Meet the Board

The Merchants Trust board is particularly experienced as its directors also sit on the boards of a number of large companies. So as well as providing shareholders with the reassurance of a diligent environment of checks and balances, they also provide the Trust with invaluable knowledge and economic insight.

  • Simon Fraser  

    Simon Fraser joined the Board in August 2009. He is Chairman of Foreign & Colonial Investment Trust PLC and Chairman of The Investor Forum and is a non-executive director Ashmore Group plc. Until 15 May 2017, he was also a non-executive director of Fidelity European Values PLC. He spent his career at Fidelity International Limited, where he held a number of positions, including Chief Investment Officer from 1999-2005, President of Fidelity International’s European and UK Institutional business and latterly President of the Investment Solutions Group. He stepped down from executive responsibilities at the end of 2008.

  • Timon Drakesmith  
    Non-executive Director

    Chairman of the Audit Committee

    Timon joined the Board in November 2016. He is an executive director and Chief Financial Officer of Hammerson plc. He is also Managing Director of Hammerson’s Premium Outlets business and in that capacity is a non-executive director of Value Retail PLC and is Chairman of VIA Outlets advisory committee. He was formerly Finance Director of Great Portland Estates plc and Group Director of Financial Operations of Novar plc. Timon is a Chartered Accountant and has held previous financial roles at Credit Suisse, Barclays and Deloitte Haskins and Sells.

  • Mary Ann Sieghart  
    Non-executive Director

    Mary Ann Sieghart joined the board in November 2014. She is Chair of the Social Market Foundation and a non-executive director and Senior Independent Director of The Henderson Smaller Companies Investment Trust PLC and a director of DLN Digital Ltd. Mary Ann sits on the Council of Tate Modern and the Content Board of Ofcom and she is a trustee of the Kennedy Memorial Trust and holds other voluntary posts. Mary Ann is a political journalist and broadcaster and was formerly Assistant Editor of The Times, a Lex Columnist at the Financial Times and City Editor of Today.

  • Sybella Stanley  
    Non-executive Director

    Senior Independent Director

    Sybella Stanley joined the board in November 2014. She is Director of Corporate Finance at RELX Group Plc (formerly Reed Elsevier Group plc) where she manages RELX Group’s global mergers and acquisitions programmes, and is non-executive director of Tate & Lyle PLC. She is also a Member of the Department of Business, Energy and Industrial Strategy’s Industrial Development Advisory Board. Before joining RELX Group in 1997, Sybella was a member of the M&A advisory teams at, successively, Citigroup and Barings. She is a member of the Somerville College Oxford Development Board. Sybella is a barrister.

  • Paul Yates  
    Non-executive Director

    Paul Yates joined the Board in March 2011. He is Chairman of the Advisory Board of 33 St James’s Limited and is a non-executive director of Aberdeen Diversified Income Growth Trust plc and Fidelity European Values PLC. He was previously a non-executive director of Aberdeen UK Tracker Trust plc. He has had a long career in investment management beginning at Samuel Montagu & Co in 1980. He joined Phillips and Drew in 1985 – the year that it was acquired by UBS. He held a number of positions at UBS, covering management, portfolio management, pensions, strategy and client service. He was CEO of UBS Global Asset Management (UK) Ltd between 2001 and 2005. After undertaking a number of global roles at UBS he retired in 2007.


Investment Manager Image

On the occasion of The Merchants Trust’s 125th anniversary, chairman Simon Fraser considers the Trust’s history and introduces his fellow board members.