Strategic Remuneration, Governance & Incentive Plans
Private Equity & Alternative Investment Fund Managers’ Remuneration & Incentive Plans
Global executive remuneration and governance advice
A close alliance of six independent advisory firms specialising in executive remuneration, performance and governance, the GECN Group pools its considerable resources to serve clients in more than 30 countries through offices in North America, Continental Europe, the United Kingdom, Asia, Australia and Africa.
What We Do
We are a leading independent consultancy specialising in the planning, design, and implementation of business-driven pay and reward strategies.
Our areas of expertise include executive compensation, employee share plans, corporate governance, business management, valuation and statistics.
We have specific sector experience as follows:
- Alternative investment firms (family offices, venture capital, private equity, infrastructure funds)
- Portfolio companies
- Oil & gas
- Renewable energy
- Family businesses quoted or private companies undergoing change, e.g. IPO, acquisition, strategy change
We provide the following core services: Executive Remuneration, Private Equity Remuneration, Pay Surveys, and Share Plans. Our multi-disciplinary approach to remuneration is always tailored to individual client requirements.
Latest NewsSign-up to our newsletter
MM&K’s 2021 Life in the Boardroom survey report will contain details of those issues which Chairs and NEDs tell us are of most interest…
Last month, in preparation for the launch of the 2021 survey, we launched a mini-questionnaire to ensure we continue to provide the most comprehensive insights on the key issues facing boards today.
What changes should be made to the EMI legislation to allow more companies to take advantage of this attractive form of management incentive?
In March this year HM Treasury issued a Call for Evidence on the effectiveness of Enterprise Management Incentives (EMIs) in fulfilling the Government’s policy objectives of helping Small and Medium Enterprises (SMEs) recruit and retain employees.
2021 – 2022 MM&K / GECN Group research – the role of ESG factors in global executive remuneration
Last year, we researched and identified global trends on the inclusion of ESG factors in global executive incentive plans. This year, our research will focus on how these trends are developing. The 2021-2022 research will re-examine the ESG metrics adopted by companies comprising the leading global indices in connection with their executive remuneration policies.
Investors have been on the remuneration warpath again in this year’s AGM season but is there more to it than pay?
The 2021 AGM season has been notable for a spate of high-profile challenges to executive remuneration policies. We may be witnessing an attitudinal shift in society as a whole, and among investors in particular, the effects of which have yet to be fully appreciated by companies.
FRC review of UK Corporate Governance code – and what it may mean for all companies going forward
The FRC recently published a review of the impact of the changes to the UK Governance Code to remuneration reporting. The findings were mixed and open some questions for what might happen in 2021 and beyond.
Meaning of “fair value” of shares in a private company on compulsory transfers
In a recent decision, the high court has held that a discount should be applied when determining the “fair value” of a minority shareholding in subject to compulsory transfer in a private company.
Life in the Boardroom 2021 MM&K’s exclusive survey of Board Chairs and NEDs
For 26 years MM&K has conducted this valued survey which provides participants with a comprehensive report containing insights on board practices, time commitments, pay and other board issues. It is unique as data is collected directly from Directors themselves, rather than from company staff or annual reports. This provides a more accurate picture from the people who experience it first-hand.
Private Equity & Venture Capital Compensation Survey
MM&K has launched its 26th annual Compensation Survey for the European Private Equity and Venture Capital Industry. This survey provides participating firms with market leading, detailed information on both the quantum and structure of pay in the European PE, VC, Infrastructure and Real Estate fund management industries. In the survey we collect data on base salaries, benefits, annual bonuses and carried interest plan participation, plus details on a large number of other people and reward issues.
London Stock Exchange
MM&K are proud members of London Stock Exchange Issuer Services. Tom Hinton, Head of Issuer Services, and MM&K’s CEO, Paul Norris discuss trends in directors’ remuneration and how they have evolved over recent months. Paul discusses recent developments on ESG and the challenges some of our clients are facing, along with the impact of increased regulation and the effect on executive roles along with how the role of NEDs is evolving.
News & Publications
We publish monthly newsletters on Remuneration and Share Plan related matters. If you would like to receive copies of our news & publications please sign up.
Meet The Team
MM&K’s team is multi-disciplinary, bringing together consulting, advisory, legal, accounting, analytical and modelling skills. View the full team page to find out more.
If you would like to get in touch and find out more about MM&K, their services and the team please click the link below.
“Congratulations on a thorough and insightful survey. It fills in something of a gap in coverage of the numerous publications from the large firms in the remuneration consulting space.”
– Alan Giles, Chairman, Remuneration Consultants Group
“I was recommended to MM&K by an old colleague as the leading remuneration advisers in London with a detailed understanding of and experience with the design of remuneration structures in the alternative investment management arena.
I needed help with the introduction and detailed design of a carried interest plan for my team of investment professionals in a mid-market private equity fund management house that my business is heavily invested in. I certainly found them very knowledgeable, impressively responsive and tremendously helpful in guiding me through the various different structures and mechanisms that are typically used in carried interest plan arrangements.”
– CEO of UK based Family Office, January 2020
“When we needed to review our remuneration arrangements, we spoke with a number of potential advisers but MMK stood out with their detailed understanding of and experience with the design of remuneration policies in private equity fund management businesses.
As a premium listed company on the London Stock Exchange, we needed comprehensive advice from a firm that understood both the corporate governance requirements for a fully listed company as well as the design of remuneration structures and policies in PE fund management businesses. We needed advice on salary levels, bonus plan metrics and LTIP design.
We found that MM&K had a detailed knowledge of the PE industry and its remuneration structures. They also understood the requirements that we needed to comply with as a fully listed company. They were diligent in their market research and advice and efficient in steering us through this important journey including helping support our shareholder consultations. We have ended up with accomplished remuneration arrangements that were approved by our shareholders.”
– Graham Stedman, Remuneration Committee Chair of LMS Capital plc
“MM&K are that rare breed, people who actually take the time to understand the business and give executive remuneration advice which is practical, commercial and eminently sensible from the start.”
– Simon Bennett, Founding Partner, Incremental Capital LLP
Life in the Boardroom
MM&K has conducted this Chairman and Non-Executive Director Survey (Life in the Boardroom) for 26 years. It is unique as data is collected directly from Directors themselves, rather than from company staff or annual reports. This provides a more accurate picture of board practices and pay.