The Unit Trust Corporation has a new chief executive officer.

Eutrice Carrington, who previously held the position of UTC vice-president, Asset Management, was appointed to the position of CEO, Financial Services, effective yesterday.

UTC board member Marlon Holder remains executive director of the Port of Spain-based financial institution.

He was appointed executive director of the UTC in December 2006 and has been involved in banking and financial services for about 25 years.

Carrington now has direct responsibility for the UTC’s asset management, merchant banking and group treasury operations.

Her promotion will allow for a ’more synergistic approach’ to the management of these key businesses to the benefit of customers, the UTC said in a statement following enquiries by the Express yesterday.

Carrington holds Bachelor’s and Master’s degrees in economics and has 18 years’ experience in the area of asset management.

During her tenure at the UTC assets under management grew from $383 million to $16 billion while the range of mutual fund products increased from two to ten products.

Previously she also held the positions of manager, Investments, portfolio manager and security analyst at the UTC.

Carrington sits on the board of UTC Fund Services Inc, a United States-registered investment adviser that is a subsidiary of the Unit Trust, the Corporation said.