The roller-coaster that was 2020:  The FTSE100 index entered 2020 at 7,542.40.  By the start of the first lockdown in March, it had dropped to 4,993.90, a fall of nearly 34%.  At the time of writing, the FTSE has risen to 6,572.18, up nearly 32% but still almost 13% below where it was at the…

December 22, 2020 Read more >

Introduction In July this year, the Chancellor, Rishi Sunak asked the Office of Tax Simplification (OTS) to carry out a review of Capital Gains Tax (CGT) to ‘identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour or do not meet their policy intent.’ Publication of…

November 27, 2020 Read more >

In this article, we review a recent report published by the QCA in conjunction with Henley Business School entitled “ESG in Small and Medium-sized Quoted Companies: Perceptions, Myths and Realities”. ESG (which to remind readers stands for “Environmental, Social and Governance”) has received huge coverage recently, which may have worn the patience of many readers…

November 27, 2020 Read more >

Our April newsletter included an article on restricted share schemes, in particular making reference to research from the Purposeful Company (published at the end of 2019) suggesting that a growing body of investors are willing to consider alternative remuneration structures (to the standard LTIP), if the Remuneration Committee can argue the strategic benefits of adopting…

November 27, 2020 Read more >

Whether or not you are a December year-end business, the unprecedented year that 2020 has become means that we think all businesses need to a have a good look at their remuneration policies and practices before heading into the New Year. “Making good promises” Did entry into “lockdown” cause you to make hard decisions regarding…

November 27, 2020 Read more >

MM&K and Holt Private Equity Consultants have recently published the results of the North American PE Compensation Survey.  This survey is the sister survey of our European PE and VC Compensation study.  The results from the North American survey make for interesting reading. The survey analyses compensation data from 126 fund management entities. They provided…

November 27, 2020 Read more >

A Non-Executive Director or NED is a member of the board of directors but not a part of the executive team. NEDs are external or independent directors who help the company to achieve its full potential through guidance and governance. In these strange times it is of the utmost importance for these key members of…

October 29, 2020 Read more >

We are delighted to announce that we have just published our latest MM&K PE/VC Compensation Report which sets out our findings from our 2020 survey of the UK and European private equity, venture capital, infrastructure and real estate fund management industries. The survey covers both short-term and long-term aspects of pay and incentive practice in…

October 29, 2020 Read more >

Back to the basics – what are share plans? Share plans are means for companies to reward employees. Most often, these plans are established to improve motivation and boost productivity, by giving employees a stake in the company or share options. The more profitable the company gets, the more likely it is that employees will…

October 29, 2020 Read more >

Given the nature of our business, it will be unsurprising that we think share plans have an important role to play for companies weathering the current economic storms.  However, this view has been reaffirmed by the recent release by HMRC of research it commissioned into share plans.  The research was conducted independently and amongst its…

October 29, 2020 Read more >

In light of the deepening effect of COVID-19, here are some thoughts designed to help remuneration committees as they turn their minds to bonus awards for 2020 and performance metrics for both short- and long-term awards in 2021. Annual bonus awards for 2020 Performance measures and targets for 2020 will have been set at the…

October 29, 2020 Read more >

We had hoped for better news on the COVID front but are not surprised by the way things have turned out or by the action the Government has taken to curb the rise in cases. At least working from home is no longer the unknown quantity it was back in March. We miss the inter-personal…

September 29, 2020 Read more >