The Board

1. The Board

Collectively the Board has extensive, complementary and diverse experience built up over many years across the financial services sector:

Arnold Hoevenaars, Non-Executive Chairman
Arnold is Chairman of the Internal Supervisory Committee for Pensioenfonds Zorg & Welzijn (PFZW), which had over €135 billion of assets as at the end of Q1 2013. Arnold is also a member of the Supervisory Board of the Unilever Pension Fund. Previously Arnold held the  following positions: from 2003 to 2004 Chief Financial Officer of Royal Boskalis Westminster; from 2002 to 2003 Chief Executive Officer and Chairman of Eureko B.V.; from 1992 to 2000 various roles to become Executive Chairman of Achmea.
Edmund Truell, Chief Executive Officer
Edmund has over 30 years of financial services experience including leadership positions in banking, private equity, pensions, insurance and debt investment. He trained at Bankers Trust Co in New York, following which he was appointed a Director of Hambros Bank in 1991; Chief Executive of Hambro European Ventures in 1994; led the 1998 buyout and formation of Duke Street Capital (“DSC”); and was responsible in 2000 for creating and building DSC Debt Management. He was Chairman of the British Venture Capital Association from 2001 to 2002. After selling out of DSC in March 2007, he co-founded a regulated insurance company, Pension Insurance Corporation, which now has over £9 billion in assets under management and has insured some 90,000 pension fund members. He was appointed as Chairman of the London Pension Fund Authority, with £4.8 billion of assets, inJanuary 2013. He is qualified as a Chartered Financial Analyst and is a Trustee of The Truell Charitable Foundation.
Peter Kiernan, Non-Executive Director
Peter has over 30 years’ experience in financial services and 27 years’ investment banking experience and is currently Chairman of European Investment Banking at Canaccord Genuity. Previously, Peter was Head of UK Investment Banking at Lazard from 2004 to 2006, having joined from Goldman Sachs in 2004. Before Goldman Sachs, Peter was a Managing Director at UBS Warburg. Peter qualified as a Chartered Accountant with Peat, Marwick, Mitchell & Co and read Natural Sciences (Chemistry) at Cambridge.
Danny Truell, Non-Executive Director
Danny has over 25 years’ of experience in financial services having held leadership positions in asset management, pensions and long term investment. Commencing his career at CIN and then Chief Asian Strategist for SBC Warburg in Hong Kong, Danny was formerly a Managing Director at Goldman Sachs. He is Co-founder and Chair of the Asset / Liability Committee at Pension Insurance Corporation. Danny is currently Chair and the only UK member of the World Economic Forum Long term Investment Council and has been Chief Investment Officer of the Wellcome Trust since 2006, where he has overseen some £15 billion of assets at the UK’s largest medical charity. Danny is Co-Chairman of the G20 / B20 Investment Group. He read PPE at Oxford and is a Trustee of The Truell Charitable Foundation and of DebateMate.
Michael Spencer, Non-Executive Director
Michael has been Chairman and Group Chief Executive Officer of ICAP since 1998 following the ExcoI / Intercapital merger. Over this period Michael took ICAP from start-up to FTSE 100 as a leading inter-dealer broker. Michael was Non-Executive Chairman of Numis Securities from April 2003 to May 2009 and Treasurer of the Conservative Party from 2006 until October 2010. He was named Entrepreneur of the Year at the European Business Leader Awards and Ernst & Young World Entrepreneur of the year in 2010. He read Physics at Oxford.
Philip Ashdown, Executive Director
Philip has over 30 years’ diverse experience gained within commercial banking and leverage finance, M&A advisory, restructuring and hedge fund management businesses. Highly skilled in project and risk management with substantial presentation, negotiation and transaction closing experience across diverse transactions and sectors, globally. He trained as a corporate banker at Midland Bank. He has been a Director at Hill Samuel Bank, Managing Director and Head of Leverage Finance and Sponsor Coverage at ING Barings and Fund Manager at Altima Partners LLP. Philip is an Honorary Professor at Warwick University Business School and Founding Partner of Silvermine Partners LLP. He became an Associate of Chartered Institute of Bankers (ACIB) in 1987. He has an MBA with distinction.
Jeffrey Belkin, Chief Financial Officer
Jeffrey has over 30 years’ experience in the financial services industry and was Group Finance Partner at DSC from 2001 to 2009, where he was responsible for reporting to investors and stakeholders. Jeffrey previously had responsibility for group reporting in various roles at HSBC and then at Schroders, where he was head of management reporting for the Investment Banking Group and for the consolidated Schroders plc group. Since 2009 Jeffrey has worked for Edmund Truell and Disruptive Capital LLP on all aspects of family and professional asset management. Jeffrey qualified as a Chartered Accountant with Peat, Marwick, Mitchell & Co. in 1986. Jeffrey studied Economics and History at Cambridge.
Lincoln Jopp, Chief Operating Officer
A former career soldier, Lincoln has a wealth of experience in running international operations across the globe and led the 1st Battalion Scots Guards in Afghanistan. After command he became Assistant Head of the UK Ministry of Defence’s Strategy Unit. Lincoln joins Tungsten from Truell International Permit Systems where he was CEO. In June, he stood down from his role as Non-Executive Director of AIM-listed Impellam to concentrate on his main board responsibilities at Tungsten.