8 Kearsney Development Fund Registered Trust No: 2334/82 OBJECTIVE The Kearsney Development Fund was created in 1982 to take transfer of and manage the endowment fund of Kearsney College. The Trust (The Kearsney Development Fund) is a registered Non-Profit Organisation and any income that is awarded is applied towards education and development at the School. The key objective of the Kearsney Development Fund is to secure and grow the endowment funds of Kearsney College and to provide sustainable and growing financial suppor t to the College for the benefit of current and future generations. The investment strategy of the Kearsney Development Fund is to preserve and grow the underlying investments in real terms over time through the combined effor ts of the Trustees and an outsourced Investment Manager. TRUSTEES Trust Chairman: Peter Morgan has chaired the Kearsney Development Trust since 1999. Qualifications: B Comm CA (SA) Career: Peter joined the accounting practice of Compton & Horne in January 1975 where he completed his articles and qualified as a Chartered Accountant. He remained with this firm for 25 years (through a series of mergers it ultimately became Deloitte &Touche) serving as a partner for 17 years and heading up the Financial Services Group in his last 4 years. In 2001 he was part of a joint buyout of this division to form a new Company in the Nedbank stable known as BoE Trust (KZN) Limited. He acted as Managing Director/Regional Manager of this Company/Division until mid-2010. He currently acts as an independent Trustee and Financial Consultant. Kearsney: Peter attended Kearsney from 1966 to 1970 (Pembroke) together with his brothers, Doug (1966) and Tony (1968). His two sons, Greg (2001) and Chris (2003) also attended Kearsney. He served on the Board of Governors and was Chairman of the Finance Committee from 1999 to 2005. His late father, Don, was a founding Trustee of this Trust. Trustee: Rob Becker Qualification: BSc (QS) PrQS PMAQS Career: Rob joinedWalters & Simpson as a student quantity surveyor in 1969 and after qualifying as a Quantity Surveyor has remained with that practice (apart from a year or two acting as a ship broker) ever since. He was admitted as a partner in 1980 and is now a director of the reconstituted company MbathaWalters & Simpson. His two sons Anthony (1998) and Lloyd (2000) were lured out of Gillingham to form the first group of Sheffield boarders. Rob has been involved in a number of charitable and community based boards and committees over the years. Kearsney: Rob attended Kearsney from 1962 to 1963 (Gillingham). He served on the Kearsney Board of Governors for 12 years (1992-2004 )and was appointed as a Trustee of the Kearsney College Trust in 2003. He is the current Chairman of the Kearsney College Trustees. . Trustee:Ted Garner Qualification: CA (SA), MBA (Unisa), MSIA (Carnegie Mellon, USA) Career: After attaining his CA,Ted attended Carnegie Mellon University in the United States and Unisa, where he obtained Masters Degrees in Business. The early years of his career were spent owning and managing various small businesses. He then joined The Tongaat-Hulett Group in 1967 and was appointed Financial Director of the Group in 1978. In addition he was Executive Chairman of various Operating Divisions of the Group andVice-Chairman of Triangle Sugar Corporation, in Zimbabwe. During his tenure and under the auspices of the Group,Ted was a director of overseas operations in Luxembourg, Switzerland and London. Locally Ted served as a Director on the SBDC, CBM and NHT of SA. Since his retirement fromThe Tongaat-Hulett Group in 2000 Ted has focussed on business consultancy. Kearsney: He attended Kearsney from 1952 to 1953 (Finningley). He served on the Kearney Board of Governors for 12 years and the Board of the Kearsney College Trustees for twelve years. He chaired both Boards during his tenure. He is an Honorary Life Trustee of the Kearsney Trust.
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