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Former UBS head joins SVG board

The appointment of David Robins, currently chairman of broker Oriel Securities, comes as the fund of funds starts to diversify its private equity investments.

London-listed SVG Capital has hired David Robins, the former European head of UBS, as a non-executive director. 

Robins is currently chairman of stock broker Oriel Securities, and was previously chairman and chief executive of investment bank of ING Baring. Prior to this, he worked 18 years for Philip & Drew and UBS, where he ended up becoming executive vice president and regional head for Europe. 

He will combine his new responsibilities at SVG with his current non-exec roles at hedge fund Henderson TR Pacific Investment Trust, UK engineering business Meggitt, and two venture capital firms, according to a statement. A former chairman of New Philanthropy Capital, he is now chairman of two other charities.

David Robins

Long a cornerstone LP in Permira funds, SVG carried out a strategic review following the financial crisis, when economic pressures made it unsure the firm would be able to honour its private equity commitments. It has since then posted a strong recovery and sought to diversify its investment strategy, the first evidence of which was its £100 million commitment to the Fifth Cinven Fund last June.

“The strategy that we announced in 2011 is coming into play,” Lynn Fordham, chief executive of SVG, told Private Equity International then. “We expect to make some more commitments within the next 12 months.” 

Robins’ appointment shortly follows the announcement of strong interim results by SVG, which posted a 23 percent NAV increase and £101 million in returns on Monday. The firm anticipates another £267 million in distributions over the next two to three years. 

The fresh nomination also comes after a series of board changes at the firm, with Andrew Sykes succeeding Nicholas Ferguson as chairman, Stephen Duckett joining as a new member and Edgar Koning, Denis Raeburn and Francis Finlay retiring from the corporate body last year.