Board effectiveness review for leading international broking firm to support its UK growth plans and regulatory compliance
The Client’s Needs
The client is one of the largest global broking groups and is expanding rapidly. It is headquartered overseas and wished to review the governance structure and board effectiveness of its UK holding company and the FCA regulated subsidiaries. It required assistance conducting an evaluation of governance and control arrangements as it sought to create a more UK-centric approach to governance for the holding company and subsidiaries in the UK and certain other international territories.
ICSR were engaged to look at:
- Board dynamics and composition;
- Board processes, administration and behaviours;
- The governance framework and appropriateness of the Committee structure;
- The quality, quantity and appropriateness of strategic, financial, management and other information available to the various boards;
- Delegation and oversight and the level of independence of subsidiary boards;
- The culture, ethics and clarity of purpose of each board and committee;
- How the board structure could support future evolution and growth of the business.
ICSR undertook a comprehensive assessment of the governance arrangements including Board effectiveness across all of the Group and Subsidiary companies in scope. A qualitative and quantitative assessment of performance and behaviours was conducted, including confidential interviews and data gathering exercises with all executive and non-executive directors, across 4 different territories, to inform our assessment.
The client was provided with a detailed and significant report, including specific recommendations to enhance performance and create a more UK-centric approach.
ICSR deployed a Director and a Senior Consultant to undertake the review and advise the client on the outcomes.
The client was provided with detailed feedback on its existing board effectiveness along with a series of recommendations to help it create a structure that created an appropriate platform from which to drive growth.