Board of directors

Mr Cowdell has focused on the financial sector throughout his career, initially as a solicitor and then as a corporate broker and adviser. He was previously co-founder and head of the ABN AMRO Global Investment Funds Team and then Head of Financials at RBS Hoare Govett. He is currently an independent non-executive director of Schroder UK Growth Fund plc and Thomas Miller Holdings Limited and a former director of Catlin Underwriting Agencies Limited, Catlin Insurance Company (UK) Limited, XL Insurance Company SE and XL London Market Limited. Mr Cowdell is a Freeman of the City of London and a member of the Institute of Directors and the Chartered Insurance Institute.

Ms Sally-Ann Farnon (known as Susie) is an independent non-executive director of the Company, and a member of the Company's Audit Committee, Nomination Committee and Management Engagement Committee. Susie is a Fellow of the Institute of Chartered Accountants and a non-executive director of a number of property and listed investment companies. She has served as President of the Guernsey Society of Chartered and Certified Accountants; as a member of The States of Guernsey Audit Commission and as Vice-Chairman of the Guernsey Financial Services Commission.

All Directors are independent of the Investment Manager and free from any business or other relationship that could materially interfere with the exercise of their independent judgement.

The Directors are committed to zero tolerance towards the criminal facilitation of tax evasion.

The Board has established an Audit Committee, a Nomination Committee and a Management Engagement Committee, in each case with formally delegated duties and responsibilities within written terms of reference. The terms of reference may be requested by contacting the Company Secretary (reci@aztecgroup.co.uk or 01481 748831).

Mr Hallam is a Fellow of the Institute of Chartered Accountants in England and Wales and qualified as an accountant in 1971. He is a former partner of PricewaterhouseCoopers having retired in 1999 after 27 years with the firm both in Guernsey and in other countries. He is the Chairman of NB Distressed Debt Investments Ltd as well as being a director of a number of financial services companies, listed on the London Stock Exchange or elsewhere. He served for many years as a member of the Guernsey Financial Services Commission from which he retired in 2006 having been its chairman for the previous three years.

Colleen McHugh is managing director of 1818 Venture Capital, a licensed asset manager based in Guernsey. In addition, she is a non-executive director for a private investment fund. She sits on the Investment committee for Wealthify (part of the Aviva PLC group) a UK regulated Robo-adviser. Colleen has over 20 years’ experience in the investment and financial services industry having worked predominantly as an Investment Manager and Private Banker for publicly listed banks such as HSBC, Barclays and Butterfield Bank, across several regions, but with a focussed on international financial centres. She holds an economics degree from the University of Ireland (Galway) and a MBA from the University of London. Colleen is a Chartered Wealth Manager and a fellow of the Chartered Institute of Securities and Investment.