Pollen Street Secured Lending plc has recruited a highly experienced Board of Directors. The responsibility for the governance of the Company rests with the Board of Directors. The Board have established corporate governance practices and policies ensuring that the Company meets its objectives and fulfil its obligations to its shareholders within a framework of high standards of corporate governance which it believes are appropriate to an investment trust and complies with the Association of Investment Companies’ Code of Corporate Governance.
The Board has established the following Committees:
Audit Committee - responsible for examining the effectiveness of the Company's control systems and reviewing the half-yearly and annual reports. It is also responsible for reviewing the scope, results, cost effectiveness, independence and objectivity of the external auditor.
Risk Committee - Responsible for keeping under review and monitoring the Company's risk appetite, effectiveness of its risk management process including the principle risks and controls
Management Engagement Committee. Its principal duties are to consider the terms of appointment of the Company's Investment Manager and to annually review that appointment and the terms of the management agreement between the Company and the Investment Manager.
Remuneration Committee - principal duties are to consider the framework and policy for the remuneration of the Directors
Nomination Committee - to review the structure, size and composition of the Board on an annual basis and to give consideration to the succession planning of Directors and determining the membership of each of the Board's Committees.
The Directors are as follows:
Chairman of the Audit Committee
Appointed: 12 February 2014
Michael has had over 40 years’ experience as a qualified lawyer, principally engaged in investment work for a large pension fund and most recently as a consultant to DLA Piper. He had a career in City Local Government, with senior roles at Guildhall including Leader of the Council and Planning Chairman, and also the Museum of London and Property Investment Board. He has also been a non-executive director of British Land and Crossrail and is currently Chairman of Ebbsfleet Urban Development Corporation. He was awarded CBE in 2004 for services to the City of London.
Chairman of the Board, the Nomination Committee and the Insider Committee
Appointed: 12 February 2014
Stuart is an established financial professional with public company and Whitehall experience. He has worked for large, blue chip organisations such as Diageo, Whitbread and Kingfisher and he has also spent a number of years in SMEs. Stuart’s sector exposure is wide and includes financial services, fast moving consumer goods, business to business, mass retailing, technology and entertainment. He has experience of investor relations on both sides of the Atlantic and in Continental Europe. His last executive role was a Whitehall Fixed Term Appointment as Director General and Chief Finance Officer of HM Revenue & Customs. Prior to this he held CFO roles in retail, entertainment and FMCG; and Divisional FD roles in the Food and Drink sector.
Stuart has a second non-executive role; he is the Chair of the British Medical Association Audit & Risk Committee, a position that he has held since 2014. Up until April of this year he chaired the Audit Committee of the Cambridge Building Society and was also the Vice Chairman of the Society. He took InternetQ Plc through the AIM admission process and chaired the organisation through the early stages of its life as a public company. He has previously held non-executive positions in the healthcare sector as well as with the technology company, Psion Plc.
Chairman of the Risk Committee
Appointed: 19 April 2018
David has nearly 30 years’ experience within financial services, beginning his career with Halifax Building Society. He is currently a non-executive director of Leeds Building Society where he is Chair of the Board Risk Committee. Previously he was Chief Executive of Sainsbury's Bank and has held non-executive directorships with The Scottish Government, Amicus Finance plc and was chairman of the Business and Oversight Board at The Law Society of England and Wales. During his career, he has developed a wealth of knowledge in retail financial services and has a strong understanding of risk management.
Senior Independent Director and Chairman of the Management Engagement Committee
Appointed: 12 February 2014
Simon has many years of experience of managing investment companies and trusts. He is currently Chief Investment Officer of Vermeer Partners, a private wealth management company. Following a career in stockbroking, Simon joined Gartmore Fund Managers in 1994 and initially working on the UK Smaller Companies team where he took charge of fund products. in 2000, he became a Senior Investment Manager on Gartmore’s UK Equities team. He established, managed and co-managed a series of funds including the Gartmore UK Focus Fund, the Alphagen Avior Hedge Fund and the Alphagen Octanis Hedge Fund. From 2009 to 2012, Simon worked at Premier Asset Management where he managed UK unit trusts. Simon was also previously a part time Director at Numis Asset Management. Simon brings a wealth of experience in the areas of fund management, regulation and adherence to investment mandates.
Chair of the Remuneration Committee
Appointed: 10 June 2016
Mahnaz is Head of Markets, Europe and America at Australia and New Zealand Bank Group. She was previously Managing Director of Citi EMEA Banking, having joined in 2013 after 19 years at UBS, where she co-headed the EMEA Debt Capital Markets business, leading a team responsible for bond and loan origination, securitization, liability management, derivatives and pension risk management. She was chosen as one of Financial News’ Top 100 Women in Finance in 2010, 2013 and 2015. Mahnaz has previously served on the British Business Bank’s investment committee, which provides capital to non-traditional SME loan providers, including peer-to-peer platforms. She has co-chaired UBS and Citi’s women’s leadership executive committees. Mahnaz holds a PhD in engineering from Imperial College and is a member of the Council of Imperial College.
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