H M Henderson * ‡ Appointed a director in 1988,  Harry Henderson became Chairman in March 2003. He was formerly a partner of Cazenove & Co. and subsequently a senior executive at Cazenove Group plc, retiring in 2002. Mr Henderson is Chairman of Witan Investment Services Limited. He is also a director of Cadogan Settled Estates Limited.

A L C Bell MA Andrew Bell was appointed a director and Chief Executive Officer with effect from February 2010. He is responsible for the overall management of Witan. He has worked in the City since 1987, as an equity strategist and subsequently as Co-Head of the Investment Trusts team at BZW and Credit Suisse First Boston. From 2000 until 2010 he worked for Rensburg Sheppards Investment Management Limited as Head of Research and Strategy. Prior to the City, he worked for Shell in Oman, leaving to take a Sloan Fellowship at the London Business School. He is a non-executive director of Henderson High Income Trust plc and the Association of Investment Companies. Mr Bell is a director of Witan Investment Services Limited.

R A Bruce * † MA, MBA Andrew Bruce was appointed a director in 2002. He is Group Credit Risk Director at Barclays PLC where he has responsibility for asset quality and credit risk across the Barclays Group. He is also a member of the Advisory Board of Clearstream International.

A Watson * † CBE, BSc (Econ), ASIP, Barrister-at-Law, FSI (Hon) Tony Watson was appointed a director in 2006. He was appointed Senior Independent Director in February 2008. He is a non-executive director of Hammerson plc, Lloyds Banking Group plc and Vodafone Group Plc and the Shareholder Executive. He was chairman of the Trustees of Marks & Spencer Pension Scheme and Strategic Investment Board Limited (Northern Ireland) and was a member of the Financial Reporting Council. Mr Watson retired in 2006 from an executive career in the investment management industry, most recently as Chief Executive of Hermes Pensions Management Limited.

J Bevan * MA James Bevan was appointed a director in 2007. He is CIO, CCLA Investment Management. Before joining CCLA in November 2006, he was the Chief Investment Officer at Abbey. Prior to Abbey, he was Chief Investment Officer for Barclays Stockbrokers and Barclays Personal Investment Management, having joined BZW in 1988, following post graduate research in applied economics and asset allocation at Cambridge University.

R W Boyle * † MA FCA Robert Boyle was appointed a director in 2007. He is a Chartered Accountant and was a partner of PricewaterhouseCoopers LLP, where he was responsible for multi-national client accounts, specialising in the telecoms and media sectors: he was Chairman of the PWC European Entertainment & Media Practice for twelve years retiring in 2006. He is a non-executive director, and chairman of the audit committee of Maxis Berhad (in Malaysia), Centaur Media plc, Prosperity Voskhod Fund Limited (an AIM listed company) and the Southern Health NHS Foundation Trust and a non-executive director of Schroder AsiaPacific Fund plc. He is also the independent member of the audit committee of the National Trust.

M C Claydon * ‡ BA, MBA Catherine Claydon joined the Board in 2009. From 1992 to 2007 she worked at Goldman Sachs, from 2002 as Managing Director, Pension Advisory Group. She held the same position at Lehman Brothers from 2007 to 2008. She is a non-executive director of London Metal Exchange Limited, Dunedin Income Growth Investment Trust and Witan Investment Services Limited. She is an independent member of Barclays UK Pension Fund and Unilever UK Pension Fund's Investment Committee.

R J Oldfield MA, Richard Oldfield joined the Board on 1 May 2011. He is chief executive of Oldfield Partners LLP, an investment management firm which he founded in 2005 after nine years as chief executive of a family investment office. Before that he was a director of Mercury Asset Management plc which he joined in 1977. He is chairman of the Oxford University investment committee and was chairman of Keystone Investment Trust plc from 2001 to 2010. He is a trustee of Royal Marsden Cancer Charity and of Canterbury Cathedral Trust. 

S E G A Neubert * Suzy Neubert will join the Board on 2 April 2012. She is Sales & Marketing Director at J O Hambro Capital Management, which she joined in March 2006. She was previously Managing Director of Equity Markets within the Global Markets and Investment Banking Group at Merrill Lynch Securities in London. From 1993, she worked at Smith New Court Europe (later taken over by Merrill Lynch) as a European equity analyst and later as Director of European Equity Sales. Prior to Smith New Court, she worked at Hambros Bank as an Executive in the Corporate Finance division. She is a qualified barrister.

* Independent non-executive directors.
† Members of the Audit Committee which is chaired by Mr Boyle.
‡ Members of the Remuneration Committee which is chaired by Mrs Claydon.

As at March 2012