Paul Winship
About Paul Winship
Paul F. Winship (year of birth: 1964) serves as Secretary and Vice President of The Korea Fund, Inc. (KF) and has held these offices since January 2021; officers serve at the pleasure of the Board and are appointed/removed per the Fund’s bylaws . He is a Vice President and Company Secretary in J.P. Morgan Asset Management’s investment trust business; he holds an LLB (Hons) in Law and is an Associate of the Chartered Governance Institute and the Association of Taxation Technicians . KF’s proxies indicate officers are compensated by the Manager (J.P. Morgan) and not by the Fund, and do not tie officer compensation to Fund performance metrics (TSR, revenue, EBITDA), nor do they disclose officer-level incentive frameworks for the Fund . As of the most recent record dates, no Fund officer owned KF shares, implying limited direct equity alignment from officer holdings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| J.P. Morgan Asset Management – Investment Trust Business | Company Secretary (Vice President) | Since early 2014 | Governance and compliance support across JPMorgan investment trusts |
| Trafalgar House plc (London) | Trainee Company Secretary | Not disclosed | Foundational corporate governance training |
| Corporate trust companies (City of London) | Company Secretary | Described as “over the past 10 years” prior to 2020 | Corporate governance across multiple entities |
| Aga Khan Fund for Economic Development (Paris) | Company Secretary | Most recent prior to 2020 | Governance and administrative leadership for development-focused entity |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| JPMorgan European Investment Trust plc | Company Secretary | Since early 2014 | Supports board processes, disclosure, and compliance |
| JPMorgan Russian Securities plc | Company Secretary | Since early 2014 | Governance and regulatory support for listed trust |
| JPMorgan Multi-Asset Trust plc | Company Secretary | Since early 2014 | Governance for multi-asset mandate |
| The Taiwan Fund, Inc. | Company Secretary | Since early 2014 | US-listed fund governance and filings support |
Fixed Compensation
- The Fund makes no direct payments to officers; compensation and certain expenses for personnel serving as officers are paid by the Manager (J.P. Morgan), which receives a management fee for services .
- The proxy does not disclose Paul Winship’s base salary, target bonus, or cash compensation paid by the Manager (not Fund-paid), nor any perquisites at the officer level for the Fund .
Performance Compensation
- The Fund does not disclose officer-level performance metrics, vesting schedules, RSUs/PSUs, options, or payouts for Fund officers; such arrangements, if any, would be at the Manager level and are not included in KF’s proxy .
- No clawback provisions, tax gross-ups, or deferred compensation elections for Fund officers are disclosed in KF’s proxy .
Equity Ownership & Alignment
| Metric | Aug 2023 | Aug 2024 | Aug 2025 |
|---|---|---|---|
| Beneficial Ownership (Shares) – Paul Winship | 0 (No officer owned shares) | 0 (No officer owned shares) | 0 (No officer owned shares) |
| Ownership as % of Shares Outstanding – Paul Winship | 0.0% (No officer owned shares) | 0.0% (No officer owned shares) | 0.0% (No officer owned shares) |
| Officers and Directors as a Group – % Ownership | <1% | <1% | <1% |
- Pledging/Hedging: No pledging or hedging by officers is disclosed; Section 16(a) reporting for relevant insiders was compliant for each year reviewed .
Employment Terms
- Role and tenure: Secretary and Vice President since January 2021; officers hold office at the pleasure of the Board until successors are appointed/qualified or earlier resignation/removal .
- Compensation source: Officers are not compensated by the Fund; compensation is paid by the Manager. No employment contracts, severance, change-of-control triggers, or accelerated vesting terms for Fund officers are disclosed in KF’s proxy .
- Location: Address for officers is noted as c/o JPMorgan Funds Limited, 60 Victoria Embankment, London EC4Y 0JP, unless otherwise stated .
Investment Implications
- Alignment and selling pressure: Zero KF share ownership by officers (including Paul Winship) across 2023–2025 implies minimal direct equity alignment and no insider selling pressure from Fund officers; large institutional holders dominate the register, shaping liquidity and governance dynamics .
- Compensation transparency: With officer compensation paid by the Manager and not disclosed at the Fund, pay-for-performance assessment for Paul Winship at the Fund level is not feasible; any incentive alignment would be governed by JPMorgan’s internal frameworks, not KF’s proxy .
- Retention risk and change-of-control: Officers serve at the pleasure of the Board with no Fund-disclosed severance or change-of-control economics; retention risk for Paul Winship is primarily a function of his employment with the Manager rather than Fund-level terms .
- Role in trading signals: As an administrative/governance officer (Secretary), Paul Winship is not tied to investment performance metrics or portfolio decision-making in Fund disclosures; therefore, his role presents limited predictive trading signals relative to portfolio managers or directors overseeing investment policy .