Board overview
The Brooks Macdonald Board is responsible for the Group’s corporate governance system and is committed to maintaining a strong governance framework to support our mission to protect and enhance our clients’ wealth. In order to achieve this, the Board meets on a regular basis. During the year to 30 June 2024, there were eight scheduled Board meetings and details of attendance at these is shown on page 68. In addition, further unscheduled meetings may be convened where necessary to consider matters that are time-sensitive in nature and cannot wait until the next scheduled meeting. Historically, subjects have included acquisitions, Director changes and the Group’s response to the COVID-19 pandemic. Assessing and monitoring culture The Board monitors the Group’s culture through regular reports from the CEO and the Chief People Officer to ensure this is aligned with the Group’s purpose and strategy. In addition, we have a designated Non- Executive Director, who has responsibility for engaging with the workforce and who regularly holds meetings with different members of staff. Other Non-Executive Directors have also held informal meetings with employees from across the business to help the Board better understand the views of the Group’s staff. The results of the Group’s regular staff surveys are also reviewed and discussed at Board meetings. For further information on this, see ‘How we engage with our stakeholders’ on pages 21 to 25 and our Responsible business report on pages 44 to 52 of the Strategic report.
Matters discussed by the Board in the year
Strategy • Business structure • Strategy refresh • M&A • Acquisition integration
Governance and regulatory • Board changes • Reviews of
Projects • Consumer Duty • TCFD • Partnership with SS&C
Financials • Annual and
Regular updates • CEO’s report, including business performance • Chief Financial Officer’s report • Co-Chief Investment Officer’s report • Chief People Officer’s report • Committee Chairs’ updates
Interim Report and Accounts
Committee terms of reference
• Dividend payments
recommendations
• AGM
arrangements • SMCR regime • Board effectiveness review • Modern Slavery statement • ICARA review • CASS
• Budget and
medium-term plan
Director training and induction
Annual Board evaluation The Board undergoes an annual evaluation of its performance. Further details of this are set out in the Nomination Committee report on pages 75 to 77.
Training is provided for Directors on an ongoing basis. During the year, the Board received training on the AIM rules and regulations and climate risks and opportunities, among other matters. External appointments Directors are only permitted to take on external appointments with the approval of the Board. Such approval will only be given where the appointment will not impact on the Director’s ability to devote sufficient time to their responsibilities with the Group. The Board did not consider that any new appointments taken on during the year raised an issue in this respect.
On appointment to the Board, new Directors are given a comprehensive induction programme. This allows them to familiarise themselves with the Group’s business, policies and key issues. The induction programme is tailored to the individuals concerned and involves meetings with key individuals within the Group, as well as external advisers to the Company. Singer Capital Markets, the Group’s NOMAD, also provides an overview of the Directors’ responsibilities as a Board member of an AIM-listed entity.
66 Brooks Macdonald Group plc Annual Report and Accounts 2024
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