Strategic Report
Governance Report
Financial Statements
Company Financial Statements
Annual report on remuneration Activities of the Committee during the year
Overview of operation of Remuneration Policy during the financial year
increases and annual bonus and share award recommendations, including assessment and approval of all annual bonus and LTIP performance criteria. • Review and approval of any risk adjustment rationales and reductions, proposed for any employee. • Review and approval of all new hire remuneration package proposals for Executive Committee members and other Material Risk Takers, including offers to the Group Marketing and Communications Director, Group Director of Distribution, and Chief Operating Officer during the reporting period. • The review and approval of all material guaranteed variable compensation offered to new hires, including share awards made in relation to businesses acquired during the reporting period. • Review and approval of the FY25 Annual Remuneration Report. • Completion of the required regulatory governance activities including the review of the Group’s remuneration policies against MIFIDPRU and UK Corporate Governance Code requirements. Specific activities include: review of the Group’s Remuneration Policy Statement and Malus & Clawback Policy, revalidation of the Group’s MIFIDPRU Code classification (non-SNI that is not significant); approval of the fixed and variable components of pay offered by the Group, including revalidation of the Group’s maximum variable to fixed pay ratio; re-testing of the Group’s Material Risk Takers (“MRT”) identification criteria; review of the risk adjustment matrix; as well as the setting of cash and share-based incentive funding levels for the reporting period). • Monitoring of external developments and remuneration trends in the wealth management sector and executive pay trends more generally.
Chief Executive Andrea Montague
Chief Financial Officer Katherine Jones
During the reporting period the Committee reviewed, monitored and oversaw the planned changes to, and effective implementation of, the Group’s remuneration policies, ensuring continued compliance in the changing listing environment and the delivery of fair outcomes for shareholders. Key activities of the Committee during the year have included: • Examination of findings and oversight of actions in relation to the external audit of the Group’s remuneration policies conducted by the EY executive compensation team during the reporting period. • Review and approval of an overarching financial advisor incentive plan, bringing the Group’s existing and newly acquired
Base salary
£460,000
£375,000
Pension and ancillary benefits Short-term incentive plan
Pension contribution equal to 6% of salary – aligned to the wider workforce Taxable benefits relate to the provision of medical insurance benefit
• Max: 150% of salary • Outcome: 79.0% of maximum
• Max: 150% of salary (prorated to date of appointment) • Outcome: 79.0% of maximum
• Performance conditions: Gross revenues (20%), net (organic) flows as a % of opening FUM (20%), underlying PBT (6.6%), underlying PBT margin (6.6%), cost/income ratio (6.6%), and non-financial strategy, client, people and risk objectives (40% in total) • Structure: one-third deferred into shares over three years, pro-rata vesting 2024 LTIP grant • Annual grant: 200% of salary • Performance conditions: Underlying diluted EPS (50%), FUM growth (35%) and ESG factors (15%) • Structure: 3-year performance period, cliff vesting and 2-year holding period 2022 LTIP vesting • No awards held by incumbent Directors
Long-term incentive plan (“LTIP”)
financial advisor populations onto a common incentive framework and opportunity basis.
• Review and development of proposed changes to the Directors’ Remuneration Policy, prompted by the Group’s progression from the AIM to the Main Market of the LSE, including a more detailed explanation of leavers’ provisions and the addition of a post- employment minimum shareholding requirements policy. • Review and approval of the type and composition of executive director variable incentive performance measures, along with their associated target ranges, ensuring continued alignment to the Group’s evolving strategic priorities. • Review and approval of all Executive Director and Material Risk Taker salary
Minimum share ownership guidelines
• 200% of salary
Brooks Macdonald Group plc Annual Report and Accounts 2025
81
Made with FlippingBook - professional solution for displaying marketing and sales documents online