Investment Committee


The Investment Committee is a sub Committee of the Board of Trustees and is comprised of a number of Trustees and independent advisors.  It is advised by a team from Cambridge Associates.

Mr Keith Shepherd (Chair, Trustee)

Keith is a qualified accountant who has specialised for over 25 years in managing and advising on the investment of major institutional portfolios. He has worked in the public, private and charitable sectors, responsible for the investments of various pension funds and endowments. This has involved helping to develop and implement investment strategies and management arrangements appropriate to meet the requirements for a very diverse range of stakeholders. Keith started his career in local government, culminating as Head of Investment and Treasury at the City of Edinburgh Council. From there he went to be the Head of Public Equities at the UK’s largest endowment, the Wellcome Trust. After 5 years he moved to the Railways Pension Scheme, eventually becoming Chief Investment Officer of its investment operation, RPMI Railpen. His most recent role was at the BP Pension Scheme, where he was the Investment Strategy Executive for the Trustee. He now runs his own advisory business. 

Mr Mike Bellamy (Trustee)

Mike grew up in London and graduated from London University.  After teaching in a coed Grammar School for three years he joined the NHS and worked in it for 36 years in London, 18 of which were as a CEO.  He has since been on three NHS Boards in non executive positions, as well as being a Governor on two University Boards.   He has also been a Trustee of various health charities.  He has had a longstanding interest in research and innovation as well as in education and training.  He is Deputy Chairman of the local branch of the U3A and so is very interested in improving the wellbeing of older people. He is also a school governor as well as being a Mental Health Act manager.

Ms Helen Christie (Independent Advisor)

Helen is Senior Client Portfolio Manager for Univest Company (Unilever Plc) and Acting CIO for Unilever’s Canadian and German pension plans. Responsible for the definition, implementation and monitoring of investment strategy for the plans, she has also led the development and implementation of the Environmental, Social and Governance (“ESG”) policy for the Unilever UK Pension Fund and provides investment support to the Leverhulme Trust, a grant-making foundation established by the founder of Unilever for funding research and education scholarships.

Ms Susan Kay (Executive Director, ex offcio)

Sue is a strategic planning and governance specialist having spent the first half of her career in private sector finance, strategic marketing and corporate mergers and acquisitions.  Following a sabbatical to undertake a Master’s degree in science policy and innovation, she has spent the latter half working on the executive board of a number of UK higher education institutions in strategy, finance and planning roles and as a non executive on the Board of a college of further education.  She has most recently combined heading up a national academic network of senior scientists and engineers with being governance lead for a philanthropic almshouse trust. She is a Trustee of the Daphne Jackson Trust.


Mr Eren Osman (Independent Advisor)

 Eren started his career in financial services in 2003; most recently he joined Arbuthnot Latham in 2012. Eren sits on the Tactical Asset Allocation Committee, taking a key role in investment decisions on behalf of the bank’s clients; he is head of Fixed Income and also leads the US Equity research functions. Eren works with a number of private clients, family offices and charities in seeking to deliver the investment objectives via diversified discretionary management portfolios. He holds the IMC and CFA qualifications and a B.A. (Hons) in Economics from the University of West of England. Eren is UK Level 7 Qualified.



Board of Trustees



Research Grants Committee



Community Grants Committee


The Dunhill Medical Trust
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