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The Board has overall responsibility for UIL′s activities and the determination of its investment policy and strategy. UIL′s investment portfolio is jointly managed by ICM Investment Management Limited ("ICMIM") and by ICM Limited, who are responsible for implementing the policies laid down by the Board. ICMIM is also UIL’s Alternative Investment Fund Manager and secretary. The Directors of UIL, who are all non-executive, are:

Mr Peter Burrows, appointed a Director in September 2011 and Chairman in November 2015, has many years’ experience as a stockbroker and founded his own independent specialist private client firm, Burrows Limited, in 1986. Mr Burrows was previously the chairman of Garratt’s Limited, ASC Limited and Rabbit Photo Holdings Ltd and a director of a number of other listed and unlisted companies. Mr Burrows was made an officer in the Order of Australia ("AO") for his services to medical research, tertiary education and finance.

Ms Alison Hill, appointed a Director in November 2015, is an executive director and chief executive officer of The Argus Group in Bermuda, which provides insurance, retirement and financial services. Ms Hill has over twenty five years’ experience in global corporations in the financial services sector. Ms Hill is a trustee and a member of committees of a number of non-corporate organisations in Bermuda. Ms Hill is a Fellow of the Chartered Institute of Management Accountants and a Chartered Global Management Accountant.

Mr Warren McLeland, appointed in September 2013, was formerly a stockbroker and investment banker and is now a non-executive director of Resimac Group Limited, a non-bank lending company listed on the Australian Stock Exchange. In addition, he acts as an adviser in funds management and business strategy to companies operating in the Asia Pacific region. He is chairman of Somers Limited and an experienced non-executive director.

Mr Christopher Samuel, appointed a Director in November 2015, was chief executive of Ignis Asset Management until mid-2014, when it was taken over by Standard Life and has worked in financial services throughout his career with over twenty years of Board level experience in the investment management sector. He is currently chairman of Defaqto and Blackrock Throgmorton Trust plc as well as a non-executive director of Alliance Trust PLC, JP Morgan Japanese Investment Trust plc and Sarasin LLP. Mr Samuel is a chartered accountant.  

Mr David Shillson, appointed a Director in November 2015, is an experienced corporate and commercial lawyer and a senior partner of Kensington Swan, a New Zealand law firm. He has many years of experience acting for a mix of non-government and central and local government clients, particularly in acquisitions and investment structuring; advising on transactional and governance matters across the utilities (ports, airports), technology, energy, transport (rail and roads) and finance sectors. Mr Shillson is a member of the New Zealand Law Society and the New Zealand Institute of Directors.

Mr Eric Stobart, appointed in May 2007, has spent most of his career in merchant and commercial banking, latterly as director of public policy and regulation for what is now Lloyds Banking Group. He is a non-executive chairman of Capita Managing Agency Limited and a member of the audit and risk committee of London Business School. He is also a trustee of the Anglian Water Group Pension Schemes, the Dixons Retail Pension Scheme, Lloyd’s Superannuation Fund and the Royal Hospital for Neuro-Disability Pension Scheme. Mr Stobart is a chartered accountant with an MBA from London Business School.

*Independent Director and member of the Audit Committee and Management Engagement Committee