Remuneration Committee report
% of maximum awarded for criteria
% of base salary
% of salary at
Actual for FY24
awarded for these criteria
Category Revenue
Measure
Weighting
maximum Threshold 1
Target 1
Maximum 1
Revenues (£m)
15.00% 22.50%
118.6
126.2
130.0
128.3 2.33
84.8% 19.07%
Flows
Gross flows (£bn)
7.50% 7.50%
11.25% 11.25%
2.4
2.7 0.0
3.1 2.5
0.0% 0.0%
0.00% 0.00%
Net flows (%)
(2.5)
(5.2) 34.1
Profitability
Underlying PBT (£m)
15.00% 22.50%
27.6 22.0 84.0
31.4 25.0 75.0
33.3 26.5 70.5
100.0% 22.50%
Margin and operating efficiency
Underlying PBT margin (%) Cost/income Ratio (%)
7.50% 7.50%
11.25% 11.25%
26.6 73.4
100.0% 78.5%
11.25% 8.83%
Total
60.00% 90.00%
68.50% 61.65%
1 33.3% of maximum is payable for Threshold performance, 66.7% of maximum for Target performance and 100% of maximum for Maximum performance.
Whilst the Committee has the discretion to adjust the final outcome to take account of overall performance and exceptional events, no discretion has been applied to the outturns of the financial metric calculations. The Committee considers that the Remuneration Policy has operated as intended in delivering appropriate incentive compensation relative to Company performance and 68.5% of maximum opportunity was approved as the financial
outturn for both the CEO and the Chief Financial Officer.
Performance against financial criteria (60% of overall opportunity) Financial performance delivery was strong across revenue, profitability, and margin and operating efficiency measures with the outturn for each category being above target. However, underperformance across both flows measures, where neither outturn met threshold performance, moderated the overall financial outturn to an on target assessment, (see table):
The award of 61.65% of base salary for financial objectives, reflects a reduction of 1.4 percentage points or 2.3% decrease on the 63.1% of executive director salary awarded for FY23 financial performance. This rate of reduction is highly correlated to the year-on- year rate of change in underlying profit before tax delivered of 12.1%.
84 Brooks Macdonald Group plc Annual Report and Accounts 2024
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