For Immediate Release: Thursday 17 May 2001

NEW AUTIF DIRECTOR

The Association of Unit Trusts and Investment Funds (AUTIF) has appointed Julie Patterson as Director of Regulation and Taxation, with immediate effect. She takes over from Sheila Nicoll, who was promoted to Deputy Director General in February this year.

Julie joined the Association in 1999 as Senior International Policy Adviser, covering EU issues and wider international liaison.

Richard Saunders, Director General of AUTIF, commented:

"Julie’s well-deserved promotion to head our regulatory team is an important strengthening of AUTIF’s management team, at a time when the industry faces exciting challenges."

Before joining AUTIF Julie spent 14 years at the Bank of England, during which she had a variety of responsibilities – markets surveillance, banking supervision, personnel, management of the Government’s yen-denominated reserves – graduating to Senior Manager, fx clearing houses. In 1998, she transferred to the Markets & Exchanges Division of the newly-created Financial Services Authority, where she had a wide-ranging portfolio, including on-going supervisory responsibilities, input into the new Financial Services & Markets Act, policy development and transitional management issues. She graduated in Mathematics and Management Applications and has a PhD in Applied Mathematics.

Richard Saunders, Director General +44 (0)20 7831 0898
Anne McMeehan, Director of Communications +44 (0)20 7831 0898
Clare Arber, PR Manager +44 (0)20 7831 0898

Notes to Editors:

AUTIF is the trade body representing the UK unit trust and investment funds (mutual funds) industry. The companies that are members of the Association are responsible for more than 99% of the industry’s funds under management.