CEO Pay Ratio reporting: introduction, implementation and predicted impact The “CEO pay ratio” has become a hot topic after the introduction of new legislation demanding UK incorporated companies listed on the FTSE, NYSE and NASDAQ with over 250 employees to disclose in their directors’ remuneration reports the ratio of their CEO’s total pay to the…

February 28, 2020 Read more >

There is a seemingly strong belief, particularly from Government, that the best way to make change is to do so through the use of “nudge” – influencing the behaviours of those organisations at “the top” to impact upon a wider group. A recent survey by the organisation Company Matters prompted us to consider the interesting…

February 28, 2020 Read more >

Some issues with the growing pressure from Investors for Management Teams to have larger and larger amounts of skin in the game, both in listed and private equity situations The Principles of Remuneration that were published by the Investment Association (the “IA”) in November 2019 include the following words: “Executive directors and senior executives should…

February 28, 2020 Read more >

Taking a listed company private – implications for executive pay and governance More and more companies are shunning listed status. Recent research has shown that the number of take private deals in 2019 was 40% higher than in 2018. Aggregate deal value increased from £9.9bn to £21.1bn. Whilst the big deals grabbed the headlines (Advent’s…

February 28, 2020 Read more >

Revised Stewardship Code sharpens the focus on ESG factors The UK Stewardship Code forms part of the FRC’s mission to promote transparency and integrity in business. The 2020 version of the Code was published by the FRC earlier this month. Under the Code, it is incumbent on asset owners and asset managers to disclose how…

January 30, 2020 Read more >

2020 MM&K / GECN Global Research In 2019 MM&K, together with our partners in the GECN Group (Global Governance and Executive Compensation Group) researched the Global Trends in Corporate Governance – investors perspective. The outcomes of this research are present in the Executive Summary (click here to request a copy). 25 global investors were interviewed…

January 29, 2020 Read more >

The FRC’s annual review of reporting, following 2018 changes to the UK Corporate Governance Code shows the quality of reporting has been mixed. In this article we analyse key elements of the FRC review The 2018 UK Corporate Governance Code that applies to accounting periods beginning on or after 1 January 2019, is designed to…

January 28, 2020 Read more >

What insights into effective business practices are coming out of the QCA review of Good Governance on AIM? MM&K are members of the Quoted Companies Alliance (“QCA”) and sit on both the Corporate Governance and Share Schemes experts group.  Here are four insights coming out of the recently published AIM Good Governance Review. 1) There…

January 23, 2020 Read more >

European PE Activity in 2019 It appears that 2019 was another very good year for the European Private Equity Industry.  The year set a new annual record for European PE fundraising with €86bn raised across 89 fund entities. The year was also a good year for PE deal activity which in value terms was the…

January 22, 2020 Read more >

Annual Conference sees the GECN emerging as a stronger independent global compensation and governance adviser The sixth Annual Conference of the Global Governance and Executive Compensation Group (GECN) took place in Zurich from 6 to 8 January, hosted by Swiss-based group member, HCM International. The GECN is a group of five independent advisory firms specialising in…

January 13, 2020 Read more >

With the majority of parties now having published their manifestos, what clues do they contain as to the future direction of corporate governance and executive pay in the UK? This article is strictly apolitical – as countless polls have shown, it is impossible to predict how an election will be decided. However, irrespective of who…

November 25, 2019 Read more >

MM&K and its partner firm in the US, Holt Private Equity Consultants, have published their 2019 Survey Reports on Compensation in the UK and North American Private Equity and Venture Capital Fund Management industries. Nigel Mills reflects on some of the key findings in the Reports with regard to pay levels on both sides of…

November 25, 2019 Read more >