Board of Directors/Consultants

Philip Lambert, Chairman and Independent Non-Executive Director

Throughout his career Philip has been extensively involved in the European pension industry in Europe. He was a member of the Pension Managers Advisory Committee to the Board of Directors of the New York Stock Exchange. Philip was a member of the Investment Committee of the National Association of Pension Funds in the UK. He was a member of the Advisory Committee to the ABN AMRO Investment Funds. In the past Philip has taken on several external appointments. He was chairman of the Dutch National Association of Company Pension Funds (OPF), chairman of the Dutch Real Estate Board (ROZ) and chairman of the Investment Committee of ABP, at the time the second largest pension fund in the world, his tenure as a member and later as the chair of this committee (ABP) has spanned 9 years. During the period 1991 to 1994 he was chairman of the European Federation for Retirement Provision (EFRP).

Philip started his career with Unilever in 1975. In 1983 he was appointed Managing Director of the Dutch Unilever Pension Fund. In 1993 he was appointed Pension Officer and Head of Corporate Pensions Division of Unilever with responsibility for pension schemes and pension fund investments worldwide. Philip took a civil law degree at Leiden University in 1970.

Terence Mahony, Non-Executive Director

Terence is a recognised leader in emerging markets investing, with an extensive global financial career spanning over 40 years. Mr Mahony first worked with the Bank of London and South America in London and Zurich, followed by broking positions at White Weld and Paine Webber. Mr Mahony’s fund management experience began in Boston with the Baring Puma Latin American fund which he launched in 1991 for Barings as Director and CIO for Latin America. After Barings, he returned to Hong Kong in 1993 as the first CIO of HSBC’s new Global Emerging Markets strategy. At HSBC he launched HSBC’s first Global Emerging Markets Fund. From 1996 to 1999 he was Managing Director for Emerging Markets Equities, CIO of Global Emerging Markets Equity strategy and President of Trust Company of the West (TCW) Asia Limited. From 2000 to 2008, he was a director and member of the investment committee of Investment Manager Selection (IMS) Limited in London. In 2008, as a member of the Board, he was asked to fill in as interim CIO for Indochina Capital. Mr Mahony is Vice-Chairman of VinaCapital, one of the largest asset management company in Vietnam with 3 closed ended funds listed on AIM. In addition he serves on the boards of various investment funds as a non-executive director, namely: Pacific Assets Trust plc, LIM Asia Special Situations Fund, Polunin Capital EM Active Fund. Mr Mahony is resident in Hong Kong.

Philip Scales, Independent Non-Executive Director and Company Secretary

Philip Scales is Managing Director of FIM Capital Limited (formerly IOMA Fund and Investment Management Limited). Prior to this, Philip was the Managing Director of Northern Trust International Fund Administration Services (Isle of Man) Limited. Philip has over 30 years’ experience of working offshore, primarily in corporate and mutual fund administration. A director of a number of listed companies, Philip is a Fellow of the Institute of Chartered Secretaries and Administrators.

Richard Horlick, Consultant

Richard joined the Board of Tau on launch in 2007 and stood down on 1 January 2014. However he remains as a Consultant and will work closely with the Board and Investment Adviser.

Richard was a founding partner of Spencer House Capital Management, LLP. Prior to this, he was a main board director of Schroders plc where he was head of investments and a member of the General Management Committee. From 1994 to 2002, Richard held a number of positions at Fidelity. He was president and CEO of Fidelity Management Trust Co the institutional investment arm of Fidelity in the US and also the Trust Bank for the Fidelity Mutual funds. Richard was previously responsible for the investment and development of Fidelity’s institutional business outside the US, and was a member of the operating committee of Fidelity International. Between 1984 and 1994, he was a director and portfolio manager at Newton Investment Management. Prior to this, he was a corporate finance executive specialising in M&A at Samuel Montagu & Co. Richard graduated from Cambridge University with a Masters degree in Modern History.