Paul Roy, a highly successful figure in investment banking, and owner of several top-class racehorses including St Leger winner Sixties Icon, Wilko and Dutch Art, has been appointed as Chairman-designate of the British Horseracing Authority (BHA), Racing’s new governing body.
Roy, 59, will lead BHA for a three-year term when it begins operation in early 2007. BHA will combine the British Horseracing Board’s (BHB) governance responsibilities and the regulatory functions of the Horseracing Regulatory Authority (HRA).
He said today: “The launch of BHA is a great opportunity for Racing and I am honoured and excited at being its first Chairman. My role is to help BHA to build on the strengths of BHB and HRA, which have contributed to the sport’s excellent reputation both at home and internationally, and to bring the two organisations together.
“Racing is a passion for millions of people, myself included. I want BHA to create an environment in which all sectors of the sport work together for the common good and for the organisation itself to make a mark by leading dynamically and effectively.”
The process for the recruitment of the BHA Chairman has been overseen by a Nominations Panel comprised of Robert Hughes (Chairman, Horserace Betting Levy Board), John Bridgeman (Chairman, HRA) and Martin Broughton (Chairman, BHB) and the appointment has been ratified by the four Members of BHA.
Robert Hughes said: “Paul Roy is the right man to be the first BHA Chairman. He has an outstanding professional record, impressed us with his enthusiasm for the sport and I am sure will bring a fresh and independent approach to the role. I’m looking forward to working closely with him at this key time in the industry’s history.”
Martin Broughton said: “The role of Chairman of BHA will be challenging but Paul will be more than able to meet the challenge. He brings all the qualities we were looking for – outstanding leadership skills in a regulated industry, a passion for racing and he’s a new face in Racing’s administration.”
John Bridgeman added: “I’m delighted that Paul has accepted the role. We share a great interest in equine welfare I know that he is committed to ensuring the highest standards of integrity in our sport.”
Pictures of Paul Roy are available on request from [email protected].
1. Paul Roy factfile
Name: Paul David Roy
Date of birth: 8th May 1947
Married: 1985 to Susan; five sons, one daughter
Educated: Liverpool University (BA in Economics)
Over 30 years in the investment banking and securities industry, most recently as a founder, in 2003, of NewSmith Capital Partners, an independent investment management firm. Paul was previously Chief Executive of Smith New Court plc and following the merger in 1995 joined Merrill Lynch. Having been head of Merrill Lynch Global Equities division from 1999 to 2001, he subsequently became co-President of its Global Markets and Investment Banking Division, with responsibility for Merrill Lynch’s worldwide Investment Banking, Debt and Equity Markets businesses.
Non-executive director, Benfield plc; Vice President Philip Leverhulme Equine Hospital
• Twelve horses in training, all but one with Jeremy Noseda. The other, Dutch Art, is with Peter Chapple-Hyam
• All horses run in the name of wife Susan
• The Roys have a small home breeding operation, with the first crop of two-year-olds racing in 2006
• Interested in racing since childhood when his father, a butcher, moved the family to a house near Tattenham Corner
Best horses in training
• Sixties Icon (winner, 2006 Ladbrokes St Leger)
• Wilko (winner, 2004 Breeders’ Cup Juvenile)
• Sarava (winner, 2002 Belmont Stakes)
• Majors Cast (runner up, 2006 Juddmonte Lockinge Stakes)
• Dutch Art (winner, 2006 Shadwell Stud Middle Park Stakes and Darley Prix Morny)
Art, golf, tennis, fishing
2. The British Horseracing Authority
The BHA will come into being on or soon after 1st January 2007, combining the governance responsibilities of BHB with the regulatory functions of HRA. The BHA will have a board of eight directors, including the Chairman and the Chief Executive. The recruitment process for the latter role is underway but it was intended that the BHA Chairman would be appointed first so as to be able to play a part in selecting the Chief Executive.
The roles of BHA Chairman and Chief Executive were advertised publicly earlier in 2006 and a specialist executive search company, Nolan Partners, was also engaged. The Chairman’s role was specified as a two-day a week position with remuneration of c.£100,000 per annum.