The board of Polar Capital Global Financials Trust Plc has announced the appointment of Simon Cordery to the role of chairman of the company with effect from 30 March 2023. Simon has been a non-executive director of the company since 1 July 2019.
He replaces Robert Kyprianou who has been chairman since its launch, as part of a two-year succession plan.
The board of the company commented ‘Robert has led the company and the board with compassion, dedication and enthusiasm, keeping the interests of shareholders front and centre of decision-making. As chairman, Robert oversaw the successful reconstruction of the company as it approached its end-of-life fixed term in 2020 at the tumultuous onset of Covid, and its subsequent growth. Robert has steered the board through many challenges over the past ten years, bringing his steady calm, good humour and knowledge of the global financials sector to the task. With Simon stepping up to chair the company we now look forward to the next stage in the company’s life.’
Investment manager update
John Yakas, one of the three co-managers of the company’s portfolio will be retiring from Polar Capital LLP (the company’s investment manager) with effect from 30 June 2023 and stepping back to an advisory role. The remaining team responsible for the management of the company’s portfolio has significant experience of investing in the financials sector having grown from three to five since the company’s inception in 2013 along with a significant growth in the assets for which they are responsible. The portfolio will continue to be managed by Nick Brind and George Barrow. Nick has managed the portfolio since inception while George has been part of the team since 2008 and was named co-manager in 2019.
PCFT : Polar Capital Global Financials announces new chairman