Sykes becomes chairman of SVG

The appointment of Andrew Sykes follows the decision of current chairman Nicholas Ferguson to retire from the board.

SVG Capital has appointed Andrew Sykes as its new chairman, it said in a statement. Sykes, who has been on SVG’s board since February 2010, will take up his new role on 8 November. The appointment comes following current chairman Nicholas Ferguson's decision to retire.

Sykes has been working in financial services for more than 30 years. From 1978 until 2004, he worked at Schroders in a variety of investment banking and fund management roles. In 1998 Sykes became a board member and was responsible for several sections including the firm’s financial markets division, proprietary trading, derivatives, structured finance and capital markets.

As well as being on SVG’s board, Sykes is currently deputy chairman of Smith & Williamson Holdings, chairman of Schroders Real Estate Investment Trust, Absolute Return Trust, Record, and JPMorgan Asian Investment Trust.

In a statement he said: “I look forward to continuing to work with board and management on the next phase of the company’s development.”

SVG Capital, a UK fund of funds manager, was established in 1996 when all investors in funds managed by Schroder Ventures were offered to exchange their fund interest for shares in SVG Capital, which was then listed on the London stock exchange. 

In December 2011, SVG announced a strategy overhaul that will see it diversify beyond its core relationship with UK-headquartered buyout firm Permira.  It will still commit capital to Permira funds, but is likely to invest in other funds as well.