Foreign & Colonial IT appoints ex Fidelity CIO as chairman

Foreign & Colonial Investment trust has appointed Simon Fraser as a non-executive director and chairman designate.

He will replace outgoing chairman Mark Loveday, who will immediately retire following the company's AGM in May 2010 after more than nine years on the board. Fraser is currently a non-executive director of Barclays, Barclays Bank, Merchants Trust, Fidelity European Values and Fidelity Japanese Values. He spent much of his career at Fidelity International, where he was CIO from 1995 to 2005, president of Fidelity International's European and UK Institutional business and latterly president of the Investment Solutions Group. He stepped down from executive responsibilities at the end of 2...