MGM Advantage - Non Executive Directors

Sir William Proby

Sir William was elected as a Non Executive Director of the Society in July 2006. He became Chairman in December 2007. He has a strong background in the city having started his career as a Chartered Accountant with Price Waterhouse & Co., moving on to Morgan Grenfell & Co. where he specialised in corporate tax planning and mergers and acquisitions.

During the 1980’s, Sir William became Chief Executive of MWP Ltd, an associate company of Morgan Grenfell. He has a long association and deep interest in the nation’s heritage having served as the President of the Historic Houses Association and as Chairman of The National Trust from 2003 to 2008. He was previously a member of The National Trust Finance Committee.

Sir William is a member of the Advisory Council of Tate Britain. Although Sir William is not an official member of the Audit, Investment and With-Profits Committees he regularly attends their meetings.

Laurie Edmans, CBE

Laurie Edmans has spent a distinguished career in financial services and he joined MGM Assurance as a non-executive Director in March 2008. He began his career with Cigna Group/Crusader Insurance, where he worked in administration, sales and general management before joining National Provident Institution in 1989, eventually becoming deputy chief executive. He then moved to Aegon UK, where he was director of corporate development until leaving to follow a ‘portfolio’ career in June 2006.

Laurie is a board member of the Pensions Regulator and a former member of the Association of British Insurers Life Insurance Management Council. His non-executive appointments include deputy chairman of CPA Holdings Ltd, Chairman of the Safe Home Income Plans group (SHIP), which represents 90 per cent of the UK’s equity release sector, and b-different, a leading financial services market research company. Laurie is Treasurer of the Family and Parenting Institute, trustee of an occupational pension scheme and of a school for autistic children. He was awarded the CBE for services to pensions reform in the 2006 New Year’s Honours List. Laurie is a special adviser to Otto Thoresen in his review of generic financial advice for HM Treasury.

Moira K Siddons

Moira, is a Fellow of the Institute of Chartered Accountants in England & Wales. She was elected a Non-Executive Director of the Society in July 2003.

Moira qualified as a chartered accountant in 1976 while with provincial firm Simon Ing & Co. In 1981 she joined the New Zealand branch of large accountancy practice Coopers & Lybrand (now PricewaterhouseCoopers) and moved back to the UK with the firm in 1983. She was appointed as a Partner in 1989 and remained with the firm until retirement in June 2002.

During her time with Coopers & Lybrand she developed an expertise on the subjects of Boardroom effectiveness, corporate governance responsibilities and remuneration strategies, and worked with several mutuals and household name assurers in this area of operation. Moira is currently Chair of the Society’s Audit Committee.

Michael Arnold

Mike was appointed as a Non Executive Director in May 2004.

Mike is a Principal at Milliman in London. He joined the firm (formerly Hymans Robertson) in 1971.

Over the last 10 years, Mike has focused on providing consulting services to life assurance companies in the UK. Since 1995, Mike has developed a reputation for acting as an independent actuary (IA) for demutualisations/reconstructions of life companies and/or life funds. Mike is a Fellow of the Institute of Actuaries.

Mike’s past appointments include: Member of Council, Institute of Actuaries (1987-1993 and 1995-2001), Chairman of the International Association of Consulting Actuaries (1994-96), Vice President, Institute of Actuaries (1997-99), Chairman of the Association of Consulting Actuaries (2000–2002).

Angela Burns

Angela Burns was appointed as a Non Executive Director in December 2008.
Angela is the founding Director of Aktiva Ltd, a leading asset gathering, consultancy and governance practice, established in February 2005, and is a senior strategic adviser to UK asset managers and insurers, working with a range of specialist funds. She is a trustee of two Common Investment Funds operated by Bank Sarasin and is an approved Director for UCITS and Qualifying Investor Funds domiciled in Ireland.

Previously, Angela Burns was a partner at Europa Partners Ltd, Head of Net Funds at Standard Life Investments, and a Director of Nikko Global Asset Management and Delmore Asset Management. She was also a trustee for the not-for-profit organisation, Langley House Trust, for ten years, chairing its Audit Committee for three years.

The Board considers that, as a very experienced fund manager, Angela will bring the technical knowledge and understanding required to ensure that the Society’s Best of Breed fund portfolio fully meets the respective needs of existing and future customers.

Given her extensive fund management knowledge, and her experience of chairing committees, it is proposed that she will chair the Society’s Investment Committee following the retirement of J Charles Woodward at the end of 2008.