In line with the ongoing succession plans being implemented by the Board, Mark Fane stepped down at the AGM on 13 June 2017 after seventeen years as a non-executive director, including eight years as Chairman.
Jeremy Tigue was appointed as Chairman following re-election at the AGM. Jeremy was appointed to the Board in 2008 and has made an invaluable contribution to the governance of the Company during his tenure. He has a wealth of experience in the investment trust sector having managed the Foreign & Colonial Investment Trust (“FCIT”) from 1997 to 2014 and is sitting on a number of other investment trust boards. The FCIT portfolio included a material allocation to private equity and he, therefore, brings this especially relevant experience to the Company.
Peter Dicks stepped down as Chairman of the Audit Committee and was replaced Andrew Pomfret, following his re-election at the AGM.
Mark Fane (Chairman), was appointed to the Board in 2000 and became Chairman of the Board in 2009. He is Chairman and Chief Executive of Crocus.co.uk, an internet-based gardening retailer established in 1999. He is a non-executive director of the commercial arm of the Royal Horticultural Society and was also a non-executive director of Ottakar’s, a company in the portfolio of Graphite Enterprise, from 1992 until its takeover by HMV in July 2006.
Peter Dicks was appointed to the Board in 1998. He is Chairman of the Audit Committee and the Senior Independent Director.
He was co-founder of Abingworth PLC, a venture capital investment company, where he worked from 1973 to 1991. Since then he has been non-executive director or chairman of a number of companies. He is currently Chairman of Private Equity Investor PLC and a non-executive director of Mears Group PLC and Miton UK MicroCap Trust plc.
Jeremy Tigue was appointed to the Board in 2008. He joined F&C Management in 1981 and was the fund manager of Foreign & Colonial Investment Trust from 1997 until 2014.
He is Chairman of BACIT Limited and a non-executive director of The Mercantile Investment Trust plc, The Monks Investment Trust PLC and Standard Life Equity Income Trust PLC.
Andy Pomfret was appointed to the Board in March 2011. He spent over 13 years with Kleinwort Benson as a corporate financier, venture capitalist and finance director of the investment management and private banking division. In 1999 he joined Rathbone Brothers Plc as finance director, and served as chief executive from 2004 until February 2014. He is currently a director of the Wealth Management Association, a member of the Prudential Regulatory Authority’s Practitioner Panel and a non-executive director of Aberdeen New Thai Investment Trust PLC, Old Mutual Wealth Management Ltd, Interactive Investor plc, Sanne Group plc and Miton UK MicroCap Trust plc.
Lucinda Riches was appointed to the Board in July 2011. She worked at UBS and its predecessor firms for 21 years until 2007 where she was a managing director, global head of Equity Capital Markets and a member of the Board of the investment bank. She is a non-executive director of UK Financial Investments Limited, The Diverse Income Trust plc, the British Standards Institution, CRH plc and Ashtead Group plc. She is a trustee of the charity Sue Ryder.
Sandra Pajarola was appointed to the Board in March 2013. She worked for 13 years at Partners Group until 2012. Partners Group is an investment management firm listed in Switzerland with over €27 billion under management in private equity and other private assets. She was a member of the Global Investment Committee which was responsible for commitments to more than 500 private equity funds.
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