The Board of Capital Gearing Trust P.l.c announced the appointment of Karl Sternberg as an independent non-executive Director of the Company, with effect from 5 September 2024. Sternberg is Chairman of The Monks Investment Trust plc, Clipstone Industrial REIT plc (listed in the Channel Islands), and Apax Global Alpha Limited, and a Non-Executive Director of Jupiter Fund Management plc and Howard de Walden Estates. Sternberg was a founding Partner of institutional asset manager Oxford Investment Partners, which was acquired by Towers Watson in 2013.

Prior to that, he held a number of positions at Morgan Grenfell/Deutsche Asset Management between 1992 and 2004 including Chief Investment Officer for London, Australia, Europe and the Asia Pacific. Since 2006 he has developed his non-executive director career, with a focus on investment management and the investment trust sector in particular. From 2010 to 2015 he was a Non-Executive Director of Friends Life Group plc where he was Chairman of the Investment Oversight Committee.

He was Chairman of JPMorgan Income & Growth Investment Trust plc until November 2016 and the Senior Independent Director of Alliance Trust PLC until December 2021. He was a Non-Executive Director of Lowland Investment Company plc until December 2021 and of Herald Investment Trust plc until April 2024.