Eversheds partner appointed president of TACT
Giles Orton, chairman of Bridge Trustees, the pensions trustee company owned by law firm Eversheds, has been appointed president of The Association of Corporate Trustees (TACT).
The association was founded in 1974 to foster a high standard of corporate trustee service.
TACT’s membership comprises the leading UK corporate trustees operating in the fields of private and will trusts, loan capital and pensions. Collectively TACT members are responsible for assets worth over GBP1trn.
Orton (pictured) previously held the position of vice president and takes over the role of president from Wilson Cotton of Smith & Williamson.
Orton says: “TACT plays an important role in maintaining high standards in corporate trustee services. We have just introduced a code of conduct so that those who are looking to appoint trustees know what to expect from TACT members. I am very much looking forward to taking up my term as president and tackling the challenges ahead. A key challenge will be adapting the code of practice to the differing areas in which TACT members operate. Pension trustees are already very heavily regulated, perhaps to the detriment of pension scheme members or potential members, as the cost and complexity has deterred some employers from making fuller provision for their employees. On the other hand private trusts are under-regulated. TACT members are keen to see proper controls in particular over will writing and executorship services.”
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