Director Talk: Simon Cordery

How would you explain your role to somebody who was new to investment trusts?

We are the guardians of shareholders’ interests; we are there to ensure the portfolio is managed within the terms of the mandate, and to ensure that any changes to the company are appropriate and are in investors’ best interests.

What’s the number one skill you bring to the board?

For me it is having a good understanding of our shareholder base and the evolution of the share register over time. Being able to have a sensible and constructive conversation with our manager’s marketing department and the sales team at our broker is very helpful to the board.

What is the proudest moment of your career?

In my executive career I have to say it was being part of the team that secured the independence of one of our property trusts that was subject to a bid. Working with the board, advisers and most importantly, shareholders, was a fantastic experience.

As a NED, it has to be more than tripling the issued share capital of Polar Capital Global Financials during 2021.

What’s the most challenging part of your job as a trust director?  

This is a long-term game, there are plenty of times when short-term issues come up and it is easy to react or be bounced into decision making. Learning not to be swayed by short-term noise and to keep focussed on the long-term objectives is not easy to do; in my opinion it’s a key part of what the board are there for.

What advice would you offer to new directors?

Ensure you fully understand what the N in NED means. Sometimes it can be hard to let go of the day-to-day, hands-on activities that the board have outsourced. There are plenty of things that NEDs have to do to ensure the smooth operation of the company, focus on those and don’t try and take everything else on too!

Away from work

What’s your number one desert island disc?

Music is massively important to me, it’s so hard to pick just one track, there is so much fantastic stuff that comes out all the time. Times Like These by Foo Fighters is towards the top of my ever-evolving list!

Of all the places you have visited on your travels, which comes top of the list and why?

I’m a big fan of France, beautiful country, superb wine and culture. But I guess I have visited Lanzarote the most. It’s an amazing island with a unique atmosphere, rather good wine too!

What food couldn’t you live without?

Is coffee a food? Coffee would be hard to give up, only the good stuff, bean to cup, I’m quite passionate about it.

What are you terrible at?  

Answering questions like this.

What is a hidden talent that few people know you have?

Wood turning, it’s very therapeutic and plays to my creative side, plus working with a natural material is very rewarding.

What do you do for fun?

I play in a couple of rock bands, mostly playing covers but in one of the bands we write original material. I also enjoy being outdoors with my dogs enjoying the natural environment.

Simon was previously Head of Investor Relations, Investment Trusts for BMO Global Asset Management, following a career in investor relations and investment sales for several leading investment managers.