Independent Advisory Board

Introduction

The role of the Advisory Board is to provide independent strategic advice to the Element Investment Managers team. The Board provides advice on and a review of our responsible investment and shareholder activism initiatives, documentation and reporting. Its role is to ensure that we align ourselves with best international and local practice with respect to Responsible Investment and company engagement.

Element Investment Managers has had an Independent Advisory Board meet formally on a regular basis since 2001 as well as ongoing interaction with various Board members where specific input was requested on our Responsible Investment initiatives. This is a further differentiator for the firm.

Members of the Independent Advisory Board

The board comprises individuals who offer experience and credibility, both locally and internationally, in their ability to assess and evaluate environmental, social, labour, empowerment, ethical, corporate governance and disclosure issues. Members are independent of Element Investment Managers and membership is in an individual capacity. Members are paid a service fee for carrying out their responsibilities. Members keep Element Investment Managers informed of involvements that may lead to potential conflicts of interest.

Kamalasen (Kam) Chetty

Mr Chetty has served as Chair of the Element Investment Managers' Advisory Board since its inception in 2001. He is currently Managing Director of HP. Mr Chetty, an economist and business graduate, was formerly Chief Executive Officer of the Cape Winelands District Municipality, Chief Financial Officer for Parliament of the Republic of South Africa, Senior Institutional Specialist with the World Bank and Financial Director with the Tygerberg Metropolitan Government.

Geoffrey Everingham

Professor Everingham is currently Professor of Accounting at University of Cape Town (since 1986).  He is the author or co-author of various books including: Generally Accepted Accounting Practice in South Africa, Corporate Governance Commentary on the South African Companies Act, Financial Accounting Author of numerous journal articles. He is a past member of the Public Accountants and Auditors Board and the Independent Regulatory Board for Auditors, past chairman of the Accounting Practices Committee and is currently member of the Accounting Principles Board. He is also a past member of the GAAP Monitoring Panel of the JSE Securities Exchange and is involved in the annual adjudication of the quality of the annual reports of the top 100 listed companies on the JSE Securities Exchange. Prof Everingham is a non-executive director of Transnet Limited, chairman of its audit committee, member of governance and risk committees, past chairman of audit committee of the City of Cape Town, Chairman of the Investment Committee of the Church of the Province of Southern Africa Pension Fund. Numerous consultations relating to financial reporting issues, including appearances as expert witness in various matters, including Leisurenet, SABreweries / Shoprite, New Clicks / Heritage Holdings. Chairman of Diocesan College (Bishops) Council.

Emily Tyler

Emily has been involved in the financial and economic implications of climate change mitigation since 2001, when she assisted the auction of carbon allowances in the first round of the UK Emissions Trading Scheme. Between then and 2004 she undertook climate change policy and strategy consulting in the UK and Europe during the early stages of the EU Emissions Trading Scheme, including renewable energy policy development and corporate climate change response. Emily then returned to South Africa to work on Clean Development Mechanism (CDM) project transactions for the NGO SouthSouthNorth, and initiated and managed projects for companies, donors and government involving the use of carbon finance for sustainable energy interventions in the southern African region. In 2007 Emily started the Climate Change Practice of Genesis Analytics, a South African economic development consultancy. The Practice focused on carbon policy and strategy issues in both the public and private sectors, and project transactions in Africa. She worked particularly in the banking and mining sectors, understanding and developing appropriate climate change response strategies for companies. Consulting independently since 2009, Emily has focused on national mitigation policy, planning and strategies in South Africa, and Low Carbon Development Strategies and international financing for mitigation activities (NAMAs, programmatic CDM and sectoral approaches) in developing countries. Energy policy, mitigation policy instruments and the interface of climate and development are key interest areas. Clients have included the South African government (Department of Environment and National Planning Commission), the Energy Research Centre of the University of Cape Town, large corporates, environmental NGOs, and energy and development think tanks. Emily lectures in climate policy and finance at local universities, and serves on a number of NGO, academic and company advisory boards.

Lulamile Xate

Mr Xate is a director of Xate Consulting - a consulting company working with government and the private sector in areas of energy and clean production. Mr Xate holds non-executive directorships with Primgro, an empowerment investment holdings company, Basani Fishing and Element Investment Managers. He is a co-owner of DARLIPP, a company that is in the process of developing South Africa's first wind farm and is a director of Wild Orchard Investments, an investment holding entity.

Ravindra (Ravi) Naidoo

Ravi Naidoo is the group executive of Research & Information at the Development Bank of Southern Africa (DBSA), based in Johannesburg. The DBSA is a statutory body with a mandate to promote economic development in southern Africa, focused on socio-economic infrastructure. Mr Naidoo oversees the research, public policy, investment project advisory, research and information functions at the DBSA. Prior to joining the DBSA in May 2008, Mr Naidoo was the Head of Economic Research and Policy Co-ordination (March 2005-April 2008) for the government's Department of Trade and Industry (DTI). At the DTI, Mr Naidoo facilitated planning and coordination activities for the Cabinet cluster of economic departments. He has been a member of various government task teams and statutory boards. In 2000, he was co-ordinator of the Cabinet-appointed Committee of Inquiry into Social Security restructuring, whose proposals to improve coverage to South Africa's poor were generally implemented by government. In 2005 he was a member of the task team that developed the Accelerated and Shared Growth Initiative of South Africa (ASGISA), which proposed a more expansionary economic programme for the country. He also served as government's convenor for the trade and industry chamber of the social dialogue forum. Before joining government, Mr Naidoo was executive director of the trade union-linked think tank National Labour and Economic Development Institute (NALEDI) from 1997-2005. Mr Naidoo has been active in many international development organisations including the United Nations Development Programme, UN Economic Commission for Africa and International Labour Organisation. He was a founder member of the Global Policy Network and the African Labour Research Network, both of which have been active participants at the World Social Forum. Mr Naidoo has a Masters degree from Harvard University and was a Fellow at Harvard's Committee on African Studies.

Peter Butler

Peter Butler is a Founder Partner and Chief Executive of Governance for Owners (GO), a UK-based independent partnership between major share owning institutions, a long term financial backer and its executives and is dedicated to adding long-term value for clients by exercising shareowners' rights. GO has offices in Europe, USA, Japan and Singapore which offer investment, engagement and governance services products reflecting its belief that local presence is essential to effective shareowner engagement. Prior to establishing GO, Peter was CEO of UK-based Hermes Focus Asset Management for six years, responsible for building the highly respected Corporate Focus and Focus Fund teams. Before joining Hermes, Peter had over 20 years global experience in a wide range of industries as a senior executive, including seven years as a director of quoted companies. Peter is an active proponent of corporate governance best practices and frequently participates in seminars and conferences worldwide.

Simon Wong (alternate to Peter Butler)

Simon Wong is an Executive Partner and Managing Director at Governance for Owners with oversight of the Stewardship Services operation. Simon has extensive experience in corporate governance and responsible share ownership, having most recently been Head of Corporate Governance at Barclays Global Investors based in London. Before joining BGI, Simon was a management consultant at McKinsey & Company, where he served companies and governments in developed and emerging markets on a broad range of governance, organisation, strategy, and financial regulatory matters. Simon is a securities lawyer by training, having worked at Linklaters & Paines and Shearman & Sterling in London, as well as serving as Principal Administrator/Counsel at the Organisation for Economic Co-operation and Development (OECD) in Paris.  Simon is also Chairman of the International Corporate Governance Network's Shareholder Responsibilities Committee, policy adviser to the OECD, and Adjunct Professor of Law at Northwestern University School of Law, where he teaches an International Corporate Governance course.

 
 

WE WERE THE FIRST SOUTH AFRICAN INVESTMENT MANAGER TO SIGN THE UNITED NATIONS PRINCIPLES FOR RESPONSIBLE INVESTMENT

WE ARE COMMITTED TO THE CODE FOR RESPONSIBLE INVESTING IN SOUTH AFRICA