Board of directors

Richard Balfour-Lynn, Chairman (aged 56)

Formed Warwick Balfour Properties Plc in 1982, a commercial and residential property development and investment company, working in established and growth areas of central London.  He co-founded MWB Group Holdings Plc, formerly Marylebone Warwick Balfour Group Plc, the Company’s ultimate holding company, in 1994 and is the chief executive of and a substantial shareholder in that company.  He has been a Director of the principal operating companies in Business Exchange since the formation of this division by MWB Group Holdings Plc in 1996 and has been a Director of the Company since November 2005.  He is responsible for leading the Board in determining the Group’s strategy and the achievement of its objectives.  Richard is Chairman of the Remuneration Committee and is a member of the Audit and Nominations Committees.

John Spencer, Chief Executive (aged 51)

Joined the Group as Chief Executive in April 2004.  For the 11 years prior to joining the Group, John worked for Chubb Plc, the last four of those as managing director of Chubb Fire Limited.  He has been a Director of the principal operating companies in Business Exchange since he joined the Group in 2004 and he has been a Director of the Company since November 2005.  He is responsible for running the business and for formulating and implementing the Board’s strategy for delivering profitability and shareholder value.  He is also responsible for liaison between the Company and its shareholders.  John is a member of the Nominations Committee.

Rick Aspland-Robinson, Executive Director (aged 50)

Joined MWB Group Holdings Plc in 1996.  He has been a Director of the principal operating companies in Business Exchange since 2004 and has been a Director of the Company since November 2005.  He is responsible for property acquisitions and the negotiation of major tenancies and licences as well as all corporate property partnerships agreements.

Keval Pankhania, Finance Director (aged 37)

Joined MWB Group Holdings Plc as a finance executive in 1998 and transferred to Business Exchange as Finance Director in August 2003.  He has been a Director of the principal operating companies since then and has been a Director of the Company since November 2005.  He is responsible for financial and commercial management across the Group, including financial statements issued by the Group to its shareholders and debt and equity raising undertaken by the Group.  He is also responsible for liaison between the Company and its shareholders.

Jag Singh, Non-Executive Director (aged 51)

Joined Hill Samuel in 1980 specialising in investment management.  He moved to Lombard Odier et Cie. in 1985 where he was responsible for corporate and investment finance for quoted companies.  He joined the Board of the MWB Group Holdings Plc in November 1998 and, amongst his other responsibilities, has managed its investment in the principal operating companies in Business Exchange.  He has been a Director of these companies for a number of years and he has been a Director of the Company since November 2005.  Jag is Chairman of the Audit and Nominations Committees and a member of the Remuneration Committee.