THE WIGMORE ASSOCIATION – A NEW AGE OF GLOBAL INTERDEPENDENCE - Presentation delivered by Speaker Harold F. “Rick” Pitcairn II, CIO, PITCAIRN, at the IFG Wealth Management Forum Spring 2014 held in Phoenix, AZ

1. Wigmore Association
April 28, 2014

2. Wigmore Association
Progeny 3

3. Outline
• History of Wigmore Association
• Members
• Structure
• Operating principles
• Meetings
• Benefits and examples of collaboration
• Risk and challengesRisk and challenges
• Conclusion

4. History of Wigmore Association
• How did it start?
• Background of members?
• Why it was set up?
• What members were looking for?
• How it has transitioned?

5. Operating principles
• Attendance, contribution
• Collaboration
• Independence
• Optional participation
• Confidentiality
• Non-competitive

6. Semi-annual meetings
Date Host Location
2011 Spring Sand Aire London2011 - Spring Sand Aire London
2011 - Fall Pitcairn New York
2012 - Spring Myer Melbourne2012 Spring Myer Melbourne
2012 - Fall Northwood Toronto
2013 - Spring HQ Trust Frankfurtp g
2013 - Fall Turim Brazil
2014 - Spring Progeny 3 Big Sky, Montana
2014 - Fall Wigmore Singapore
2015 - Spring Wigmore London

7. How the Wigmore Association is structured
• Structure –Association
• Confidentiality agreements
• Meetings 2x per year, various locations
• Bi-monthly conference calls
• Rotating chair
• Criteria for membership

8. Sample speakers
David Denison, President/CEO Canada
Pension Plan Investment Board
• $160 bln pension plan
• Very creative long term investment
Hon. Michael Wilson, Chairman
Barclays Capital Canada
• Former Cdn Finance Minister
• Former Canadian ambassador to
Roger Martin, Dean, Biz school
• Very creative long term investment
fund
• World Bank Advisory Board
• Former Canadian ambassador to
the U.S.
• Represented Canada at G7, IMF,
World Bank
g , ,
University of Toronto
• Top global business school
• #10 most influential business school
professors
Kevin McCann, Chairman
Macquarie Bank
• Leading director in Australia
• Chairman of financial, energy
• #6 top management thinker (Thinkers
50)
Premier,
and steel cos.
Helima Croft, Ph.D., Director,
Australian state
• Private meeting with premier
• Perspective on Australian
politics and economics
, , ,
Barclays Capital
• Geopolitical strategist
• Expert in Middle East, commodities
• Former CIA

9. Benefits of global collaboration
• Global perspective
• Regional expertise
• Manager research sharing
• Asset allocation strategy and other family investment issues
• A contact in each region
• Better info for clients
• Shared due diligence and or co-investingShared due diligence and or co investing
• Exposure to new products and approaches
Marketing• Marketing

10. Examples of collaboration
• Joint meetings with investment managers in each region
• Discussion of key themes, e.g. infrastructure, emerging
markets etc.
L l i t t t E i• Local input on current events, e.g. Eurozone issues
• Each firm brings specific expertise
• Input on investing, structuring and distribution strategy for a
$1+ bln family
C i i C di l f d• Common interest in a Canadian real estate fund

11. Conclusion
• So what?
• Future of MFO advice based model depends on scale and• Future of MFO advice based model depends on scale and
scope