AIC elects new chair as Bell steps down

The Association of Investment Companies (AIC) has elected Peter Arthur to replace Andrew Bell as chairman.

Bell (pictured), who is also chief executive of the Witan trust, is to stand down in January 2015 after two years as chairman and nine years on the organisation's board. Arthur has served on the AIC's board since 2011 and has been deputy chairman since 2013. He is also chairman of Aberdeen Asian Income Fund, prior to which he served as director of ISIS Asset Management. He will begin in his new role in January. Commenting on his appointment, Arthur said "this is a time of significant change in the savings and investment market and whilst such change brings new challenges to our m...