Alliance Trust director dies

Dundee-based Alliance Trust has announced the passing of director Rory Macnamara.

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 as part of the Alliance Trust’s then largest investor’s rebellion at the beginning of last year.

He subsequently joined the board in June 2015.

Mr Macnamara, who was also chairman of the £402.8 million Dunedin Income & Growth investment trust, died over the weekend, the Dundee firm said.

Educated at Oxford, he also worked for Lehman Brothers and Deutsche Morgan Grenfell, where he became deputy chairman.

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