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Biography Paul has been involved in the Australian securities industry since 1971. Paul's early career in the Securities Markets Department of the Reserve Bank of Australia gave him a wide view of the securities industry in Australia and prepared him for the variety of roles during his career. He has managed all the main asset classes and a diverse range of business within large and small organisations. Board experience includes current directorship of a boutique responsible entity, in 2008 independent non executive directorships of an ASX listed infrastructure manager, a regional bank's responsible entity and superannuation trustee boards and past executive directorships of fund managers dating back to 1986. He is an independent member of the Investment Committee for the fund management subsidiaries of two financial planning firms and an independent member of the Product and Investment Committee and Risk Committee for a major bank's investment manager. Paul is an external member of compliance committees for a wide range of registered schemes and responsible entities. Since 1997 he has been the principal of Rivergum Investors. Assignments included development of compliance programs and investment processes for fund managers. Over the past few years he has given a great deal of informal advice to fund managers wishing to start up boutique fund management operations in Australia. He is a co-founder of the Independent Compliance Committee Member Forum, which meets in Sydney, Melbourne and Brisbane. Prior to 1997 he was Head of Asset Allocation and a Director of First State Fund Managers Limited, (now Colonial First State Investments). He was Director Trading & Funding at Security Pacific Gold from 1989 to 1990, at Kleinwort Benson Australia from 1986 to 1989 as Director, Fund Management and at Legal & General Life in 1986 as Investment Fund Manager. He worked at Mercantile Mutual Holdings Ltd from 1980 to 1986, as a Portfolio Manager and in the Securities Markets Department of the Reserve Bank of Australia from 1971 to 1978. Paul is independent, has a wide background and brings together a practical approach and a high level appreciation of the issues at stake in the securities industry. He has a detailed knowledge of the investment process, combined with an understanding of the practical workings of compliance and corporate governance.