Christian Pittard
About Christian Pittard
Christian Pittard is the Fund’s sole Interested Trustee, nominated for a Class II term through 2028, and was appointed to the Board effective June 30, 2024. He is Head of Closed‑End Funds for abrdn, responsible for the US and UK businesses, and Managing Director of Corporate Finance; he joined abrdn in 1999 from KPMG. Year of birth: 1967 (nominee table) and he also serves as a Vice President of the Fund (officer listing shows Year of Birth: 1973). Tenure: Trustee since 2024; Fund officer since 2017. Core credentials: extensive closed‑end fund transaction execution across US/UK and corporate finance leadership at abrdn .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| abrdn (Americas) | Head of the Americas and North American Funds business | Prior role (dates not specified) | Led US fund business; deep closed‑end fund experience |
| KPMG | Prior employer | Until 1999 | Joined abrdn from KPMG in 1999 |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| abrdn (global) | Head of Closed‑End Funds (US & UK) | Current | Oversees closed‑end businesses; Managing Director, Corporate Finance |
| abrdn Income Credit Strategies Fund (ACP) | Vice President (officer) | Since 2017 | Officer of the Fund; corporate finance background |
Board Governance
- Independence status: Deemed an Interested Trustee due to his position with Aberdeen Group plc (the parent of the Fund’s Investment Adviser and Sub‑Adviser) .
- Board composition: 4 Independent Trustees and 1 Interested Trustee (Pittard) .
- Committee assignments: None; standing committees (Audit; Nominating & Corporate Governance) are comprised entirely of Independent Trustees. Audit members: Nancy Yao, P. Gerald Malone, Randolph Takian, John Sievwright; Nominating members: Nancy Yao, P. Gerald Malone, Randolph Takian, John Sievwright .
- Chair: P. Gerald Malone (Independent Trustee) .
- Executive sessions: Independent Trustees meet outside management at least quarterly and retain independent legal counsel .
- Attendance: In FY2024 the Board held 5 meetings; Audit 4; Nominating 1. Each incumbent Trustee attended at least 75% of aggregate Board/Committee meetings on which they served (individual rates not disclosed) .
- Term and service: Class II term to 2028 (if elected); Trustee since 2024 .
Fixed Compensation
| Fiscal Year | Aggregate Compensation from ACP | Total Compensation from Fund Complex | Notes |
|---|---|---|---|
| FY2024 | $0 | $0 | Interested Trustees receive no compensation from the Fund/Complex |
No director meeting fees, committee fees, or chair fees are disclosed for Pittard; independent trustee cash totals are disclosed separately, but not applicable to Pittard .
Performance Compensation
- No equity grants, options, RSUs/PSUs, or performance‑based director compensation disclosed for Pittard; the compensation table lists only cash totals for Independent Trustees and $0 for Interested Trustees .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Other public company boards | None disclosed |
| Fund Complex oversight | 12 registrants overseen (Fund Complex context) |
| Interlocks/conflicts | Employed by the Investment Adviser; Fund advised/sub‑advised/administrated by abrdn affiliates; parent Aberdeen Group plc. Pittard’s employment creates an inherent related‑party linkage (Interested status) . |
Expertise & Qualifications
- Closed‑end funds leadership: Head of Closed‑End Funds for abrdn (US & UK); significant US/UK closed‑end transactions since 1999 .
- Corporate finance: Managing Director, Corporate Finance at abrdn .
- Fund officer experience: Vice President of ACP since 2017 .
Equity Ownership
| As of | Dollar Range Owned in ACP | Aggregate Dollar Range Owned Across abrdn Family Funds | Notes |
|---|---|---|---|
| April 1, 2025 | None | None | As reported in beneficial ownership table |
As of April 1, 2025, Trustees and officers in aggregate owned less than 1% of ACP’s outstanding equity securities .
Governance Assessment
- Independence and conflicts: Pittard is not independent; he is an Interested Trustee due to his role at Aberdeen Group plc, while abrdn entities serve as Adviser/Sub‑Adviser/Administrator to ACP. This linkage presents potential perceived conflicts; mitigants include a super‑majority independent Board, an Independent Chair, and committees composed solely of Independent Trustees .
- Committee roles/engagement: No committee membership for Pittard; all standing committees are independent‑only, reducing direct influence of Interested Trustees on audit and nominations .
- Compensation alignment: $0 director compensation from ACP/Fund Complex for Pittard avoids pay conflicts but also means no at‑risk or equity‑based alignment tied to ACP performance .
- Ownership alignment: Reported “None” ownership in ACP and across abrdn family funds may signal limited personal financial alignment with shareholders .
- Attendance/engagement: Board and committee meeting cadence disclosed; aggregate attendance threshold met for incumbents in FY2024, but individual attendance for Pittard not provided (appointed June 30, 2024) .
Red Flags
- Interested Trustee status with direct employment by the Investment Adviser’s parent (related‑party exposure) .
- No disclosed personal ownership in ACP (alignment concern) .
- Dual role as Fund officer (Vice President) and Trustee increases perceived management influence on governance, albeit with independent‑only committees and Independent Chair as structural counterweights .
Signals improving investor confidence
- Independent Chair and super‑majority independent Board, with independent‑only Audit and Nominating committees .
- Audit oversight and independence processes documented; non‑audit services independence reviewed and affirmed .