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(Alliance News) - Securities Trust of Scotland PLC said Tuesday it has promoted Non-Executive Director John Evans as chair with immediate effect, following the company's annual general meeting.
He will be replacing Rachel Beagles, who retired from her role after three years since 2016.
Evans has been non-executive director at the investment firm for three years since 2016, and his most recent executive role was as investment manager at financial services firm Aberforth Partners LLP, which he co-founded in 1990 and left in 2011.
"I would like to thank Rachel for her dedication and service over the past 9 years, and as chair for the last three years," Evans said.
In addition, Securities Trust of Scotland declared its first interim dividend for the year ending March 31 of 1.45 pence per share, which will be paid on October 25.
Shares in Securities Trust of Scotland were up 0.8% at 193.53 pence on Tuesday afternoon.