City of London Investment Trust PLC (CTY.LN) said Monday it appointed Philip Remnant as a non-executive Director with effect from Jan. 1, 2011, and added that Remnant will become Chairman following the retirement of Simon de Zoete at the Annual General Meeting in October 2011.

MAIN FACTS:

-Remnant is a Senior Advisor to the investment banking division of Credit Suisse (CS) in Europe.

-Shares at 1623 GMT down 1.20 pence or 0.43% at 280.30 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com
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