Remuneration Committee report
Non-Executive Director remuneration for the financial year ending 30 June 2025 The annual review of Non-Executive Director fees to be paid for the FY25 reporting period concluded that no changes would be made to the Chair fee, Senior Independent Director fee, Committee Chair fee or Investment Committee any Non-Executive Director fee component for the reporting period. Confirmation of the change in fee structure between FY24 and FY25 is shown in the below table. Pension All Executive Directors and employees of the Group currently receive the same employer pension benefit of 6% of base salary. The Group regularly reviews the competitive positioning of the pension benefit it offers.
Votes received on the Directors’ Remuneration Report at the 2023 AGM
In the event any change is made to the level of pension benefit offered, the new rate of benefit would apply to both Executive Directors and all employees. Compliance with the FCA Remuneration Code (SYSC19.G) The Remuneration Committee reviews the Group’s remuneration policies and practices against the requirements of the MIFIDPRU Remuneration Code on an annual basis to ensure that the policies and the way in which they are implemented remain appropriate and proportionate to the nature, scale and complexity of the risks that exist in the Group’s business model and activities.
Votes against
Votes for
%
%
Approval of the Directors’ Remuneration report
12,954,381
97.92% 275,603
2.08%
term interests and outcomes of the Group’s employees, customers and shareholders; • ensure that remuneration is set at an appropriate level, taking into account market rates and best practice; • ensure the ratio between fixed and variable remuneration is appropriate and does not encourage excessive risk-taking; • manage and mitigate any identified conflict of interest; • be consistent with and promote sound and effective risk management; and • comply with all regulatory requirements.
Directors’ Remuneration Policy
The Directors’ Remuneration Policy (the “Policy”) is determined by the Committee.
Remuneration Policy principles The Policy is designed to: • provide a ‘pay for performance’ framework to attract, motivate, retain and reward employees; • align remuneration outcomes with the delivery of our business strategy, objectives, Guiding Principles and long-
FY25 £’000 220.0
FY24 £’000 220.0 210.0
Change in fees
Chair fee1
0.0%
–
Acting Chair fee2
–
70.0 12.5 12.5
Non-Executive Director base fee Senior Independent Director fee
67.5 12.5 12.5
3.7% 0.0% 0.0% 0.0%
Committee Chair fee
5.0
Investment Committee attendance fee
5.0
1 The Chair fee was increased from £210k to £220k with the appointment of Maarten Slendebroek part way through FY24.
2 The Acting Chair ceased to be payable when Richard Price resigned from that role in March 2024.
94 Brooks Macdonald Group plc Annual Report and Accounts 2024
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