Board

David Nichol (Chairman)

David was appointed as a Director in 1985 and Chairman in 2004. He is a consultant to Rossie House Investment Management, a firm which manages portfolios for private clients.

Richard Horlick

Richard was appointed as a Director in 2005. He is also a non-executive director of Tau Capital plc. He was, from 2002 until 2005, a director of Schroders plc, where he was Head of Investments and a member of the General Management Committee. Between 2001 and 2002 he was Chairman, Chief Executive Officer and President of Fidelity Management Trust Company, where he was responsible for institutional business in the U.S. Between 1994 and 2001 he was President, Institutional Business, of Fidelity International, where he was responsible for investments and the development of institutional assets.

Stuart Leckie, OBE

Stuart was appointed as a Director in 2001. He was Chairman of Watson Wyatt, Asia Pacific until 1995 then Chairman of Fidelity Investments, Asia Pacific until 1998. He has been President of the Actuarial Society of Hong Kong (1981 and 1999) and was Chairman of the International Actuarial Association’s China Committee. He has served on various committees in Hong Kong’s Securities and Futures Commission and was a director of Exchange Fund Investment Limited. He is an advisory council member of the CFA Institute Advisory Council.

Terence Mahony

Terrence was appointed as a Director in 2004. He is Managing Director of TFM Management Limited, a firm of investment consultants based in Hong Kong. He has over 35 years’ investment experience, the last 25 of which have been gained in Asia. He is also a non-executive director of Advance Developing Markets Fund Limited, Impax Asian Environmental Markets plc and Citic Capital Investment Management.

Nigel Rich, CBE

Nigel is Senior Independent Director and Chairman of the Audit Committee. He was appointed as a Director in 1997 and was previously Managing Director of Jardine Matheson in Hong Kong. He is Chairman of Segro plc and executive Chairman of Xchanging plc. His non-executive directorships include Bank of the Philippine Islands (Europe) plc and Matheson & Co Limited.

All Directors are members of the Audit, Engagement and Remuneration and Nomination Committees.