Board

All directors are independent of the manager and are members of the Audit Committee.


David Watson
Chairman of the Board
Appointed: April 2012

Experience: David succeeded as Chairman on 28 July 2020. Prior to that he was the Senior Independent Director on 30 September 2018 where he simultaneously handed Chairmanship of the Audit Committee to Tim, a position he was appointed from 1 January 2013. He spent 9 years as Finance Director of M&G Group plc, where he was a director of four equity investment trusts, and more recently at Aviva plc as Chief Finance Officer of Aviva General Insurance. He is a Chartered Accountant and has had a distinguished career in the Financial Services Industry.

Skills and Contribution to the Board: Throughout his executive career, David has accumulated relevant skills in finance, audit and risk management and experience in the investment industry. In addition, his experience in a number of boards gives him the skills in investor and shareholder engagement, making him the most appropriate to be the Chairman.

Other Appointments: David is currently Deputy Chairman of Countrywide plc, Chairman of Kames Capital plc and a non-executive director of Hermes Fund Managers Limited, where he Chairs the Audit Committee.


Simon Marrison
Senior Independent Director
Appointed: September 2011

Experience: joined the Board of the Company on 28 September 2011 and became Senior Independent Director on 28th July 2020. He has over 30 years’ experience in the European property investment industry. He is currently senior advisor for European Real Estate at KKR (Kohlberg Kravis Roberts). Prior to this he spent 19 years at LaSalle investment Management where he was European CEO for 12 years with responsibility for a portfolio of over €20 billion across Europe. Mr Marrison has been based in Paris since 1990 having started his career in London. Until 1997 he was a partner at Healey & Baker (now Cushman & Wakefield) and from 1997 to 2001 he was at Rodamco where he became Country Manager for France. He joined LaSalle in 2001 as Managing Director for Continental Europe.

Skills and Contribution to the Board: Simon brings in a wealth of experience, particularly in the European property market. He has gained leadership and management skills in his executive roles and relevant skills in investment management.

Other Appointments: Senior advisor for European Real Estate at KKR (Kohlberg Kravis Roberts)


Tim Gillbanks
Chairman of the Audit Committee
Appointed: January 2018

Experience: Tim is a Chartered Accountant, with 30 years’ experience in the financial services and investment industry. Most recently he spent 13 years at Columbia Threadneedle Investments, initially as Chief Financial Officer, then Chief Operating Officer and finally as interim Chief Executive Officer.

Skills and Contribution to the Board: Tim brings a wide experience, particularly in financial services and investment management. His previous financial experience during his executive career informs him in his role as the Chairman of the Audit Committee.

Other Appointments: Tim is currently a Non-Executive Director for Henderson Global Investors Limited and Henderson Group Holdings Asset Management Limited. He is also Vice-Chair of the Board of Trustees of Blood Cancer UK.


Kate Bolsover
Non-Executive Director
Appointed: October 2019

Experience: She previously worked for Cazenove Group and J.P. Morgan Cazenove between 1995 and 2005 where she was managing director of the mutual fund business, and latterly director of Corporate Communications. Prior to this, she worked extensively in the investment fund industry and was managing Director of Baring’s mutual fund group. Kate was also previously a non-executive director of JP Morgan American Investment Trust PLC until 2016, Senior Independent Director of Montanaro UK Smaller Companies Trust until 2019 and Chairman and Trustee of Tomorrow’s People until 2017.

Skills and Contribution to the Board: From her executive experience, Kate contributes significant and relevant skills of the investment industry to the Trust. Kate’s role in various boards also gives her the relevant experience in investor and shareholder engagement.

Other Appointments: Kate is currently Chairman of Fidelity Asian Values Trust and of Invesco Enhanced Income Trust. She is also a non-executive Director of Baillie Gifford & Co Ltd.


Sarah-Jane Curtis
Non-Executive Director
Appointed: January 2020

Experience: Sarah-Jane is a Member of the Royal Institution of Chartered Surveyors. Sarah-Jane was previously Business Director at Bicester Village for Value Retail. Before this, Sarah-Jane was Director, Covent Garden for Capital and Counties PLC. She has also worked for Grosvenor for 24 years including as London Estate Director (retail/Residential) and Fund Manager for LiverpoolONE.

Skills and Contribution to the Board: Sarah-Jane has gained extensive experience during her varied career, particularly in the retail, and experience sectors and for Fund and Investment management activities.

Other Appointments: Sarah-Jane is currently Property Director of Bicester Motion as well as a consultant to Value Retail PLC.