The Board

Our independent non-executive directors are appointed for a fixed term of three years.

James Will


Appointed to the Board in May 2013.

James Will is a former chairman of law firm Shepherd and Wedderburn LLP where he was a senior corporate partner, heading its financial sector practice. He has experience of working with companies in a wide range of industry sectors including financial services, technology, energy and life sciences.

Other investment company directorships: Herald Investment Trust and Edinburgh Dragon Trust.

Russell Napier


Appointed to the Board in July 2009.

Russell Napier runs a course in financial history at Edinburgh Business School and is the author of the book “Anatomy of The Bear: Lessons from Wall Street’s Four Great Bottoms”. He has been providing investment advice to financial institutions for almost twenty years both as a stockbroker and latterly as an independent analyst.

Other investment company directorship: Mid Wynd International Investment Trust.

Jane Lewis


Chair of the Remuneration Committee

Appointed to the Board in December 2015.

Jane Lewis is an investment trust specialist who, until August 2013, was a director of corporate finance and broking at Winterflood Investment Trusts. Prior to this she worked at Henderson Global Investors and Gartmore Investment Management Limited in investment trust business development and at WestLB Panmure as an investment trust broker.

Other investment company directorships: BlackRock World Mining Trust, F&C Capital and Income Investment Trust and Invesco Perpetual UK Smaller Companies Investment Trust.

Mick Brewis


Appointed to the Board in December 2015.

Mick Brewis was an investment manager at Baillie Gifford, retiring in April 2014 after 29 years at the firm, 21 of them as a partner. He was a stockpicker throughout his time there, responsible for managing UK equity portfolios before heading the North American Equities team from 1995 onwards. His broad investment experience includes managing investment teams and research groups, global asset allocation, working with clients (including investment trusts), marketing, graduate recruitment and investor development.

Karyn Lamont


Chair of the Audit Committee.

Appointed to the Board in October 2017.

Karyn Lamont is a chartered accountant and former audit partner at PwC. She has over 25 years of experience and provided audit and other services to a range of clients across the UK’s financial services sector including a number of investment trusts. Her specialist knowledge includes financial reporting, audit and controls, risk management, regulatory compliance and governance.

Other investment company directorships: The North American Income Trust and The Scottish American Investment Trust.