Hipgnosis Songs has appointed two former Round Hill music directors to its board.
Intuitive Investments Group CEO Robert Naylor has been appointed as board chair.
He was most recently non-executive chair of Round Hill Music, the only other AIC music royalty trust, prior to its sale to US firm Concord.
With over 25 years industry experience, Naylor has also held roles at JP Morgan, Panmure Gordon and Cenkos Securities.
Meanwhile, Francis Keeling has been named non-executive director.
He held a similar role on the Round Hill board, having previously served as global head of licensing at Spotify. He was also global head of digital business for Universal Music Group for almost a decade.
Sylvia Coleman, senior independent director of Hipgnosis Songs, said: “On behalf of the Board, we are delighted that Robert and Francis have agreed to join Hipgnosis Songs Fund.
Robert and Francis’s appointments follow extensive engagement with shareholders, and their experience and knowledge working with investment companies, most notably at Round Hill Music Fund, will be invaluable to Hipgnosis as we look ahead to the next chapter.”
The announcement comes a day after the trust announced it will not declare dividends before its new financial year.