Allister Heath, editor of weekly magazine The Business, has been appointed editor of the finance and business free newspaper City AM, after the departure of David Parsley last year.
Heath, 30, was made editor of The Business on 1 January last year and joined as economics correspondent in 2002. He is also associate editor of The Spectator which like The Business is owned by Press Holdings, of which Andrew Neil is chief executive.
Before joining The Business, Heath was head of the European Journal and was in charge of research at the Europe Foundation.
Jens Torpe, chief executive and co-founder of City AM said: ‘Allister reflects many of the qualities of City AM – young, established in his field and ambitious.
‘There’s a major opportunity for us and Allister, not least given that City AM is the only daily business-focused free paper in London, with some 85 per cent of its readership aged below 45 years. I’ve no doubt Allister will appeal to our readership, advertisers and the journalists on the paper.”
Torpe thanked David Hellier, who has been acting editor for the last six months.
Allister Heath said: ‘I am delighted to be joining City AM, London’s most vibrant and dynamic newspaper. The editorial team is fantastic and the paper they produce so professionally every day has established itself as an essential read. I now intend to build on their hard work to take City AM to the next level and make it the best, most talked-about and most exciting paper for everybody who works in the City of London”.
City AM, now in its third year, has a current daily circulation of 95,862.
The paper claims that in the last quarter of 2007, the paper reached more than 400,000 people each week, including 16 per cent of all Londoners earning in excess of £50,000.