ANNUAL REPORT AND FINANCIAL STATEMENTS 2012 | 07


Executive management


Edward Bramson Executive Chairman


Benjamin Apfel Head of Legal


Peter Cole Head of HR


Nick Criticos Chief Executive, F&C REIT


Tracy Fennell Head of Marketing & Communications


RichardWilson Chief Executive Officer


Toby Hampden-Acton Chief Executive, Thames River Capital


Steve Ilott Co-Head of Investment


Mandy Mannix Head of Client Management


Hugh Moir Head of Operations, IT & Projects


David Logan Chief Financial Officer


Martin Smith Head of Product Management


Marrack Tonkin Head of Investment Trusts & Group Company Secretary


RichardWatts Co-Head of Investment


Executive Directors and Group Management


Messrs Bramson, Wilson and Logan are the Executive Directors of the Company.


The Executive Directors, togetherwith the individuals listed above, form theGroupManagement team(GroupManagement).GroupManagement is accountable and responsible for implementing Board strategy, proposing development of newelements of strategy and for the day-to-day running of the business. In addition to overseeing the implementation of the strategy,GroupManagement regularly reviews business issues andmatters not reserved for the Board as awhole.Group Management has reserved lists to assist it in carrying out its functions.


Examples of matters reserved for Group Management as delegated authorities from the Board include:


• The approval of day-to-day business issues linked to the strategy or the annual budget.


• The launch of new products. • The approval of contractual commitments.


• The approval of expenditure and the management of any issue that could have a potential legal or reputational impact on the Group.


F&C Commercial Property Trust


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