Former Threadneedle CIO Joins F&C Investment Trust

CEF DIRECTOR MOVES: Sarah Arkle has been appointed as a non-executive director of Foreign & Colonial Investment Trust; the manager and founder of SVM will not be standing for re-election; and more

Jackie Beard, FCSI, 7 March, 2011 | 10:07AM
Facebook Twitter LinkedIn

Director Changes: February 28-March 4
Marco Chiappelli has retired from the board of Aberforth Smaller Companies (ASL), having served as a non-executive director for nearly 10 years.

Two new faces have joined the board of private equity firm B.P.Marsh & Partners (BPM). Both Daniel Topping and Camilla Kenyon are first-time executive directors; Topping started at the firm in 2007 and is Assistant Company Secretary. Ms Kenyon has been with the firm for five years and is Head of Investor Relations.

Sarah Arkle has been appointed as a non-executive director of Foreign & Colonial Investment Trust (FRCL). Ms Arkle stepped down as CIO of Threadneedle in July 2010 and at the same time she gave up her fund management responsibilities. Having run global mandates at Threadneedle, she brings a long and very relevant experience to the board of this global fund. Nicholas Moakes has also joined the board in a similar role. Moakes is part of the Developing Capital Markets team at BlackRock. These appointments take the board to 10 members, of which the average tenure is four years and average time in that position a little lower at 3.75.

Douglas Naismith has resigned as a director of Fidelity China Special Situations (FCSS), having been on the board since the company’s launch in April 2010. He has been replaced by Gary Shaughnessy. Naismith’s resignation is due to his departure from Fidelity, where he was managing director of the group’s defined contribution and retail business, a position which Shaughnessy has filled. Previously, Shaughnessy served as a director of M&G Equity Investment Trust, from 2003 to 2006.

Paul Hammerstad has retired from the board of Japan Residential Investment (JRIC) after five years in this role. In his place, Richard Crowder has been appointed as a non-executive director. Crowder already serves as chairman on two listed company boards and as a non-executive director on two more, as well as serving a whole raft of non-listed companies. We will be monitoring this carefully to ensure Crowder is able to dedicate an appropriate amount of time to each board.

Robert Robertson has joined the board of UK equity company Lowland (LWI). He also serves on the board of BlackRock Smaller Companies (BRSC).

Ian Burns has joined the board of Phaunos Timber (PTF). This is the third appointment to the board this year already and takes the average time served on the board to just two years.

Barry Rose has joined the board of Shires Smaller Companies (SHD). He is also Chairman of closed-end company Baillie Gifford Shin Nippon (BGS). At the same time, he has announced his intention to step down from the board of Wolfson Microelectronics.

There are changes afoot on the board of SVM UK Active (SVU). Investment manager, managing director and founder of SVM, Colin McLean, has announced he will not be standing for re-election to the board at the next AGM. Richard Brooman has been appointed to the board; he brings a wealth of experience in UK smaller companies. He is currently deputy chairman of Invesco Perpetual UK Smaller Companies (IPU) and a non-executive director of private equity firm HgCapital Trust (HGT), and has been on the board of the former since 1988.

There’s a new chairman of the board at Unitech Corporate Parks (UCP). Atul Kapur has resigned as both chairman and director with immediate effect. Aubrey Adams is the new chairman and he has been on the board since the company launched in 2006. This is the first change to board members and Adams assuming this role ensures some consistency for investors.

Director Buying
Aberforth Smaller Companies (ASL) – Professor Walter Nimmo
AcenciA Debt Strategies (ACD) - M J Gross
Alliance Trust (ATST) – Robert Burgess, Alan Trotter, Katherine Garrett-Cox
Bankers (BNKR) – Richard Brewster
City of London (CTY) – Sir Keith Stuart, Simon Barratt
Dunedin Enterprise (DNE) – Federico Marescotti
Henderson TR Pacific (HPI) – David Robbins
Law Debenture (LWDB) – Caroline Banszky
Primary Health Properties (PHP) – Phil Holland
Scottish American (SCAM) – Rachel Lomax
Throgmorton Trust (THRG) – Eric Stobart
Utilico Investments (UTL) – Eric Stobart

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

About Author

 

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures