Baillie Gifford Shin Nippon PLC Directorate Change (8710J)
08 December 2018 - 2:34AM
UK Regulatory
TIDMBGS
RNS Number : 8710J
Baillie Gifford Shin Nippon PLC
07 December 2018
Baillie Gifford Shin Nippon PLC
Appointment of Director
The Board is pleased to announce the appointment of Mr Jamie
Skinner as a non-executive Director of Baillie Gifford Shin Nippon
PLC ('the Company') with effect from 7 December 2018.
Jamie Skinner is a qualified accountant and a fellow of the
Chartered Institute for Securities and Investment. Jamie joined
Cazenove & Co in 1989 as a corporate finance executive working
principally on investment companies and also other sector IPO
activity, and in 1995 he was appointed Managing Director of the
Johannesburg office. In 1999 Jamie joined Martin Currie Investment
Management Limited as a director and in 2014 was appointed Head of
Client Services. Jamie served as President and CEO of The China
Fund, Inc. until 2012, President and CEO of The Taiwan Fund, Inc.
until 2014 and President of the Martin Currie Business Trust until
2015. Jamie also served on the boards of Martin Currie, Inc. and
the Martin Currie Japan Absolute Return Fund up to his retirement
from Martin Currie on 31 July 2018.
Jamie is a non-executive director of Ediston Property Investment
Company plc and the Asian Opportunities Absolute Return Fund
Limited and Audit Chair of the Ashoka India Equity Trust plc.
Neil Donaldson, Chairman of Baillie Gifford Shin Nippon
commented:
"My fellow Directors and I are delighted to welcome Jamie to the
Board. Jamie has many years of experience in Asian markets and his
extensive knowledge will be of great benefit to the Board and to
the Managers."
The appointment of Mr Skinner falls to be ratified by
shareholders at the Annual General Meeting of the Company to be
held in 2019.
In accordance with Listing Rule 9.6.13, the Company advises that
in his former capacity as one of the lay trustees of the Martin
Currie pension scheme, Mr Skinner has been the subject of public
criticism by The Pensions Regulator ('the Regulator') (albeit not
personally named) pursuant to a Section 89 intervention report
issued on 28 September 2018.
The report relates to the Regulator's investigation into the
status of the scheme following the acquisition of the Martin Currie
group by Legg Mason in 2014, and the management of the potential
conflict of interest of the lay trustees as shareholders in the
group being sold (which were addressed at the time by excluding
them from the sale negotiations). As part of the Regulator's
intervention, a new independent professional trustee was appointed
and Mr Skinner, as a conflicted lay trustee, stepped down and
agreed to refrain from taking on other occupational pension scheme
trusteeships.
The Regulator has now granted final clearance to the
improvements for scheme members agreed by the Martin Currie group
since the Regulator's intervention.
There is no other information is required to be disclosed under
section 9.6.13 of the Listing Rules.
Baillie Gifford & Co Limited
Managers and Secretaries
7 December 2018
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END
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