Director talk: Susannah Nicklin
Susannah is chair of Ecofin Global Utilities and Infrastructure Trust, and a director of North American Income Trust.
In the boardroom
How would you explain your role to somebody who was new to investment trusts?
The role of an investment trust non-executive director (NED) in some ways is like being the coach of a sports team: not taking the shots on the pitch, but responsible for the team playing fairly and successfully, and ultimately accountable to the fans. I have a legal duty to act in shareholders’ interests, not those of the investment manager.
The board doesn’t make the individual stock decisions, but we engage with our portfolio manager, scrutinising and challenging performance, attribution and processes. We consider strategic direction and make key financial decisions primarily around dividend policy, and share buybacks or issuance.
The role of an investment trust non-executive director in some ways is like being the coach of a sports team: not taking the shots on the pitch, but responsible for the team playing fairly and successfully, and ultimately accountable to the fans.
Susannah is chair of Ecofin Global Utilities and Infrastructure Trust, and a director of North American Income Trust.
What’s the number one skill you bring to the board?
Independent thinking.
Who’s been the biggest influence on your career?
My mum and dad. Mum because she taught me to look for everyone’s unique gifts, to think critically, develop problem-solving and leadership skills, to speak up when something needs to be said, and to find the funny side. Dad because he is the most positive and tirelessly curious person I know, and has shown me through his example that you succeed when you show up with your whole self, do hard things and build meaningful, lasting relationships.
What’s the most challenging part of your job as a trust director?
At a macro level: playing a role in reinvigorating the UK economy and the London investment market. At a micro level: staying abreast of AI implications, reaching more and new retail investors, and measuring the effectiveness of our marketing activities.
What advice would you offer to new directors?
Buy shares in your companies as soon as you join and continue to buy if you can, and own shares of other investment trusts. If you don’t already have a directors’ only meeting prior to each board meeting, consider implementing one. Serve light lunch at your AGM and invite your shareholders and their partners/children to attend. We need to work together to encourage more women and a younger demographic to include investment trusts in their portfolios.
Away from work
What’s your number one desert island disc?
My brother Thomas McKean’s amazing first album (2025) called Play.
Of all the places you have visited on your travels, which comes top of the list and why?
A cycling trip in the Dordogne visiting the ‘Sistine Chapels’ of prehistory at Lascaux and Grotte de Font-de-Gaume, the Chateau des Milandes of the legendary Josephine Baker, and the extraordinary natural and culinary delights of Rocamadour.
What food couldn’t you live without?
Olive oil.
What is a hidden talent that few people know you have?
I am a qualified relationship therapist.
What do you do for fun?
During the pandemic I started a fortnightly “Distant and Social” film club with friends from around the world. We are still going and have watched and discussed nearly 200 incredible films from all eras and continents.
