A Message from The Trustees of the Provident Fund

Richard Chadburn writes

When the Provident Fund was set up in the early 1970s, the selection of appropriate trustees was given proper consideration. The inclusion of a truly independent trustee – independent of both the Baily Thomas advisors and of the Brewery management – was thought to be essential. At that time, because Frank Baily Thomas’s affairs, and in particular the setting up of the trusts, were going through a process of approval by the Courts of Protection, another government agency, The Public Trustee, was asked and agreed to act as that independent trustee.

Times have changed over the last thirty years as we all know. The extent to which government bodies provide their services has come under a great deal of scrutiny. The Public Trustee deals primarily with trusts in difficulty, either legally or financially. You will be pleased to know that we fit into neither of these categories! It became clear to me that their involvement with us was no longer appropriate from their point of view, and that although they would continue for a time, an axe would eventually fall. To pre-empt that, I decided to ask them to help me find an appropriate replacement.

The need for independence remained the same. To this we added a requirement for professional expertise and a preference for a local organisation. London did not seem to me to be at all relevant, although to test that we did include London-based firms on our short list. I am pleased to say that the result of our deliberations has been the appointment of Browne Jacobson LLP, a substantial Midlands firm of solicitors, with their main base in Nottingham, and an established reputation in the field of trusts and charities.

The change makes no difference in principle. As with the Public Trustee, we have a corporate trustee namely Browne Jacobson Trustees Limited, not a particular individual. The team currently in place at Brown Jacobson under partner William Colacicchi do of course inject some fresh thinking, something that I particularly welcome. So, we shall be reviewing our practices and procedures, including the objectives of our investment policy and our approach to grants. But all of my thinking and theirs has to be done within the confines of the Trust Deed. Within the next twelve months we will arrange a forum at which beneficiaries can meet some of the new team and discuss the future.

William Colacicchi adds

It has been a privilege for Browne Jacobson to be appointed a trustee of the Baily Thomas Provident Fund – and the time since our appointment in April 2005 has been an education for us all at BJ's!

While we are used to being trustees of grant making bodies, it is rare to find a fund that makes so many grants, and processes the claims so quickly. You have a great team administering he fund in Denise Wilson and John Else, and we have been very impressed with the dedication and thoroughness of our co-trustee Richard, his knowledge of so many of you, and the systems we have inherited.

Browne Jacobson's is a firm with a strong presence in the voluntary and public sectors, and we welcome the chance to work with you all in trying to improve the lives of former employees of the brewery and their families. We hope to meet as many of you as possible over the coming months and years.