Sir Geoffrey Rowland QC, who was appointed to the board in October 2016, became chairman following the retirement of Jurat David Lowe OBE who has stepped down from the board.
Susie Farnon has also been appointed as a Non-Executive Director and will join Sir Geoffrey and Jersey resident, John Henwood MBE on the board of the Channel Islands-based closed-ended investment company.
Bailiwick Investments Limited has substantial equity holdings in a number of businesses based in the Channel Islands and the Isle of Man, including SandpiperCI, Jacksons, Oatlands Village, Guernsey Recycling Group, The International Stock Exchange, SigmaRoc (owner of Ronez) and Prospero.
Sir Geoffrey served for many years on the boards of venture capital companies 3i (Guernsey) and 3i (Jersey). At the time they were owned the Bank of England and the Clearing Banks and they were, at the request of the governments of Guernsey and Jersey, major investors in a number of Channel Islands’ commercial and utility firms. He has also been chairman of The Guernsey Press Company and vice-chairman of the Guernsey Financial Services Commission as well as serving on the boards of Garenne Group and Blue Diamond before he was appointed as a Crown Officer.
"The contribution made by Jurat David Lowe, who served as chairman from the incorporation of Bailiwick Investments in 2008, has been remarkable. He has exercised sound judgement, community awareness and set the culture of the company," Sir Geoffrey said.
"Looking to the future the Bailiwick board intends to build on the culture which has been its hallmark. We intend that the company will continue to serve the communities in which it operates. It is important that we continue to provide venture capital to companies that have demonstrated entrepreneurial flair, sound business judgement and need further investment to develop in the Islands and beyond our shores.
"The board will continue to maintain awareness of the business climate, evaluate new opportunities, judge people on the basis of their track record and together with Ravenscroft provide sound business advice when it is needed. The board of Bailiwick Investments will strive to create share value and deliver six monthly dividends for Bailiwick’s shareholders, present and future, as it has done in the past."
Mrs Farnon, a Guernsey resident, is a Chartered Accountant. She was a partner of KPMG where she spent nearly two decades, served as a commissioner of the Guernsey Financial Service Commission and is currently a board member in England of the Association of Investment Companies. She is a director of a number of property companies and a non-executive director of listed property and investment funds.
Mr Henwood is a former CEO of Channel Television (ITV) Group and was appointed MBE for services to broadcasting and the community in 1998. His previous roles have included chairman of Jersey Telecom, a founder director of Jersey Finance and chairman and president of the Institute of Directors in Jersey. In 2016, he was only the second person to be given the IoD’s Lifetime Achievement Award.
"Sir Geoffrey, Susie and John are passionate and proud islanders and Channel Islanders, and bring their own invaluable skills and experiences to the board of Bailiwick," said Jon Ravenscroft, group CEO of Ravenscroft, which acts as investment manager to Bailiwick Investments.
"The fund has made a number of significant investments in companies which are an important part of life in Guernsey, Jersey and the Isle of Man in terms of their economies and employment. I am sure that under their leadership, Bailiwick Investments will continue to deliver long-term capital growth to investors."
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