John C Sheath CDir FFA FAIA FIOD Ballamoar Cottage, Lower Foxdale Chartered Director Isle of Man IM4 3EA +44 7624 496260 [email protected] www.cornerstone.im

PROFESSIONAL OVERVIEW: An internationally experienced Chartered Director, independent non-executive director, non- executive chairman and senior executive. Providing consultancy services to various clients including banks, legal firms, insurance companies, fiduciaries, accountancy firms and the IoM Government, sitting on various board committees including audit, risk & compliance and remuneration. Specialising in Risk & Corporate Governance, Business Strategy/Development and Business Improvement, bringing a wide career with experience both locally & internationally and known to regulators around the world including IoM, UK, CIs, UAE, HK and Singapore. Wide international network of contacts across all relevant sectors, industries and jurisdictions. Now seeking further non-executive roles to add value and help businesses grow.

EXPERIENCE & SKILLS:

CAREER HIGHLIGHTS INCLUDE:

• Led & obtained approval in principal for a life assurance start up client, the first in the IoM for 25 years, targeting Africa & ME, South America & Caribbean and Asian markets • Influenced a board to implement new risk strategy and strategic planning at the group level • Designed, created, launched and managed the first Isle of Man Regulated Scheme in 2010 (a cash fund) exceeding benchmark return by over 30% • Designed and implemented a range of banking products for an IoM based international bank, delivered to budget and on time • Conducted and implemented a wide-ranging risk strategy for a large law firm on the IoM • Led Bradford & Bingley International (BBI) delivering all strategic targets achieving growth from £2.1 billion to £3.5 billion between 2001 and 2007; expanding markets to include Middle East and Far East including a banking licence in Hong Kong and launched an online channel • Conducted full operational review of GAM Administration, resulting in improved cash flow, management efficiency, major system changes and internal audit improvements, across IoM, Dublin and Zurich offices • One of four private sector individuals representing all financial businesses, working with the IoM Government Department of Treasury to improve, obtain buy-in and implement the Zero-Ten Tax Strategy

Page 1 of 3 John C Sheath CDir FFA FAIA FIOD Ballamoar Cottage, Lower Foxdale Chartered Director Isle of Man IM4 3EA +44 7624 496260 [email protected] www.cornerstone.im • As NED Chairman & Resident Officer, helped establish, obtain full CSP/TSP licences for a start- up fiduciary and its eventual sale five years later

NED POSITIONS:

• Current: § Red Ribbon Fund Management Limited (Chairman) – Gibraltar regulated fund manager § International Institute of Space Commerce (Treasurer/Secretary) – IoM based joint venture between IoM Government Treasury & International Space University § Space & Satellite Professionals International (NED) – international professional network • Previous: § Space Data Association Limited (Secretary) – global satellite data sharing organisation § LLC Agro Farm Capital PLC (NED Chairman) – IoM based private investment company § Vision View International Limited (NED) – Gibraltar incorporated IT company § Senate Limited (NED Chairman) – Fiduciary (CSP/TSP) § UK Secured Finance Fund Plc (NED) – IoM based bridging finance fund § Laxey Group Limited (NED) – activist investor group § Knox D’Arcy Asset Management Limited (NED) – fund manager/administrator § Hillberry Cash Fund Plc (NED) – Regulated Scheme (cash fund)

PROFESSIONAL QUALIFICATIONS AND MEMBERSHIPS:

• Fellow, Institute of Financial Accountants (qualified 1982, Fellow 1988) • Fellow, Association of International Accountants (qualified 1988, Fellow 1992) • Fellow, Institute of Directors (admitted 2001, Fellow 2011) • Chartered Director (qualified 2009, elected Chartered Director 2010)

CAREER INCLUDES:

Cornerstone Consultancy Limited (www.cornerstone.im) Managing Director - November 2007 to Date: • Services include business development & market growth, risk & corporate governance, business improvement as well as general business consultancy

Red Ribbon Fund Management Plc (www.redribbon.gi) Non-Executive Director & Chairman – August 2015 to Date: Gibraltar based fund manager, with a regulated fund & imminent UCITS II funds launching in Luxembourg

Non-Executive Director August 2008 to Date: for several businesses on and off island including fund managers, fiduciary services, regulated funds, service entities and charities

International Institute of Space Commerce (www.iisc.im) Company Secretary - Dec 2010 to Date: • Working closely with the Isle of Man Government & the International Space University in Strasbourg to grow this international think tank including launching a US based sister entity

Page 2 of 3 John C Sheath CDir FFA FAIA FIOD Ballamoar Cottage, Lower Foxdale Chartered Director Isle of Man IM4 3EA +44 7624 496260 [email protected] www.cornerstone.im ManSat Limited (www.mansat.com) Chief Financial Officer - Sep 2018 to March 2020 Working closely with the Isle of Man Government & satellite businesses around the globe

NEDS IOM (www.neds.im) Founder - February 2009 to June 2018: • Created and launched this IOM register for NEDs listing over 225 members • Obtained Regulator, Department of Trade & Industry, Treasury & IoD London accolades

Ferrous Resources Limited Representative - June 2009 to December 2015: • Iron mine based in Brazil, providing local presence in head office prior to floating

Carraghyn Limited (www.carraghyn.com) Director - May 2010 to March 2014 • Chartered Director Consultancy

Massif Gold Limited Representative - August 2012 to July 2013: • Gold mine based in Czech Republic, provided local presence in head office before launch

Bradford & Bingley International Limited Managing Director - Jun 2001 to Oct 2007: • 15,000 customers in 128 countries, revenue in excess of £126m with 36 staff, cost base of £3m, balance sheet growth of £2bn to £3.5bn during tenure • Member of Audit, Risk & Compliance Committee • Obtained Hong Kong banking licence, launched outsourced online banking channel

Cornerstone Consultancy Ltd, IoM & London Managing Director - 1995 to May 2001: • Blue chip clients including IoM Government, law firms, accountancy firms, banks and fiduciary services companies

EARLY CAREER:

• 1993 to 1995: Consultant & Business Analyst: GAM Administration Ltd • 1989 to 1993: Group Chief Financial Officer/Assistant Co Sec: Royal Bank of Canada • 1983 to 1989: Chief Accountant/Company Secretary: Castle Industries Ltd • 1981 to 1983: Audit Senior: Jackson & Co, Smith Forshaw Harper & Revill • 1975 to 1981: Training years to Audit Senior: Ernst & Young

PERSONAL:

• Interests include badminton, cycling, golf, reading archaeological novels and playing guitar • References available on request and via www.cornerstone.im • Nationality British

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