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Governance professionals from across the asset management industry can now directly benchmark their firm’s compensation arrangements for independent directors (iNEDs) on the board of their Authorised Corporate Director (ACD) with those of their peers.   

The FBC iNED Remuneration Study, which launched with its first cohort earlier in 2023, specifically focuses on remuneration data for iNED and iNED chairs on UK ACD boards. Thanks to the strong interest and high levels of participation in the first round of the Study, the scope of the research is being expanded and, as well as being available as part of FBC Corporate Membership, will now be available to non-member firms for a fee.   

By participating in the study and confidentially submitting their own compensation data, firms will receive a detailed report and benchmarked analysis of their own fee arrangements compared to those of the wider industry.  

FBC’s Managing Director, Catherine Battershill, says: “From conversation with our members, we know that accessing detailed and reliable information about independent director compensation can be a challenge. The iNED Remuneration Study aims to help governance teams and chairs make informed decisions at important times in the board’s development, such as when appointing new iNEDs or when reviewing overall remuneration arrangements. 

The FBC iNED Remuneration Study report includes a detailed breakdown of the following:  

• Current fees paid to both iNEDs and iNED chairs for their work on ACD boards  
• The structure of ACD boards and firms’ approaches towards future independent director appointments to their boards 
• Details of ACD iNEDs’ tenure and anticipated time commitment 
• Extent of independence – whether ACD iNEDs take on additional governance roles within the firm and if so, the nature of that work.   
• The arrangements firms have in place to review iNED compensation