MASSIMO TOSATO is Executive Vice Chairman of Schroders plc (appointed in 2007), after having joined Schroders (Italy) in 1995 as Managing Director. He joined the Board of Directors of Schroders plc in London in 2001 and is currently Chairman of Schroder International Selection Fund (SICAV) in Luxembourg (since 1999). He was Chief Executive for Schroder Investment Management Limited (2012 to May 2016) and the group’s Global Head of Distribution (2004 to May 2016). He was previously Chief Executive of Euromercantile S.p.A., a private equity business in Italy from 1991–1995; founder and Chief Executive of Cominvest S.p.A, an investment banking and asset management organisation in Italy from 1981–1991; and Chairman and co-founder of Tonic, an advertising agency in Italy from 1982–1987. Mr Tosato’s current external appointments include being a member of the Advisory Council of TheCityUK; a member of the Board of Overseers at Columbia Business School (since 1992); a member of the Board at Nutmeg, a pioneer online discretionary investment management start-up in the UK (since 2014); Global Advisor of InstaCredit SpA, a new market funded digital lender to small and medium-sizes enterprises in Italy (since 2016). Massimo is also a trustee of the Parasol Unit Foundation for Contemporary Art, London. Previously he was Vice President and Director of EFAMA (the Brussels based European Fund and Asset Management Association) from 2009–June 2013; and an Independent Director of the Board of Banca Nazionale del Lavoro in Rome from 2002–2005.