On 13 June 2019, the Board of Utilico Emerging Markets Trust plc announced the appointment of Mr. Eric Stobart as an independent non executive director with effect from 1 October 2019. Mr. Stobart will also be appointed Chairman of the Audit Committee. Mr. Stobart has many years of experience in financial services having spent most of his career in merchant and commercial banking, latterly as a senior executive at Lloyds Banking Group. He has extensive experience as a non-executive director and audit and risk committee chair in the financial services sector covering banking, investment management, insurance and pensions. He was for 12 years chair of the investment committee of the £25 billion Lloyds Bank Pension Scheme as well as having been chair of the audit and risk committee of a substantial investment management group and a director and chair of the audit and risk committee of UIL Limited. Currently he chairs a Lloyd's insurance business and chairs or is a member of the trustee board of four pension schemes with combined assets of some £3.6 billion. Mr. Stobart is a chartered accountant with an MBA from London Business School.