Alliance Trust Investments' managing director, Edward Troughton, will be stepping down within the coming months to pursue another opportunity within the industry. 

With Troughton leaving Alliance before the end of the year, the UK firm’s senior management team will continue to manage the day-to-day running of the business and the fund management responsibilities will remain unchanged. Chief executive Katherine Garrett-Cox will continue to oversee the overall until a replacement is found.

Troughten joined Alliance Trust in February 2008 to help build the asset management business, which currently manages over £2 billion ($3.24 billion) in assets, of which over £1.6 billion is on behalf of third parties.

“We remain committed to the long-term growth of the ATI business so that it will be a positive contributor to the results of the trust,” said Katherine Garrett-Cox.

Earlier this year, Alliance Trust reported its best first quarter performance in over 15 years, when the total shareholder return for the first three months of 2013 reached 15.2 per cent.