Berkeley Capital is the investment arm of a family office that offers other long term investors with comparable objectives, such as family offices, pension funds and sovereign wealth funds, access to specialist investment services that it has developed for its own account. Its approach to investment is that of a principal. Wherever appropriate it seeks to play an active role in the management of the projects in which it invests. Initial projects are to provide such investors with optimum structures through which to co-invest on a private equity basis and engage in underwriting at Lloyd’s. International Advisory Boards• Official Monetary and Financial Institutions Forum (OMFIF)• Mellenthin Corporate Finance GmbH (Frankfurt)• Al Farida Investments LLC (Abu Dhabi)

Broadened ones experience and extended ones network of relationships through taking on a wide range of largely non-executive appointments, including investment trust companies, corporate finance boutiques and insurance vehicles. As a by-product, one was involved in a large number of projects, including acting as: deputy chairman of the Association of Investment Companies; chairman of the supervisory board of a leading Hungarian bank (Postbank and Savings Bank Corp); chairman of one of the first corporate investment vehicles at Lloyd’s (Aberdeen Lloyd’s Insurance Trust); and a promoter of a new financial advisory business focussed on the Middle East (MerchantBridge). Specific appointments included:Investment Companies – TR Industrial & General Trust PLC; Second Consolidated Trust PLC; Gartmore Value Investments PLC; F&C Private Equity Trust PLC; New Zealand Investment Trust PLC; Finsbury Income and Growth Investment Trust PLC; Exmoor Dual Investment Trust PLC; Gartmore Distribution Trust PLC; Close Finsbury EuroTech Trust PLC; Enhanced Zero Trust PLC; Graphite Enterprise Trust PLC; UTI India Pharma Fund Ltd; New Europe Property Investments PLC.Lloyd’s related insurance companies – Aberdeen Lloyd’s Insurance Trust PLC (now Chaucer Holdings PLC); Hampden Capital PLC; Nomina PLC.International Corporate Finance boutiques – Mellenthin Corporate Finance (Frankfurt, Paris, London); Genesis International Services (Delhi, Dubai); Folio Corporate Finance (Italy).

Responsible for the comprehensive re-focussing of a leading, independent, London-based fund management group that had evolved out of what is now Deloitte & Touche. Ownership of the management company lay with the investment trusts which it had initially been formed to service, although unit trusts, offshore funds, pension funds and private client portfolios were also managed. The strength of the business lay in the broad range of specialist investment skills that had been developed to service the investment trust client base.The strategic objective was to take advantage of the growing international demand for access to such skills by working closely with institutions with distribution franchises of their own. This involved:• Conversion of corporate structure from a non-profit making co-operative to a commercially orientated company with an operationally autonomous board.• Extensive recruitment of additional high quality investment professionals.• Introduction of a technically advanced computer based investment accounting and performance assessment system to reinforce development of a more competitive culture.• Introduction of an equity incentive scheme to align interests of management with those of shareholders.• Establishment of joint ventures with overseas financial institutions, such as Bank of Tokyo and a leading US investment group, as well as appointment to manage global investment portfolios on a subcontracted basis.However, a fundamental principle of the project was to preserve ownership and ultimate control of the management company in the hands of the investment trust company boards in order to ensure that its over-riding priority was to deliver optimum investment performance, rather than maximise short term commercial profitability. In early 1987, and against my advice, a misconceived and unsuccessful attempt to sell the business to a US insurance group led to my departure and the disintegration of Touche Remnant.

Overall responsibility for general management and business development of the Investment Division, which provided asset management and financial advisory services to governments and official institutions in developing countries, especially in the Middle East, South East Asia, Africa, the Caribbean and South America. The largest accounts were for Brunei, Abu Dhabi, Malaysia, Hong Kong and Gibraltar.Given the narrowly defined potential client base, the strategic objectives were to tighten up professional standards and introduce a more competitive culture in order to preserve existing relationships, while broadening the range of services offered to include financial advisory as well as asset management functions. This involved:• Introduction of a technically advanced computer based investment accounting and performance assessment system for the management of large scale, complex, multi-currency portfolios.• Recruitment of professional staff from non-traditional sources and use of leading City-based expertise on a consultancy basis.• Publication of the Crown Agents Financial Review, a review of international financial markets designed for the Crown Agents target client base.• Playing a leading role in the establishment and management of a multi-manager investment team for the Brunei General Reserve Fund, involving Morgan Grenfell, James Capel and HSBC, as well as the Crown Agents, and reporting personally to the Government of Brunei on behalf of all these institutions. • Initiating the provision of advisory services on a broader range of financial issues, including debt management and the development of domestic financial markets.

Responsible for the management of investment portfolios for institutional clients, including pension funds, charities, insurance funds and official institutions. Role also involved reporting to clients and new business development.

Qualified as chartered accountant.

Information Research Department, China Desk.