John Sievwright
About John Sievwright
Independent Class I Trustee of abrdn Global Infrastructure Income Fund (ASGI), trustee since 2020 with current term expiring in 2027. Year of birth: 1955. He chairs the Fund’s Audit Committee and is designated an “audit committee financial expert” under SEC rules. Background includes senior operating and risk roles in global financial institutions and public boards; education: MA in accountancy and economics, University of Aberdeen. He also serves as Chair of Burford Capital Ltd (since May 2024; director since 2020) and holds other external directorships noted below .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Merrill Lynch | Chief Operating Officer, International; COO, Global Markets & Investment Banking; President & COO, Merrill Lynch Japan; Head of Global Futures & Options | 20-year career (prior to 2008) | Served as President of the Futures Industry Association during F&O leadership . |
| ICAP plc / NEX Group plc | Senior Independent Director; Chair of Audit & Risk Committee | Prior role (dates not specified) | Led audit and risk oversight . |
| FirstGroup plc | Senior Independent Director; Chair of Audit Committee | Prior role (dates not specified) | Chaired audit committee . |
| Bankers Trust; Bank of Tokyo | Finance and accounting functions | Prior roles | Finance and accounting leadership . |
| Ernst & Young | Auditor; Chartered Accountant | Early career | Qualified Chartered Accountant . |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Burford Capital Ltd (NYSE: BUR) | Non-Executive Chair of the Board; Director | Chair since May 2024; Director since May 2020 | Also chairs Burford’s Compensation Committee . |
| Revolut Group Holdings Ltd (d/b/a Revolut) | Non-Executive Director; Chair of Risk Committee | Since Aug 2021 (as Revolut Limited per ASGI) | Risk oversight chair at Revolut; ASGI lists Revolut Limited; Burford filing references Group Holdings . |
| Buyside Trading Solutions | Chair of the Board | Not disclosed | Governance leadership role . |
| LoopFX (fintech) | Chair of the Board | Since Sept 2022 | Fintech market structure oversight . |
| abrdn U.S. Fund Complex | Independent Trustee across funds | Ongoing | Oversees 6 registrants consisting of 8 portfolios within the abrdn complex . |
Board Governance
- Independence and leadership: ASGI’s Board has eight trustees, seven independent; the Board Chair is independent (P. Gerald Malone). Independent trustees meet in executive session at least quarterly, with separate independent counsel. Sievwright is an Independent Trustee .
- Committees: Audit Committee (all independent) chaired by Sievwright; he is designated the “audit committee financial expert” under Reg S-K 401(h). He is also a member of the Nominating & Corporate Governance Committee .
- Meetings and attendance: FY2024—Board held five regular meetings and one special meeting; Audit Committee met four times; Nominating Committee met once. Trustees serving during FY2024 attended at least 75% of aggregate Board and committee meetings (per records). FY2023—Board held five meetings; Audit Committee met four times; trustees attended at least 75% .
- Annual meeting attendance policy: No formal policy regarding trustee attendance at shareholder annual meetings .
- Auditor oversight: Audit Committee recommended KPMG as independent auditor; oversaw audit and permissible non-audit services and monitored valuation processes .
Board oversight and activity metrics:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings held | 5 | 5 regular, 1 special |
| Audit Committee meetings | 4 | 4 |
| Nominating Committee meetings | 1 | 1 |
| Attendance threshold disclosed | ≥75% of meetings for serving trustees | ≥75% of meetings for serving trustees |
| KPMG Audit Fees ($) | $129,000 | $136,800 |
| Non-audit fees billed to adviser/covered service providers ($) | $1,171,994 (total) | $629,124 (total) |
Fixed Compensation
- The Fund discloses only trustee compensation; the Fund has no bonus, profit sharing, pension or retirement plans for trustees/officers .
| Compensation | FY 2023 | FY 2024 |
|---|---|---|
| Aggregate compensation from ASGI ($) | $48,096 | $50,625 |
| Total compensation from ASGI Fund Complex ($) | $275,644 | $304,350 |
Performance Compensation
- Not disclosed/applicable for independent trustees; the Fund states no bonus, profit sharing, pension or retirement plans. No performance metrics or equity awards are presented for directors in the proxy .
Other Directorships & Interlocks
- Current public company: Burford Capital Ltd—Non-Executive Chair; Compensation Committee Chair . ASGI listing notes Chair since May 2024 and director since 2020 .
- Private/regulated: Revolut—Non-Executive Director; Chair of Risk Committee . LoopFX—Chair . Buyside Trading Solutions—Chair .
- Prior public company boards: FirstGroup plc; ICAP plc; NEX Group plc (2017–2018); served as Senior Independent Director and Audit/Risk Chair roles .
Expertise & Qualifications
- Accounting/finance depth: Chartered Accountant; early career at Ernst & Young; MA in accountancy and economics (University of Aberdeen) .
- Global operating leadership: Former COO, International, Merrill Lynch; prior COO, Global Markets & Investment Banking; President & COO, Merrill Lynch Japan .
- Risk/audit leadership: Audit committee financial expert at ASGI; chairs Revolut’s Risk Committee; prior audit/risk chair roles at ICAP/NEX and FirstGroup .
Equity Ownership
- Individual beneficial ownership (dollar ranges): ASGI—$10,001–$50,000; Aggregate across abrdn family funds overseen—$50,001–$100,000 (as of April 1, 2025). Trustees and officers as a group owned <1% of ASGI outstanding shares; none of the Independent Trustees or immediate family members owned shares of the adviser/sub-adviser or their controlling affiliates .
| As-of Date | ASGI Ownership Range | Aggregate abrdn Family Ownership Range | Group Ownership Note |
|---|---|---|---|
| Oct 31, 2023 | $10,001–$50,000 | $50,001–$100,000 | Trustees/officers as a group <1% |
| Apr 1, 2025 | $10,001–$50,000 | $50,001–$100,000 | Trustees/officers as a group <1%; no adviser/sub-adviser holdings by Independent Trustees/families |
Governance Assessment
- Strengths: Independent trustee with deep audit/risk expertise; designated audit committee financial expert; chairs ASGI Audit Committee. Oversight cadence is robust (Audit met 4x in FY2024; Board met 6 times including one special), and trustees met attendance thresholds. Auditor oversight includes pre-approval of non-audit services and monitoring valuation, with transparent fee disclosures .
- Alignment: Holds a personal investment in ASGI within disclosed dollar range; as a group, trustees/officers own <1% of ASGI; independent trustees and families hold no shares of the adviser/sub-adviser—limiting related-party exposure .
- External roles and potential risks: Concurrent chairs at Burford (Board and Compensation Committee) and Revolut (Risk Committee) indicate significant time commitments; continued monitoring of attendance and engagement is warranted (trustees met ≥75% attendance in FY2024/FY2023) .
- Conflicts/related-party transactions: No related-party ownership in adviser/sub-adviser by independent trustees is disclosed; no related-party transactions are reported in the proxy for independent trustees .
No RED FLAGS disclosed in ASGI proxies regarding related-party transactions, pledging/hedging, or equity award repricing for directors. Continued monitoring of multi-board commitments is prudent given multiple chair roles .