Holt Private Equity Consultants, MM&K’s allied firm in the US for Private Equity compensation matters, recently published the results of its North American PE Compensation Survey.  This survey is the sister survey of our European PE and VC Compensation Survey.  The results from the North American survey make for interesting reading. The survey analyses compensation…

February 27, 2019 Read more >

Whether you are a well-established organisation or still in early stages, it is important to make sure that the long term elements of your executive and key personnel remuneration are working properly for your business. Whilst establishing whether or not this is the case will take some time and discussion, it is important for anyone…

February 27, 2019 Read more >

Enterprise Management Incentives and Brexit Like any EU member state, the UK is subject to the ‘state aid regime’ regarding competition law, governed by the Treaty on the Functioning of the European Union and associated European legislation. These rules are in place to ensure open and fair competition and to prevent subsidies causing unfair distortions…

February 27, 2019 Read more >

Labour Party policy input on executive remuneration In November 2018, John McDonnell, Shadow Chancellor, published a review he had commissioned from a group of 13 academics into the thorny subject of executive pay.  The review is described as “independent” but the intellectual allegiance of the contributors is evident in the title: “Controlling Executive Remuneration: Securing…

February 26, 2019 Read more >

Please click here to read an overview of the evening in which the theme for discussion was: “Could Remuneration Committees take a more active approach to gaining the high ground on executive pay?

February 26, 2019 Read more >

Might EVA be making a comeback? Economic Value Added (EVA) was a popular financial measure in the 1990s, used by many major companies as well as investment analysts.  Interest in EVA has recently re-emerged as a result of the acquisition of EVA Dimensions by Institutional Shareholder Services (ISS) last year. EVA is defined as: EVA…

February 25, 2019 Read more >

FRC strengthens Stewardship Code The Financial Reporting Council has published a consultation paper on a new Stewardship Code that sets substantially higher expectations for investor stewardship policy and practice.  The proposed changes call for higher transparency regarding institutional investors’ stewardship activities and encourages more engagement with issuers (ie companies).  The FRC and the FCA have…

February 22, 2019 Read more >

Companies’ social purpose Over the last few years we have seen companies come under increasing scrutiny from the public, media and politicians.  In response, we have seen a new Corporate Governance Code, new disclosure regulations and extra requirements for investors.  One theme that has emerged is a new emphasis on companies’ social responsibility.  This trend…

February 20, 2019 Read more >

Update on the changes announced in the Budget to the rules for entrepreneurs’ relief and their impact on employee incentives Introduction In the Autumn Budget, the Chancellor had announced that the definition of ‘personal company’ for the purposes of ‘entrepreneurs’ relief’ for capital gains tax purposes would be tightened so that, with effect from 29…

January 30, 2019 Read more >

Executive Director Pensions and Post-Employment Shareholding Our December e-news described the new Investment Association (IA) Remuneration Principles published on 22 November 2018.  On 23 January 2019, the IA announced the specific approaches which IVIS will take at AGMs in 2019 on two of its new requirements: Executive Director Pensions and Post-Employment Shareholding Periods.  These apply…

January 24, 2019 Read more >

New Financial Reporting Lab report on Performance Metrics – what Remuneration Committees should take away The Financial Reporting Lab was launched in 2011 to provide an environment where investors and companies can come together to develop pragmatic solutions to today’s reporting needs. The Lab has worked with 65 different companies, 60 investment organisations and over…

January 22, 2019 Read more >

“MM&K continues to develop its global reach” Between 4th and 7th January, Paul Norris and Nigel Mills attended the fifth Annual Conference of the Global Governance and Executive Compensation Group (“GECN”) in Sydney. The GECN is a group of independent firms, whose logos appear below, specialising in advising corporate clients on executive compensation and good…

January 10, 2019 Read more >