Board of directors

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Woodford Patient Capital Trust plc

Home > Funds > Woodford Patient Capital Trust plc > Board of directors

Like all listed companies, investment trusts have an independent board of directors, which provides a critical governance function and is independent of the appointed investment manager. This separation of responsibilities can act in shareholders’ best interests as the fund manager is more publicly ‘held to account’. The board constantly seeks to ensure that the investment trust is managed in the best interests of its shareholders by scrutinising the activities of the investment manager, challenging decisions made and taking whatever action necessary to ensure that the interests of shareholders are protected at all times.

The board of directors for the Patient Capital Trust comprises the following highly-experienced individuals, with a broad range of complementary skills and expertise.

Susan Searle (Chair)

Susan served as the Chief Executive of Imperial Innovations from January 2002 to July 2013, where she led funding rounds totaling circa £250 million and during her tenure, Imperial Innovations invested £121 million in a portfolio of healthcare, engineering and software businesses linked to major universities. Previously she worked at Montech in Australia (science commercialisation), Signet, Bank of Nova Scotia, and Shell Chemicals in a variety of business development and commercial roles. Susan, who has an MA in Chemistry from Oxford University, also serves in a number of organisations as non-executive director.

Steven Harris

Steven Harris is Chief Executive and co-founder of Circassia Pharmaceuticals plc. He is a bioscience entrepreneur with extensive experience of founding and leading specialty pharmaceutical companies. Prior to co-founding Circassia in 2006, he was a founding member of the team that grew Zeneus Pharma Ltd into a leading specialty pharmaceuticals company. Prior to Zeneus, he spent seven years at PowderJect Pharmaceuticals plc, where he was a key member of the team that grew the private biotechnology organisation into an integrated, profitable public company, which became the world’s fifth largest vaccines business before being acquired by Chiron Corporation in 2003. Steven holds a BSc from Southampton University and is a Chartered Accountant, and a member of the Institute of Chartered Accountants of England and Wales.

Scott Brown

Scott Brown is Chief Executive of Nexeon, an Imperial College spin-out focused on developing silicon anode technology for next generation Li-ion battery technology. During his tenure, he has led the change in the company’s strategy to successfully move from an IP licensing business model to one of material production and supply. Previously, Scott had been Executive Vice President at Cambridge Display Technology (CDT), responsible for commercial and IP activities of the company. Scott holds a PhD in Chemistry and is a Fellow of the Royal Society of Chemistry.

Dame Pamela Louise Makin

Louise Makin joined BTG, a growing international specialist healthcare company in the FTSE 250, as Chief Executive in October 2004. During her time with the company, Louise has overseen a strategic business review leading to a focus on life sciences, expansion into the US and a series of acquisitions. Prior to joining BTG, Louise was with Baxter Healthcare – initially as Vice President, Strategy & Business Development Europe and then as President, Biopharmaceuticals Europe, where she was responsible for Europe, Africa and the Middle East. Louise’s previous roles included Director of Global Ceramics at English China Clay and a variety of positions at ICI between 1985 and 1998. Louise is a non-executive director of Intertek Group, a trustee of the Outward Bound Trust, and an Honorary Fellow of St. John’s College, Cambridge.

Alan Hodson

As a Non-Executive Director, Alan brings extensive and invaluable expertise and knowledge to the role, with over 30 years’ financial services experience.

Alan graduated from St Peter’s College, University of Oxford in 1982 with an MA in Mathematics. He joined UBS AG (previously Rowe & Pitman, SG Warburg and SBC) in 1984 and spent the next 20 years progressing through a number of management roles, to be appointed Global Head of Equities and member of UBS Investment Bank and Executive in 2001. During this period of his career, Alan also held a number of non-executive and advisory positions with a variety of companies, charities and government bodies.

Alongside his role at Woodford Patient Capital Trust, Alan also currently holds non-executive positions with Harbourvest Global Private Equity, JP Morgan Elect investment Trust, the Olivia Hodson Cancer Fund, The Roundhouse Trust and Triodos New Horizons Ltd.

Carolan Dobson

Carolan brings the experience, knowledge and perspective of over 30 years’ investment experience – including a diverse portfolio of investment trust roles – to her role as Non-Executive Director.

Carolan graduated from St. Andrews University with a BSc in Psychology. She joined Murray Johnstone Ltd in 1981 as Head of UK Smaller Company Desk and spent the next 12 years progressing through a number of fund management and Head of Desk roles and directorships. In 1993 Carolan joined Abbey National Asset Management as Fund Manager and Head of UK and again held a number of different positions before being appointed Head of Investment Floor from 2002-2004. During this period, Carolan also held a number of non-executive and advisory positions with a variety of companies, industry bodies, charities and government bodies.

Alongside her role at Woodford Patient Capital Trust, Carolan also holds several other directorships including European Smaller Companies Trust plc, Aberdeen Smaller Companies High Income Trust plc, Brunner Investment Trust plc, Schroder UK Growth plc and Nest plc.

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