Churches, Charities and Local Authorities Investment Management has appointed a new trustee to the boards of its Charities Official Investment Funds.
David Henderson, who is chairman of Kleinwort Benson Private Bank, has agreed to start at CCLA immediately. Henderson, who was previously managing director of Russell Reynolds Associates and assistant director at Morgan Grenfell & Co, is an accountant specialising in tax and trust work.
Coif funds, which were the first investment products to cater specifically for the charity sector, manage a total of £2,400m in the Charities Investment Fund, the Charities Property Fund, the Charities Fixed Interest Fund and the Charities Deposit Fund. CCLA estimates that these products are currently used by 30,000 charities in England and Wales.
Ben Wrey, chairman of Coif charity funds, said he was confident Henderson's experience would be of great value to the funds' investors and depositors.