Director selection: end the amateurism

Director selection offshore is still too often based on who you know, not what you know. References are not often checked and it still has the same clubby feel to it as it had decades ago. But the roles and responsibilities of directors have grown enormously since then. Shouldn’t there be more of a change in the way offshore fund directors are selected too?

There are now a few initiatives that have set out to change the way that things are done, but not many. Board Apprentice is one of them. Started by Charlotte Valeur, an independent fund director based in Jersey, it is ‘a not-for-profit social franchise dedicated to increasing diversity on boards globally’. It is a mechanism for increasing diversity on to boards. It identifies and then places diverse candidates as board apprentices on boards for one year. Board Apprentice is in several jurisdictions including Cayman.

To read more on this article see the September issue of The NED.