James Will named chairman of Scottish Investment Trust

The former chairman of law firm Shepherd and Wedderburn has taken the helm of the Scottish Investment Trust (SIT).

James Will succeeds Douglas McDougall as SIT chairman

Will, who joined SIT’s board in May 2013 as a non-executive director, succeeds Douglas McDougall as chairman of the Edinburgh-based trust, which has also announced that its total dividend payout for the year to 31 October will rise by a third to 16p a share.

“The board and I would like to thank Douglas for his leadership and contribution to the Scottish Investment Trust as a director and as chairman,” said Will, a former council member of CBI Scotland who is also a non-executive director of Herald Investment Trust. He was replaced as chair of Shepherd and Wedderburn by Paul Hally in October 2014.

Will added: “SIT offers investors low-cost access to global investment opportunities and has a long track record of dividend growth. I look forward to working with the management team and the board to continue to provide a long-term attractive return for shareholders.”