Christian Pittard
About Christian Pittard
Christian Pittard (year of birth: 1973) serves as a Class III Trustee of abrdn Global Dynamic Dividend Fund (AGD), with his term expiring in 2026; he has been a Trustee since 2024. He is deemed an Interested Trustee because he is Head of Closed End Funds at abrdn (parent of the Funds’ Investment Adviser/Sub-Adviser), responsible for the US and UK businesses; he is a Managing Director of Corporate Finance and previously led the Americas/North American Funds business after joining abrdn in 1999 . The AGD Board comprises five Trustees, four of whom are independent, and an independent Chair leads the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| abrdn (global) | Head of Closed End Funds; Managing Director, Corporate Finance | Joined abrdn in 1999; current | Responsible for US/UK closed-end funds; extensive transaction experience . |
| abrdn (US) | Head of the Americas and North American Funds business | Prior to current role (dates not disclosed) | Led regional fund business; senior operating oversight . |
| AGD/AOD/AWP (Funds) | President of the Funds | Since 2018 (as of FY2024 proxy) | Senior fund officer role before becoming Trustee . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| — | None outside the abrdn fund complex | — | No other public company directorships disclosed . |
Board Governance
- Board structure and independence: AGD’s Board has five Trustees, four independent; independent Chair presides. Independent Trustees meet in executive session at least quarterly and retain independent legal counsel .
- Committee assignments: Audit Committee members are Nancy Yao, P. Gerald Malone, and John Sievwright (Chair and audit committee financial expert); Nominating and Corporate Governance Committee members are Yao, Malone (Chair), and Sievwright. Committees are entirely independent; Pittard is not listed as a member of either committee .
- Meetings and attendance: In FY2024, the Board held five regular meetings; Audit Committees held two meetings; Nominating Committees held two meetings. Each incumbent Director attended at least 75% of Board and applicable committee meetings .
- Independence status: Pittard is an Interested Trustee due to his abrdn role (parent of the Funds’ Investment Adviser/Sub-Adviser) .
| Governance Metric | FY2024 | Note |
|---|---|---|
| Board meetings (AGD) | 5 | Regular meetings held . |
| Audit Committee meetings (AGD) | 2 | All members independent; Sievwright is financial expert . |
| Nominating Committee meetings (AGD) | 2 | All members independent; Malone is Chair . |
| Executive sessions of Independent Trustees | ≥ Quarterly | Independent Trustees meet without management . |
| Attendance threshold met | ≥ 75% | Each incumbent Director met disclosure threshold . |
Fixed Compensation
- Funds disclose trustee compensation only for Independent Trustees; Interested Trustees (including Christian Pittard) receive no compensation from the Funds (N/A) .
| Compensation Component (FY2024) | AGD | AOD | AWP | Fund Complex Total |
|---|---|---|---|---|
| Trustee compensation (Pittard) | N/A | N/A | N/A | N/A |
- The Funds have no bonus, profit sharing, pension, or retirement plans for Trustees/officers; officers are employees of abrdn and compensated by abrdn or affiliates .
Performance Compensation
| Incentive Element | Status | Notes |
|---|---|---|
| Annual/Discretionary bonus | Not applicable | No bonus plans for Trustees/officers at the Fund level . |
| Equity awards (RSUs/PSUs/options) | Not applicable | No equity compensation programs for Trustees . |
| Performance metrics (TSR/EBITDA/ESG) | Not applicable | No performance-based pay structures disclosed . |
| Clawbacks/severance/change-in-control | Not disclosed | No such provisions for Trustees disclosed . |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Outside public company boards | None . |
| Fund complex oversight | 12 registrants/12 portfolios overseen by Pittard . |
| Interlocks/potential conflicts | Deemed Interested Trustee due to position at abrdn plc (parent of Investment Adviser/Sub-Adviser) . |
Expertise & Qualifications
- Head of Closed End Funds with significant US/UK transaction experience since joining abrdn in 1999; senior corporate finance responsibilities and prior leadership of the Americas/North American Funds business .
- Board notes his skills contributing to oversight in closed-end fund operations alongside complementary expertise of other Trustees .
Equity Ownership
| Security | Dollar Range (as of April 1, 2025) |
|---|---|
| AGD | None . |
| AOD | None . |
| AWP | None . |
| Aggregate dollar range in Aberdeen “Family of Investment Companies” | None . |
Governance Assessment
- Strengths
- Super-majority independent Board and independent Chair; independent-only Audit and Nominating Committees; quarterly executive sessions and independent counsel support robust oversight .
- Auditor selection/oversight process and pre-approval controls for non-audit services (Audit Committee) provide structure around independence; KPMG selected for FY2025 with independence communications reviewed .
- Concerns/RED FLAGS
- Independence and conflicts: Pittard is an Interested Trustee tied to abrdn (adviser parent), limiting independence and potentially affecting investor perception of board objectivity .
- Ownership alignment: Pittard reported no beneficial ownership in AGD/AOD/AWP, which may be viewed as weak “skin-in-the-game” alignment for a governance overseer .
- Auditor non-audit services to the Investment Adviser/covered service providers are material ($629,124 in FY2024; $1,171,994 in FY2023), though pre-approved by the Audit Committee; ongoing scrutiny is warranted to ensure auditor independence and avoid advisory influence .
- Annual meeting attendance policy: Funds disclose no policy for Trustee attendance at annual shareholder meetings, which some investors view as a transparency/engagement gap .
Net view: Pittard brings deep closed-end fund/corporate finance expertise from abrdn, but his Interested status, lack of fund ownership, and adviser affiliations represent governance alignment risks; strong independent committee structures partially mitigate, yet investors should monitor independence-sensitive decisions and engagement posture .