Securities Trust of Scotland hires new director

Securities Trust of Scotland has announced the appointment of Angus Gordon Lennox as a non-executive director of the company with effect from 1 November 2013.

Angus Gordon Lennox has an extensive knowledge of the investment industry with 23 years’ experience at Cazenove, latterly JPMorgan Cazenove, working in a variety of positions.

As a partner of Cazenove he was appointed head of the Investment Companies Department and built the business to become the leading franchise in the City, executing more corporate transactions than any other team and raising more new money than any other investment company team. Following the joint venture between Cazenove and JP Morgan in 2005, he became a Managing Director of JPMorgan Cazenove and continued to Head the Investment Companies Division. He held this position until 2010 when he retired.

In addition to his new role on Securities Trust of Scotland, Angus will continue with his duties as Executive Chairman of two family businesses. He will also remain as a director of a number of organisations involved with fishery management on the River Spey.

Neil Donaldson, chairman of Securities Trust of Scotland, commented: “We are very pleased to welcome Angus Gordon Lennox to the board of the company. He has an unrivalled knowledge of the investment company sector and will bring invaluable insight to the board. We are committed to delivering value to our shareholders and to broadening our shareholder base and we are looking forward to working with Angus to achieve this.”

Two years ago a resolution was passed to move the trust to a completely global mandate which, coupled with the manager’s stock-selection process, has driven strong returns each year. This impressive performance has resulted in increased investor demand and the board receiving shareholder approval in August 2013 to issue up to 100 million new shares to meet this demand, making it an exciting time for Angus to join the Company.

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