The Board of Witan Investment Trust PLC, the £1.1bn global growth investment trust, confirms that Andrew Bell will assume the role of Chief Executive Officer on 8^th February 2010.  To ensure a smooth transition while this change of executive takes effect, out-going CEO Robert Clarke and Mark Lynam will remain in place for a handover period. 

Andrew’s appointment reflects the Board’s commitment to a strong investment focus led by the Chief Executive ensuring that the Trust is well placed for continued outperformance. In addition to his role at Witan Investment Trust, Andrew will also be appointed to the Board of Witan Investment Services.

Andrew joins Witan from Rensburg Sheppards where he has been Head of Research since 2003, having joined the company in 2000 after 12 years specialising in investment strategy and equity markets with Barclays de Zoete Wedd and Credit Suisse First Boston.  As well as his extensive expertise as an investment professional, Andrew is well-respected within the investment trust industry being a director of the Association of Investment Companies as well as a non-executive director of both Framlington Innovative Growth Trust plc and Henderson High Income Trust plc.

Harry Henderson, Chairman of Witan Investment Trust said, “We are delighted to confirm Andrew’s appointment. His strong investment background meets one of the essential requirements for the role, while his profile with investors will be valuable in promoting Witan’s multi-manager proposition to the market.

“I would like to take this opportunity to thank Robert Clarke and Mark Lynam. Both have made valuable contributions over the past 18 months.  We wish them all the best in their future endeavours.”

Commenting on his appointment, Andrew Bell said, “With a heritage spanning more than a century, Witan remains at the forefront of the investment trust world and I am very excited by the prospect of helping to contribute to its continued future success.  I also look forward to working with Witan’s Board, which has demonstrated a willingness to embrace innovation in order to achieve out-performance for the benefit of its shareholders.”

For further information visit www.witan.com.

- ENDS -

Witan Investment Trust plc                                                                                                                                

Established in 1909, Witan is one of the UK’s largest investment trusts, managing some £1.1bn (as at 30.11.09, source AIC) on behalf of some 40,000 investors.  Witan is listed in the ‘Global Growth’ sector.

Witan Investment Services Limited is a wholly owned subsidiary of Witan Investment Trust plc.

Registered as an Investment Company in England No 101625.