Alliance Trust director passes away

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Alliance Trust has confirmed that director Rory Macnamara passed away over the weekend.

In a short statement, Alliance Trust says his contribution was valued in the short time he served on the board.

Macnamara was nominated by Elliot Advisors, Alliance Trust’s then largest investor, and joined the board in June 2015.

He was also chairman of the £402.8m Dunedin Income & Growth investment trust.

He worked for Lehman Brothers and Deutsche Morgan Grenfell, where he became deputy chairman.

Alliance Trust says: “The thoughts of the board, and all those connected with the company, are with his family at this difficult time.”