Gregor Stewart, a former FD of Lloyds Banking Group's insurance division, has joined Alliance Trust as a non-executive director.
Investors are calling for more control over ETF trades executed on fund platforms, many of which are incapable of hosting the vehicles or are currently unable to offer real time trading.
Investors wishing to move from direct-to-consumer to adviser platforms face "punitive" exit fees, according to analysis by the lang cat.
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Alliance Trust has overhauled its equity team, with the loss of five roles expected to save £2m a year.
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Alliance Trust's head of equities Ilario di Bon has left the group to pursue other opportunities.
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