus currently serves as a senior adviser at New York-based investment banking firm Evercore Partners. He also is the chair of Pantheon International PLC and JP Morgan Multi-Asset Trust PLC.
City Of London Investment Trust also said that Simon Barratt will retire from the company's board on January 1.
Shares in City Of London Investment Trust were up 0.9% at 422.00 pence each on Thursday afternoon in London.
By Tapan Panchal; tapanpanchal@alliancenews.com
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City Of London Investment (CTY)
Pantheon International (PIN)