Directors

A. Davison – Non-Executive Chairman

Andrew Davison, a Chartered Accountant, joined County Bank Limited in 1972 and by 1984 had become Managing Director of NatWest Ventures. In 1987 he became Chairman and CEO of Business Mortgages Bank which was sold in 1991. He subsequently joined the Boards of a number of listed and unlisted companies.

B. M. Olliff – Chief Executive Officer

Barry Olliff 's career has spanned over 40 years within the investment trust (closed-end fund) sector. He began his career in 1964 with Denny Brothers, ultimately Pinchin Denny, as a market maker in the sector. In 1979 he moved to Laing & Cruickshank as a member of their investment trust department, and became a director in 1984. In 1987, he established Olliff & Partners, the stockbroker business from which City of London was founded in the early 1990's.

D. F. Allison – Finance Director

Doug Allison qualified as a Chartered Accountant with Ernst & Young in 1980, and has worked in the financial services sector since 1984, joining City of London in 1997. He is also an Associate of the Chartered Institute of Bankers.

C. M. Yuste – Business Development Director

Carlos Yuste joined the firm in 2000. From 1994 to 1998 he worked as a Project Officer at the International Development Research Centre in Ottawa, which specializes in emerging markets research. He holds an MBA (Finance) from the Schulich School of Business, York University, an MA in Political Economy from Carleton University, and a Bachelor of Social Sciences from the University of Ottawa.

T. W. Griffith – Chief Operating Officer

Prior to joining City of London Group in 2000, Thomas Griffith held various positions in the institutional client division of The Vanguard Group including roles as both a Client Relationship Manager and a Marketing Executive. In 1986 he obtained a bachelor's degree in Corporate Finance and Investment Management from the University of Alabama.

D. Cardale – Senior Independent Non-Executive Director

David Cardale is the co-founder and Chairman of global3digital (formerly Global Investor Relations). He has worked extensively in both Corporate Finance and Private Equity. He has advised a number of fund management groups including Gartmore, Ivory & Sime and NIM, and ran the European operations of NatWest Equity Partners. He has been a director of two London listed Investment Trusts. David Cardale holds an MBA from INSEAD.

Dr. A.S. Bufferd, Independent Non-Executive Director

Allan Bufferd is Treasurer Emeritus of the Massachusetts Institute of Technology ("MIT") where he served for over 30 years prior to his retirement in 2006. At MIT, he served as an ex-officio member of the governing board and its executive committee and supervised the formulation and implementation of investment policy for US$12 billion of endowment and retirement fund assets. He is a director of Och-Ziff Capital Management Group LLC, (NYSE). In addition, he serves as a director of several private companies and investment funds covering diverse asset classes. He is also director/trustee of several Non-Profit Organisations, primarily focussed around healthcare.

Rian Dartnell – Independent Non-Executive Director

Rian Dartnell is Chief Investment Officer for Granite Associates and is a trustee of, or adviser to, a number of US Foundation and Endowment committees. His past experience includes senior roles at Bankers Trust, where he focussed on Africa, Eastern Europe and the Middle East, and at Global Asset Management, where he was a fund manager responsible for international funds with an emphasis on Emerging Markets and Asia, initially based in London and subsequently in Brazil. Rian holds a BSc (Econ) and a MSc (Econ), both from the London School of Economics and Political Science.

Lynn Ruddick – Independent Non-Executive Director

Lynn Ruddick is a Fellow of the Chartered Association of Certified Accountants and a member of the Securities Institute. She is Non-executive Chairman of Fidelity Special Values plc and British Assets Trust plc, a Non-executive director and chairman of the Audit Committee of Standard Life UK Smaller Companies Trust plc and of BlackRock Frontiers Investment Trust plc, a member of the Investment Committee of the Pearson Group Pension Plan and a trustee of the Scottish & Newcastle Pension Plan. She is also a member of the Investment Committee of Western Provident Association and chairman of their Pension Fund Trustee Board. Lynn worked for many years as an investment manager in both Edinburgh and London and is a former chairman of the Investment Committee of the National Association of Pension Funds.Before retiring from Merrill Lynch Investment Managers in 2004, she headed their investment trust business unit.