Dedication and belief
Henderson is an actively managed business which depends upon the talent of its employees.
Our ambitions can only be achieved through our people’s continued focus on placing our clients at the heart of everything we do. As we move towards our 2018 goal of creating a truly global footprint, infrastructure and mind-set, our employees continue to build and foster a global outlook and mind-set, efficiently sharing local knowledge across our growing geographies.
Our business is built of committed professionals who work in an innovative and autonomous environment. Our rich diversity of individuals are driven by our guiding principles of collaboration, conviction and responsibility.
Collaboration: We believe in working together and sharing knowledge so our clients benefit from the combined force of the whole company
Conviction: We demand passion, belief and energy from all our people. We have no house style to constrain the expertise of our investment professionals
Responsibility: We know that performance, service and trust all flows from taking personal and collective responsibility always in the service of our clients’ needs.
Our reward and development policies ensure that our people’s interests remain strongly aligned with the interest of our clients and shareholders. For more information on our remuneration policies, please see our Annual Report and Accounts.
Trainees and Investment 2020
We believe in building our teams by identifying the most talented and motivated people. This includes attracting and developing emerging young talent. Since 2010, we have operated a Trainee Scheme which identifies young individuals with high potential, offering them a 12 month position to develop their skills via a combination of formal and on-the-job training at Henderson.
The success of our scheme resulted in the launch of Investment 2020, a collaborative initiative with 11 other asset management businesses in the City of London, initiated by our Chief Executive, Andrew Formica. Investment 2020 provides trainee programmes for young adults looking to join the fund management industry. The shared goal is to create 2,020 new entry level opportunities by the year 2020.
It is Andrew and the participating firms’ strong belief that the best people are not always drawn from the same backgrounds; rather, our industry succeeds and grows through the rich diversity of the people who work within it. Investment 2020 aims to bring firms together to tackle youth unemployment and at the same time to employ individuals who will help sustain and improve the services we provide to our clients.
An experienced team
The Board comprises a Non-Executive Chairman, two Executive Directors and six other Non-Executive Directors. There is a division of responsibility between the Chairman, who is responsible for leading the Board and ensuring its effectiveness, and the Chief Executive who is responsible to the Board for the overall management and performance of the Group.
Biographical details of the Directors are set out below.
Chairman since May 2013 and Non-Executive Director since February 2013. Chairman of the Board and of the Nomination Committee.
Mr Gillingwater was Dean of Cass Business School until 2013. Prior to this he spent 10 years at Kleinwort Benson, before moving to BZW and, in due course, becoming joint Head of Corporate Finance and then latterly Chairman of European Investment Banking at Credit Suisse First Boston. He was Chief Executive and later Chairman of the Shareholder Executive, Chairman of CDC Group plc and has also been a Non-Executive Director of P&O, Debenhams, Tomkins, Qinetiq Group and Kidde. Mr Gillingwater resigned as Senior Independent Director of Hiscox Ltd on 20 May 2015 and as a Non-Executive Director of Wm Morrison Supermarkets Plc with effect from 4 June 2015. Mr Gillingwater is Chairman of SSE plc and Senior Independent Director of Helical Bar plc.
BA (Econ), MA (Econ), MBA, FIAA, FIA – Chief Executive. Executive Director since November 2008.
Andrew Formica has been with the firm and in the fund management industry since 1993. He has held various senior roles with the Henderson Group and he has been a member of the Executive Committee since 2004. Prior to being appointed Chief Executive of the Company, he was Joint Managing Director of the Listed Assets business (from September 2006) and was Head of Equities (from September 2004). In the early part of his career, he was an equity manager and analyst for the Group. Mr Formica is a Senior Independent Director of the Board of The Investment Association and a Non-Executive Director of Hammerson plc since November 2015.
Chief Financial Officer. Executive Director since June 2013.
Roger Thompson joined Henderson Group from J.P. Morgan Asset Management where most recently he was Global Chief Operating Officer and was previously Head of UK and, prior to that, International CFO. In his 19 year career at J.P. Morgan, Mr Thompson held a broad range of roles and worked internationally, spending time in Tokyo, Singapore and Hong Kong. He has wide-ranging asset management experience, both in the UK and internationally. Mr Thompson is a Steering committee member of ICI Global.
Global Head of Distribution. Executive Director since May 2016.
Phil Wagstaff has over 25 years’ asset management experience. He joined Henderson in January 2012 as Global Head of Distribution and is a member of the Executive Committee. He is responsible for all distribution businesses including retail, institutional and hedge funds. Prior to joining Henderson Group, Mr Wagstaff was Global Head of Distribution at Gartmore which was acquired by Henderson Group in 2011. He previously held senior distribution roles at New Star Asset Management and M and G Investments.
Independent Non-Executive Director since September 2012. Chair of the Board Risk Committee and a member of the Audit, Nomination and Remuneration Committees.
Ms Arkle has been in the financial industry for over 33 years. She joined Allied Dunbar Asset Management in 1983 which became Threadneedle in 1994. She was Vice Chairman of Threadneedle until the end of July 2012 and was Chief Investment Officer until December 2010, a role she held for 10 years. She was instrumental in establishing Threadneedle’s investment process and recruiting a number of the firm’s senior fund managers. Previously, Ms Arkle worked at the Far Eastern stockbroker WI Carr (Overseas) Limited and was an advisor to the South Yorkshire Pension Fund. Ms Arkle is currently a Non-Executive Director of Foreign & Colonial Investment Trust plc and J.P. Morgan Emerging Markets Investment Trust plc and is a member of the Newnham College, Cambridge Investment Committee.
BSc (Hons), ACA – Independent Non-Executive Director since October 2015 and a member of the Board Risk, Audit and Nomination Committees.
Ms Desai has over 25 years of international advisory and investment banking experience, primarily gained in the Asia-Pacific region. Until 2013, Ms Desai was Head of Macquarie Capital Asia, the investment banking division of Macquarie Group Limited, headquartered in Australia. Prior to this, she was Head of the Asia-Pacific Mergers & Acquisitions Group and a Managing Director from 2001 in the investment banking division of Bank of America Merrill Lynch based in Hong Kong, having joined that firm in 1998. Earlier, Ms Desai worked in the corporate finance divisions of Barclays de Zoete Wedd in London and Hong Kong and at J. Henry Schroder Wagg in London, having started her career in the financial services division of Coopers & Lybrand Consulting in London. She was a member of the Takeovers and Mergers Panel of the Securities and Futures Commission in Hong Kong from 2007 to 2014. She is currently a Non-Executive Director of Canaccord Genuity Group Inc., headquartered in Canada. Ms Desai has a BSc with Honours in Economics from the London School of Economics and Political Science and qualified as a Chartered Accountant (ACA) with Coopers & Lybrand (now PricewaterhouseCoopers) in London in 1991.
BS (Business Administration) – Independent Non-Executive Director since September 2011. Member of the Board Risk, Nomination and Remuneration Committees.
Mr Dolan has been in the financial services industry for 36 years and has extensive experience in M&A transactions, both in Europe and the US. Mr Dolan has held various executive positions, including as Chief Executive of the Asset Management Division of Bank of Ireland Group and Chief Executive of Edmond de Rothschild Asset Management. He spent 10 years with the AXA Group where he was Chief Executive Officer of AXA Investment Managers Paris, and Global Deputy Chief Executive Officer of AXA Investment Management. He was Chief Executive of La Fayette Investment Management in London from 2006 until 2009. Mr Dolan was a Director of Meeschaert Gestion Privée until 2015, is the founding partner of Anafin LLC, and a senior advisor to One Peak Partners.
MA (Cantab), MSc – Independent Non-Executive Director since November 2008. Senior Independent Director since January 2010. Chairman of the Remuneration Committee and a member of the Audit and Nomination Committees.
Mr How has extensive business experience. He was Chief Executive of Majestic Wine plc from 1989 until August 2008 and was formerly Managing Director of Bejam Group plc. He was Chairman of Downing Income VCT 4 plc (formerly Framlington AIM VCT plc) until December 2013, Deputy Chairman of the Peabody Trust and Non-Executive Director of Peabody Capital plc until February 2014. Mr How is Chairman of both Woburn Enterprises Limited and Roys (Wroxham) Ltd. He is also Non-Executive Director of Dixons Carphone plc and Senior Independent Director of the Norfolk and Norwich University Hospitals NHS Foundation Trust.
MA (Cantab), FCA – Independent Non-Executive Director since July 2009. Chairman of the Audit Committee and Conflicts of Interest Committee, and a member of the Nomination and Board Risk Committees.
Mr Jeens has extensive experience of financial services, initially as an audit partner in Touche Ross & Co, and subsequently as Finance Director of Kleinwort Benson Group plc and Woolwich plc. His previous Non-Executive Director appointments include the Chairman of nCipher plc and the Deputy Chairman of Hepworth plc. Mr Jeens was a Non-Executive Director of The Royal London Mutual Insurance Society Limited from 2003 until May 2012. He resigned as a Non-Executive Director of TR European Growth Trust plc in June 2014. Mr Jeens is Non-Executive Director of J.P. Morgan Russian Securities plc and Chairman of Allianz Technology Trust (previously RCM Technology Trust plc).
Independent Non-Executive Director since January 2014 and a member of the Board Risk, Nomination and Remuneration Committees.
Ms Seymour-Jackson has over 20 years’ experience in retail financial services. She has held various senior marketing and distribution roles in Norwich Union Insurance, General Accident Insurance, CGU plc and Aviva. She was Chief Executive Officer of RAC Motoring Services Limited from 2010 until 2012 and led the sale to Carlyle. She joined Aegon UK in May 2012 and was appointed Managing Director of the Workplace Solutions Division in December 2012. Ms Seymour-Jackson is also a Non-Executive Director of Rentokil Initial plc and esure Group plc.
The Executive Committee (“ExCo”) meets once a month and includes representatives from corporate management and our international offices. The Committee is actively involved in the debate and delivery of our strategy. To ensure we can take decisions quickly where appropriate, our Chief Executive, Andrew Formica, meets once a week with a smaller ExCo group.
Biographical details of the ExCo are set out below.
BA (Econ), MA (Econ), MBA, FIAA, FIA – Chief Executive. Executive Director since November 2008.
Andrew Formica has been with the firm and in the fund management industry since 1993. He has held various senior roles with the Henderson Group and he has been a member of the Executive Committee since 2004. Prior to being appointed Chief Executive of the Company, he was Joint Managing Director of the Listed Assets business (from September 2006) and was Head of Equities (from September 2004). In the early part of his career, he was an equity manager and analyst for the Henderson Group. Mr Formica is a member of the Board of The Investment Association and a Non-Executive Director of Hammerson plc.
Chief Financial Officer. Executive Director since June 2013.
Roger Thompson joined Henderson Group from J.P. Morgan Asset Management where most recently he was Global Chief Operating Officer and was previously Head of UK and, prior to that, International CFO. In his 19 year career at J.P. Morgan, Mr Thompson has held a broad range of roles and worked internationally, spending time in Tokyo, Singapore and Hong Kong. He has wide-ranging asset management experience, both in the UK and internationally. Mr Thompson is a Steering committee member of ICI Global.
Global Head of Distribution
Phil Wagstaff has over 25 years’ asset management experience. He joined Henderson in January 2012 as Global Head of Distribution and is a member of the Executive Committee. He is responsible for all distribution businesses including retail, institutional and hedge funds. Prior to joining Henderson Group, Phil was Global Head of Distribution at Gartmore which was acquired by Henderson Group in 2011. He previously held senior distribution roles at New Star Asset Management and M&G Investments.
General Counsel and Company Secretary
Jacqui Irvine was appointed as General Counsel in 2011 and was previously Director of Legal (from 2009) and joined Henderson in 1996. Jacqui is a member of the Executive Committee, provides Board support and advice, and has played a leading role in corporate projects, including M&A. She has advised Henderson across all asset classes, including Property and Private Equity as well has having significant experience in funds, trading and outsource arrangements. Jacqui was appointed Company Secretary of Henderson Group in December 2012 and is responsible for the global legal and company secretarial functions.
Chief Risk Officer
Chris Chaloner joined Henderson in 2013 as Deputy Chief Risk Officer moving to the role of Chief Risk Officer in 2014. After qualifying as a Chartered Accountant in 1982 he pursued a career in the energy and financial services sectors with senior roles in finance, strategy, business planning and development. Before joining Henderson, he was Head of Group Risk at Man Group for ten years.
Head of Fixed Income
Phillip Apel joined Henderson in 2005. He was appointed Head of Fixed Income in November 2013 at which time he joined the Executive Committee. As Head of Fixed Income, he is responsible for all aspects of the Group’s global fixed income investment activities. Prior to this he was Head of Diversified Fixed Income and Rates at Henderson and held a number of roles including Head of UK Fixed Income and Global Sovereign Strategy at UBS Global Asset Management.
Head of Equities
Graham Kitchen joined Henderson in 2005. He is the Head of Equities and joined the Executive Committee in January 2013. Prior to this, he was Head of UK Equities at Henderson and Threadneedle Investments following thirteen years at INVESCO Asset Management as a UK Fund Manager and Co-Head of Investment.
Executive Chairman, Asia Pacific
Rob Adams has more than 25 years experience in fund management businesses, both in Australia and the UK. Prior to joining Henderson, he was Chief Executive Officer, Challenger Funds Management, the fund management arm of Challenger Limited, an ASX 100 company. Prior to this, Rob was the inaugural Chief Executive of First State Investments UK, having created that firm through the merger of Stewart Ivory and Colonial First State Investments (UK) in 2000. Before that, he was General Manager, Distribution and Marketing, for Colonial First State Investments Australia between 1992 and 2000.
Managing Director North America
Jim O’Brien joined Henderson in 2001. He has been Managing Director in North America since 2008. Jim is responsible for all aspects of North America’s business. Jim has over 20 years’ experience in financial services and was the Director of Corporate Services for North America from 2001-2008. Prior to joining Henderson, he held senior management positions at Kennedy Wilson, Heitman and JMB.