The Board is responsible for the governance of the Premier Miton Group plc group of companies (the “Group”) and meets regularly. The Board chooses to report against the Quoted Companies Alliance (the ‘QCA’ code).
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The Board also intends to comply, as far as practicable, with certain of the principal requirements of the UK Corporate Governance Code although strictly this code does not apply to the Company. The Board comprises of eight Directors, of whom two are executive and six are non-executive. The posts of Chairman and Chief Executive are held by different directors. The Board considers, having regard to the QCA Code, that there are currently three independent Non-Executive Directors.
The Premier Miton Group plc Board comprises of 8 Directors, 6 of whom are non-executive.
David Barron | Non-Executive Director
Premier Miton Group Directorships: 1
Non-Premier Miton Directorships: 2 – Dunedin Income Growth Trust plc, Fidelity Japan Trust plc.
David is a member of the Audit and Risk Committee
David has held senior positions in the asset management industry for over 25 years. He is Chairman of Dunedin Income Growth Trust plc. David was Chief Executive of Miton Group plc until the merger with Premier Asset Management Group plc in November 2019. He had held that position from March 2017, having joined Miton in 2013. Prior to that, he had spent nearly 20 years with JPMorgan Asset Management and predecessor companies, latterly leading the UK’s number one investment trust business. He had previously worked with Hambros Bank and Merrill Lynch in corporate finance. David is a member of the Institute of Chartered Accountants of Scotland and holds an MBA from INSEAD.
Robert Colthorpe | Non-Executive Director
Chairman
Premier Miton Group Directorships: 1
Chair of the Nomination Committee
Non-Premier Miton Directorships: 2 – Colthorpe Associates LLP (LLP Designated Member), Aves Enterprises LLP
Robert is Chair of the Nomination Committee, and a member of the Remuneration Committee.
He is a highly experienced corporate financier with over 25 years of experience advising a wide range of clients, mainly in the financial services sector. He has worked at major merchant and investment banks (Morgan Grenfell, Deutsche Bank, Société Générale and ABN Amro) and boutique advisory firms (Hawkpoint and Europa Partners). He qualified as a Chartered Accountant with Arthur Andersen. Robert was appointed to the Board in 2016, appointed a Non-Executive Director of Premier Portfolio Managers Limited in, September 2019 and became Non-Executive Chair of the Board on 3 February 2021.
Alison Fleming | Non-Executive Director
Premier Miton Group Directorships: 1
Non-Premier Miton Directorships: 3 – Hoya Limited, Saffarroon Limited
Alison is a member of the Remuneration Committee.
She has had an extensive career in financial markets over the last 25 years, holding senior positions within investment banks and boutique asset managers. Initially in investment banking (including UBS, Lehman Brothers, Credit Lyonnais) predominantly focused on public markets in sales, including running sales and sales trading in Europe. Latterly in private markets working across hedge funds, real assets, renewable energy and sustainable agriculture. Alison brings experience in stake holder engagement, compliance, ESG, sales and marketing, governance and business development.
Piers Harrison | Executive Director
Chief Financial Officer
Premier Miton Group Directorships: 20
Non-Premier Miton Directorships: 0
Piers was appointed Chief Financial Officer of Premier Miton Group plc in November 2019 following the merger of Premier Asset Management Group plc and Miton Group plc. He joined Miton Group plc in 2013 and was previously the Deputy Finance Director and Head of Operational Risk with Neptune Investment Management Ltd. Before that Piers specialised in the financial services sector and in 2008 became a partner in Matterley, a Fund Management business whose interests were acquired by Charles Stanley Group Plc in September 2009. He is a Fellow of the Institute of Chartered Accountants in England & Wales having trained and qualified with Saffery Champness in 2001.
Sarah Mussenden | Non-Executive Director
Premier Miton Group Directorships: 1
Non-Premier Miton Directorships: 0
Sarah Mussenden is a member of the Audit and Risk Committee.
She has over 25 years’ experience in senior financial positions across multiple sectors, predominantly in large consumer facing multinational corporates. Sarah qualified as a Chartered Accountant with Deloitte. Her subsequent roles have included: Chief Financial Officer at British Gas, Bart’s and The London NHS Trust and Metropolitan Housing Trust, and Finance Director at British Airways. Sarah was appointed as a Non – Executive Director to the Board in June 2021.
Mike O’Shea | Executive Director
Chief Executive Officer
Premier Miton Group Directorships: 16
Non-Premier Miton Directorships: 0
Mike was appointed Chief Executive Officer of Premier Miton Group plc in November 2019 following the merger of Premier Asset Management Group plc and Miton Group plc. He started his investment career as a private client portfolio manager. He joined Premier Asset Management in 1986 to develop the asset management business of the company and was one of the founding directors of Premier Fund Managers in 1988. Mike became Chief Executive Officer of Premier Asset Management in May 2005.
William Smith | Non-Executive Director
Premier Miton Group Directorships: 1
Chair of the Renumeration Committee
Non-Premier Miton Directorships: 2 – Westbeck Capital Management LLP, George Hattersley Limited
Will is Chair of the Remuneration Committee and a member of the Audit and Risk Committee, the Nomination Committee and is Senior Independent Director.
He is a founding partner and Chief Investment Officer at Westbeck Capital Management LLP, an energy focused hedge fund based in London. He is also currently a non-executive director of George Hattersley Limited, a textile manufacturer based in Yorkshire. Will was lead fund manager of City Natural Resources High Yield Trust an Investment Trust, and co-manager of a number of other closed end funds while at CQS and had previously worked at Morgan Grenfell and UBS Phillips and Drew. Will was appointed a Non-Executive Director of Premier Portfolio Managers Limited, effective 30 September 2019.
Sarah Walton | Non-Executive Director
Premier Miton Group Directorships: 2
Chair of the Audit and Risk Committee
Non-Premier Miton Directorships: 1 – Sarah Walton Limited
Sarah is Chair of the Audit & Risk Committee.
She is an experienced financial services professional with a 25-year career spanning a diverse range of products, geographies and sectors. She qualified as a Chartered Accountant with Coopers & Lybrand. Sarah then spent 15 years at Goldman Sachs as Head of Corporate Accounting in London and then with GSAM in New York as Head of U.S Hedge Fund and Mutual Fund Controllers. She was most recently the Chief Financial Officer of Gemcorp Capital LLP, an Emerging Market Investment Manager and Commodity Trading Company. Her experience covers fixed income, credit, private equity, real estate, structured products, trade finance and commodities. Sarah was appointed as a Non – Executive Director to the Board in June 2021.
The Audit and Risk Committee meets formally at least twice a year. The Chief Executive Officer, Chief Financial Officer and Chief Operating Officer and other Directors may be invited to attend for all or part of the meetings. The external auditor of the Company will attend the meetings on a regular basis and will have unrestricted access to the committee and its Chair. The purpose of the Audit and Risk Committee is to assist the Board in discharging its corporate governance responsibilities in relation to the Company’s external auditors and to provide assurance regarding the reliability and appropriateness of the disclosure of the financial statements.
The Remuneration Committee meets as required and at least once each year. Other senior management and external advisers may be invited to attend meetings as the Remuneration Committee considers appropriate.
The Remuneration Committee considers all material elements of remuneration policy, remuneration and incentives of executive directors and senior employees with reference to independent remuneration research and professional advice and will make recommendations to the Board on the framework for executive remuneration and its costs.
The Board is then responsible for implementing its recommendations and agreeing the remuneration packages of individual Directors. Non-Executive Directors’ fees will be determined by the full Board.
The Nomination Committee is responsible for, amongst other matters, evaluating the balance of skills, experience, independence and knowledge on the Board, the size, structure and composition of the Board, retirements and appointments of additional and replacement directors and will make appropriate recommendations to the Board on such matters.
The Nomination Committee also considers succession planning, taking into account the skills and expertise that will be needed on the Board in the future.
©Premier Miton Investors. 2021. Issued by Premier Miton Investors. Premier Portfolio Managers Limited is registered in England no. 01235867. Premier Fund Managers Limited is registered in England no. 02274227. Both companies are authorised and regulated by the Financial Conduct Authority and are members of the ‘Premier Miton Investors’ marketing group and subsidiaries of Premier Miton Group plc (registered in England no. 06306664). Registered office: Eastgate Court, High Street, Guildford, Surrey GU1 3DE.