The Association of Investment Companies (AIC) has appointed former Share Centre boss Richard Stone as chief executive from 13 September.
Outgoing CEO Ian Sayers, whose departure was first announced in March, will step down in October after a short handover period.
Stone was CEO of investment platform The Share Centre from 2014 to 2020 and was finance director from 2006 to 2013. In 2008 he played a key role in the flotation of the business on Aim and as CEO oversaw the business’ sale to Interactive Investor in July 2020.
See also: Share Centre boss Richard Stone bows out after acquisition by II
AIC chair Elisabeth Scott said: “On behalf of the board, I am delighted that Richard has accepted this position. He brings a strong track record of leadership and business growth in the financial services sector. The board believes that Richard is well placed to build on the many successes achieved by the AIC under Ian’s tenure. Ian leaves with our grateful thanks and good wishes for the future.”
Stone said: “It is a real privilege to be taking on the role of steering the AIC, continuing the great work the association does to protect and promote the interests of its members and their shareholders. I’d like to thank Ian for all his efforts in the last 20 years as technical director and then chief executive.
“The AIC works hard on behalf of its members and I look forward to continuing that work, for example on issues such as the government’s proposed audit reforms and the ability, post Brexit, for the UK to reform the prospectus requirements. At all times I believe regulation and any regulatory change should be proportionate and whilst protecting investors should look to enhance UK competitiveness.”
