Fund Boards Council has launched a brand-new service for asset management firms looking to ensure that they have competitive remuneration arrangements in place for their fund board independent directors.
The FBC iNED Remuneration Study, part of FBC’s fund board effectiveness and development work, analyses detailed figures provided directly from asset management firms on the fees paid to independent directors sitting on Authorised Corporate Director (ACD) boards in the UK. The study aims to provide participating firms with benchmarked data and insights to help inform their own compensation decision-making.
The first wave of this confidential study was made available to FBC corporate members and has garnered strong interest, with three-quarters of member firms already having taken part. Each participating firm from this first cohort will be receiving their own benchmarked analysis early in July setting out how their iNED remuneration arrangements compare to the wider industry. These bespoke, benchmarked insights will be provided on a bi-annual basis to FBC Corporate Members to help them keep up to date with developing compensation trends.
Explaining the background to the iNED Remuneration Study, FBC’s Managing Director, Catherine Battershill, said: “As the role and impact of independent directors (iNEDs) on fund boards grows in importance, so too are the demands on iNEDs’ input, expertise and time. With this comes the evitable question about appropriate levels of compensation and we hope that this Study will help firms gain assurance about the suitability of their own iNED remuneration arrangements.“
The iNED Remuneration Study is part of FBC Corporate Membership and is free of charge to any participating corporate member firm. From early July, the study will be also open for participation to non-member firms for a fee. To find out more, please contact Catherine Battershill, Fund Board Council’s Managing Director cbattershill@fundboards.org.
