Herald Investment Trust PLC announced the appointment of Andrew Joy as an independent non-executive director and chairman-designate of the company with effect from 1 October 2022. Andrew is expected to succeed Tom Black as the Company's Chairman at the conclusion of the next annual general meeting in April 2023 when Tom will stand down from the Board having completed nearly ten years of service. During the interim period, Tom will work closely with Andrew to ensure an orderly transition.

Andrew is currently chairman of The Biotech Growth Trust plc, a position he has held since July 2016 having joined the board in 2012 as a non-executive director. The Biotech Growth Trust has announced that Andrew is expected to retire from that role in July 2022. He is also a senior advisor of Stonehage Fleming, chairman of the investment committee of FPE Capital and is a trustee of several charities.

Andrew is highly regarded for his extensive knowledge of the financial sector and of the high-growth part of the smaller company sector. He was one of the founding partners of Cinven and has been chairman or director of numerous growth companies over the past 30 years. He is former chairman of the British Venture Capital and Private Equity Association and a director of the European Venture Capital Association.