By Jennifer Cosgrove

DUNDEE-BASED Alliance Trust yesterday announced the resignation of its chief executive, following his appointment at a global financial services company.

Alan Harden (50) will leave the company to become chief executive of ING Investment Management in the Asia-Pacific region in the autumn, on a date yet to be agreed.

In a statement released by the company, Lesley Knox, chairman of Alliance Trust, said, “We are very sorry that Alan is leaving us just as many of the changes he has introduced since he became chief executive in 2004 are coming to fruition.

“During his period of office he has led the modernisation of Alliance Trust, recruiting Katherine Garrett-Cox who as chief investment officer is revitalising the investment process, and also growing our financial services business, Alliance Trust Savings, which has increased substantially both in customer numbers and revenue under his leadership. We thank him for his enormous contribution and wish him well in this next phase of his career.”

Alan Harden said last night, “I have enjoyed my time with Alliance Trust enormously.

“However, having created a sound platform for the company’s future and put in place a strong management team which I am confident will take Alliance Trust forward, the time is right for me to take up this challenging new role.

“I wish Alliance Trust every success in the future.”

Mr Harden joined the company as chief executive designate in 2003 and was appointed chief executive in 2004.

He started his career in the investment industry in the UK in 1978, moving to Europe in 1980 and then on to Cyprus two years later.

From 1984 to 1990 he was with Wardley Investment Services, part of the HSBC group, and relocated to Dubai in 1985.

In 1988, he moved to Hong Kong as a senior investment manager, joining the Standard Chartered Bank in 1990 as managing director of Scimitar Asset Management, based in Singapore.

In 1994 he became global head of investment services, moving in 2000 to Citigroup Asset Management in Japan as managing director and head of the asset management business in the Asia-Pacific region and a member of the global executive committee.

Mr Harden is a director of the Scottish Community Foundation, a member of the Court of St Andrews University and an honorary professor of the school of accounting and finance at Dundee University.

In his time as chief executive, Mr Harden has overseen several changes in the company including a vote by shareholders of Alliance Trust and Second Alliance Trust to merge under the banner of Alliance Trust Plc in 2006.

He has also been heavily involved in the creation of a new £12.5 million Dundee headquarters in the city’s Marketgait to replace the existing Meadow House in Reform Street. The new building, expected to be completed by the end of the year, will see more than 300 staff from Alliance Trust’s three existing sites in the city under one roof and bring 160 new jobs to Dundee.