Francis Maude brings Investec boss and angel investor onto Big Lottery Fund board

Harriet Green
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Cabinet Officer minister Francis Maude has appointed three new board members to the Big Lottery Fund, the body that distributes money raised by the National Lottery.

Managing director of Investec Asset Management, Elizabeth Passey, Perdita Fraser, an angel investor and partner at consultancy firm SJ Fraser & Co, and David Isaac CBE, a partner at Pinsent Masons LLP will take up their positions on 1 June.

The posts last four years, with the option of reappointment. The three were appointed following an open recruitment exercise.

Maude says he’s confident that Passey, Fraser and Isaac will bring new ideas, commercial acumen and a “great deal of knowledge” to the table.

Meantime, the Big Lottery Fund’s vice-chair, Anna Southall, has stepped down after eight years in the role. Tony Burton CBE, who joined the board two years ago, will replace her.

Chair of the fund, Peter Ainsworth, commented of the three new board members:

They are joining the Fund at a particularly exciting time when we have just embarked on a review for the development of our strategic framework between 2015 and 2021. I am looking forward to working with them during this important juncture as we develop our plans for the future.