The Board of the Guernsey Investment Fund announced today that Gilbert Chalk, the Chairman of the Fund, stepped down from the Board yesterday.
It has become increasingly apparent as a result of the Corona virus lockdown and the quantum of work involved in overseeing the Fund’s management that the chairman needs to be on Island for significant periods beyond that envisaged at the time of the establishment of the Fund.
It was announced on 18 May 2020 that the Fund’s Technology & Innovation and Property Cells are in good health and are well placed to capitalise on current investments and future opportunities. This position and the sound governance of the Fund is in very large part down to the commitment, efforts and professionalism of Gilbert. He was instrumental in the structuring of the Fund and its Cells and the setting of the strategy and detailed review process for the sanctioning of its Investments.
The Board wholeheartedly thanked Mr Chalk for his contribution to the Fund’s success.
Deputy Lyndon Trott, Vice President of the Policy & Resources Committee commented: “Setting up the Guernsey Investment Fund at the end of 2017 was an innovative way for the States to stimulate economic development within key sectors for the wider benefit of the Bailiwick of Guernsey, in addition to securing an investment return in conjunction with other investors.
“Gilbert brought his deep international expertise and independence as a driving force for the set-up of the Guernsey Investment Fund and its operation in its early years. As the States Treasurer’s Report in the 2019 States of Guernsey Accounts confirm, the Guernsey Investment Fund has made excellent progress over this period. We are very grateful for what Gilbert, in his role of chairman, has achieved for Guernsey”.
