John Sievwright
About John Sievwright
Independent Class I Trustee at abrdn Income Credit Strategies Fund (ACP); trustee since 2017 with current term expiring in 2027. Year of birth: 1955. Background includes banking and accounting experience and service as a board member of public companies; currently chairs Burford Capital Ltd and serves on Revolut Limited’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FirstGroup plc (UK) | Non-Executive Director | Prior role; dates not specified beyond “previously” | Not disclosed |
| ICAP plc (UK) | Non-Executive Director | Prior role; dates not specified beyond “previously” | Not disclosed |
| NEX Group plc (UK) | Non-Executive Director | 2017–2018 | Not disclosed |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Burford Capital Ltd | Chairman; Director | Chairman since May 2024; Director since 2020 | Provider of legal finance, complex strategies, post‑settlement finance and asset management services |
| Revolut Limited | Director | Since August 2021 | UK-based digital banking firm |
Board Governance
- Independence: Listed among Independent Trustees; ACP board currently has four Independent Trustees and one Interested Trustee (Christian Pittard) .
- Committee assignments: Member, Audit Committee; Member, Nominating and Corporate Governance Committee .
- Chair roles: ACP Board Chair is P. Gerald Malone (Independent); Sievwright does not hold an ACP board chair role .
- Executive sessions: Independent Trustees meet in executive session at least quarterly .
| Governance Metric (FY2024) | Value |
|---|---|
| Board meetings held | 5 |
| Audit Committee meetings held | 4 |
| Nominating & Corporate Governance Committee meetings held | 1 |
| Attendance | Each incumbent Trustee attended ≥75% of aggregate meetings of the Board and Committees served |
Fixed Compensation
| Compensation Element (FY ended Oct 31, 2024) | Amount |
|---|---|
| Aggregate compensation from ACP | $89,250 |
| Total compensation from ACP Fund Complex | $311,350 |
Proxy discloses aggregate cash compensation; it does not break out annual retainer vs committee/meeting fees for ACP nor indicate equity grants for Trustees .
Performance Compensation
- No stock awards, options, bonuses, or performance-based compensation for Trustees are disclosed in the proxy; only aggregate compensation amounts are provided .
Other Directorships & Interlocks
| Company | Listing/Type | Relationship to ACP/adviser | Potential Interlock/Conflict Notes |
|---|---|---|---|
| Burford Capital Ltd | Provider of legal finance; public company status not specified in proxy | No ACP/adviser linkage disclosed | External chair role; monitor for time commitments; no related‑party ties to ACP disclosed |
| Revolut Limited | UK-based digital banking firm | No ACP/adviser linkage disclosed | No related‑party ties to ACP disclosed |
Expertise & Qualifications
- Banking and accounting experience; board member experience at public companies .
- Board-level skills cited by ACP: ability to critically review, evaluate, question, and discuss information; effective interaction with adviser, sub‑adviser, service providers, counsel, and auditors; exercise of business judgment .
Equity Ownership
| Ownership Metric (as of Apr 1, 2025) | Value |
|---|---|
| Dollar range of ACP shares beneficially owned | $50,001–$100,000 |
| Aggregate dollar range across Aberdeen family funds overseen | $50,001–$100,000 |
- Trustees and officers, in aggregate, owned less than 1% of ACP’s outstanding equity securities .
- None of the Independent Trustees or their immediate family members owned shares of the Investment Adviser or Sub‑Adviser, or any entity controlling/controlled by them .
Governance Assessment
- Strengths: Independent status; dual committee membership (Audit; Nominating/Governance); board led by an Independent Chair; executive sessions at least quarterly; attendance at or above 75% threshold in FY2024; no disclosed related‑party ties with ACP’s Investment Adviser/Sub‑Adviser for Independent Trustees .
- Alignment: Sievwright holds $50,001–$100,000 in ACP shares, which supports some alignment; however, aggregate board/officer ownership is <1% of outstanding shares, which may limit ownership alignment at the board level .
- Monitoring points / potential RED FLAGS:
- External chair role at Burford Capital Ltd could imply time commitments; no conflict disclosed, but monitor for overlaps or transactions involving ACP’s portfolio or service providers .
- Proxy does not disclose equity-based director pay or performance-linked incentives for Trustees; compensation appears cash‑based without explicit at‑risk components .
- No disclosed related‑party transactions, loans, hedging/pledging, tax gross‑ups, or legal proceedings involving Sievwright in the proxy; Independent Trustees and their families have no ownership in ACP’s adviser/sub‑adviser entities, which reduces conflict risk .