About Us

Our Values

Everything we do is underpinned by a clear set of values:


We are free of any conflicts of interest when dealing with pension funds, consultants and other financial services organisation. We believe that independent evaluation is essential when evaluating and monitoring investment consultants and fiduciary managers. As we do not compete with the firms we research they are willing to share detailed information with us which would otherwise not be the case.


We are the only UK organisation to focus solely on the selection and monitoring of investment consultants and fiduciary managers. This enables us to concentrate fully on developing the research depth and methodologies necessary to understand this complex area.


We have developed new approaches and solutions to assist pension funds assess their investment consultants or fiduciary managers and enhance their own decision making. We are constantly refining and customising these approaches to meet the specific circumstances of each client.


Our work delivers objective and detailed evaluation of consultants and fiduciary managers to our clients. Consequently our clients can be confident they are appointing and working with the most appropriate consultant or fiduciary manager for their needs.

Raison D'etre

It has been recognised for many years that the importance of the investment consultant or fiduciary manager to the long term performance of a pension scheme dwarfs the importance of any of its fund managers. It is therefore surprising, that at many schemes, the level of due diligence undertaken to select the investment consultant or fiduciary manager is not as robust as the due diligence undertaken to select a fund manager. Often trustees do not use any external advisers and, when they do, these advisers may not be specialists in this area, often with their core competency in pension administration.

IC Select has been established to ensure the necessary expertise to ensure that the most appropriate investment consultant or fiduciary manager is selected. An effective selection should lead to enhanced performance with improved risk control in the longer term. This will result in more stable contributions and a reduction in scheme deficits.

Our People

Roger Brown
Roger BrownFounder & Directorroger@ic-select.co.uk

Roger is the Founder Director of IC Select. He has 38 years’ investment experience. For the last 16 years of his career he has specialised in the oversight, assessment and selection of investment advisers and fiduciary managers.

His earlier career was in fund management where, he held senior positions as head of strategy, head of equity investments and latterly as a main board director of a major fund management company. He has a degree in Mathematics and Economics from Durham University.

Peter Dorward
Peter DorwardManaging Directorpeter@ic-select.co.uk

Peter is the Managing Director of IC Select having joined the business in October 2014. Prior to this, and for the last 20 years, he held senior positions with a major fund management company, latterly as head of the institutional business.

Peter has over 35 years’ experience in investment management and broader financial services in the UK and overseas. He chairs the Royal London Independent Governance Committee and has an MBA from Edinburgh Business School, Heriot Watt University.

Donny Hay
Donny HayDirectordonny@ic-select.co.uk

A pensions and investment professional with 30 years’ experience of investment markets, fiduciary management and working with pension schemes. His recent experience, prior to joining the business in 2018, both as a professional trustee and working in fiduciary management, provides an insight into the current thinking and actions of UK pension funds and investment consultants.

He is a qualified chartered accountant, who has held senior positions across pensions and investment firms and brings a commercially pragmatic, strategic mind-set to problem solving.

John Paterson
John PatersonDirectorjohn@ic-select.co.uk

John is a pensions and investment professional with over 30 years’ experience in a combination of actuarial work, investment strategy development and client relationship management.

Starting in actuarial research and moving to client facing roles in investment consultancy and actuarial services firms, John is working with our analysts to deepen our research insights, as well as assuming client responsibilities. John joined IC Select in June 2019.

Anne-Marie Gillon
Anne-Marie GillonDirectoranne-marie@ic-select.co.uk

Anne-Marie joined IC Select in May 2020 having previously worked for over 20 years as an investment professional at a leading asset manager, the last 12 of these as a fixed income and multi asset product specialist. As a trustee herself she understands first-hand the intricacies and challenges that pension schemes face. Anne-Marie is a CFA charterholder.

Ray Martin
Ray MartinDirector ray@ic-select.co.uk

Ray retired from full-time pensions management in November 2019 following a career spanning forty years. As well as working part-time for IC Select, he acts as an independent trustee to several pension arrangements in both the private and public sector. He has practical experience of managing pension arrangements in over 70 countries. He spent 17 years on the Board of the UK National Association of Pension Funds, during which time he chaired the Investment Council. In 2013, he was voted Pensions Personality of the Year by the Professional Pensions magazine and was also named Pension Manager of the Year by Engaged Investor Magazine.

Ceri Tracey
Ceri TraceyAnalystceri@ic-select.co.uk

Ceri is an Analyst for IC Select. She joined the company after graduating with a degree in Mathematics from Heriot Watt University in 2017 and holds the Investment Management Certificate (IMC).

Nathaniel Lock
Nathaniel LockAnalystnathaniel@ic-select.co.uk

Nathaniel is an Analyst for IC Select. He joined the company in 2019 after graduating with a degree in Chemical Engineering from Edinburgh University and holds the Investment Management Certificate (IMC).

Jenkins Akutey
Jenkins AkuteyAnalystjenkins@ic-select.co.uk

Jenkins is an Analyst for IC Select. He joined the company in 2019 after graduating with a degree in MA(Hons) International Business and Finance from the University of Dundee and is currently an Investment Management Certificate (IMC) candidate.