UK Bank Boards Analysis, July 2019 - Ridgeway Partners · 2020. 1. 10. · 4 | BOSTON • GLASGOW • LONDON • NEW YORK UK Bank Boards Analysis July 2019 1a Largest UK Bank/Mutual

BOSTON • GLASGOW • LONDON • NEW YORK UK Bank Boards Analysis July 2019 | 1BOSTON • GLASGOW • LONDON • NEW YORK www.ridgewaypartners.com

UK Bank Boards Analysis, July 2019

Welcome to the eighth, bi-annual Ridgeway Partners UK Bank Boards Analysis, as of July 2019.

We list all non executive and executive board members, including their board roles, business backgrounds, nationality, gender and tenure.

We have also included selected analytics on the 355 directors across the 34 banks.

We have divided the sector into the following groups: Table 1a Largest UK Bank/Mutual BoardsTable 1b Ring-Fenced and Non-Ring-Fenced UK Bank BoardsTable 2 Mid-sized Listed UK Bank BoardsTable 3 Subsidiary/Private Equity/Hedge Fund backed UK Bank BoardsTable 4 Larger UK Building Societies and Leading Irish Bank BoardsTable 5 ‘Neobank’/Fintech UK Bank Boards

2 | BOSTON • GLASGOW • LONDON • NEW YORK UK Bank Boards Analysis July 2019

Headlines over the last six months• Despite the ring fenced boards now being established, and fewer new bank approvals in 2019, the demand for financial services board talent

has continued to be strong.

• Demand is particularly strong for Audit, Risk and Remuneration Committee chairs.

• Several boards are also seeking to add profiles with operational/transformation/relisience/technology expertise. More former CIOs/CTOs and COO’s are joining boards given the increasing significance of their experience.

• The updated Code recommending that chairs rotate off after nine years, including the time they have been a non executive director, is encour-aging succession planning in a number of cases.

• In addition to conventional searches, several boards are increasingly undertaking benchmarking and talent pipeline projects, in particular for SMR chair roles.

• Boards continue to respond to greater regulatory and investor demands by creating sub committees focussed on the customer, conduct and culture, and technology. Boards are also appointing employee representatives as encouraged by the governance Code.

• The demand for enhancing the diversity of boards, across all measures, continues to be a priority, with gender diversity still the focus, fol-lowed by BAME profiles. This is also a major factor in considering executive director succession.

• The market is increasingly aware of portfolio capacity and “overboarding” for chairs as well as committee chairs. This, combined with greater time commitments and regulatory scrutiny, is creating pressure on the pipeline of candidates as qualified directors are constrained in what else they can do.

• There is an emerging trend towards the anticipated tenure on boards being nearer to six years than nine years. This is seen to enhance inde-pendence and ensures new perspectives joining the boards. This also reflects a trend of non executive directors approaching their portfolio careers as a genuine second career, and moving between boards perhaps more regularly than before.

• Boards are still seeking core banking skill-sets and suitability for their regulated contexts, but are increasingly keen to attract those with a “next generation financial services” or digital/fintech mindset and expertise.

Company highlights• CYBG and Virgin Money have confirmed their merger. They have announced their intent to rebrand the new entity Virgin Money in 2020.

• One Savings Bank and Charter Court Financial Services have agreed their merger, and there will be a number of board changes in due course.

• There is significant growth in the digital/mobile banking sector. A number of the “neobanks” (Starling, Tandem, Zopa, Monzo and Revolut) continue their growth and board development.

CHAIRS

• 2019 has seen new chairs at Barclays PLC (Nigel Higgins) and Monzo (Gary Hoffman).

• It has been announced that Sir Malcolm Williamson will chair the combined One Savings Bank and Charter Court business, with David Wey-mouth becoming Deputy Chair.

• A search is underway for a new chair at Metro Bank.

• There are four female chairs out of all 49 bank entities listed in this report.

• The typical (median) chair has been on their board for approximately 4 years. Only two chairs have been in place for at least nine years; three for eight years.

NON EXECUTIVE DIRECTORS

• During this first half of the year, there have been new non executive directors appointed at HSBC, Santander, Standard Chartered, NatWest Markets, OneSavings Bank, Co-operative Bank, Coventry Building Society, Leeds Building Society, Bank of Ireland, AIB, Atom, and Zopa.

EXECUTIVE DIRECTORS

• The first half of 2019 has seen new Chief Executive Officers starting at Barclays Bank UK (Matt Hammerstein), TSB (Debbie Crosbie), Bank of Ireland (Ian McLaughlin), Leeds Building Society (Richard Fearon) and AIB (Colin Hunt). Jim Brown has been announced as the new Chief Executive Officer at Sainsbury’s Bank.

• The search for a new chief executive officer of Royal Bank of Scotland is under way.

• New Chief Financial Officers have started at Barclays Bank UK (Acting Chief Financial Officer, Rupert Fowden), Lloyds Bank Corporate Markets (Chris Edis), and AIB (Donal Galvin)

• Rick Hunkin has joined the Board of Chetwood as Executive Director and Chief Risk Officer.

BOSTON • GLASGOW • LONDON • NEW YORK UK Bank Boards Analysis July 2019 | 3

GENDER – COMMITTEE CHAIRS• The role with the highest proportion of females remains Remuneration Chair

(48%) followed by SIDs (30%). This compares to 17% chairs of audit, 12% chairs of risk and 9% of chairs.

CHAIR TENURE• The typical (median) chair has been on the board for 4 years. Only two

chairs (Metro Bank, Tesco Bank) have been in place for at least nine years; three for eight years. This includes time they were a NED or Chair Elect.

GENDER – DIRECTORS • 28% of directors are female. Whilst this is in line with the overall level

for the FTSE 350 (29%) it is below the Hampton-Alexander target of 33% representation set for the end of 2020.

• Over half of banks (20) have at least three female directors with 14 having 4 or more female directors (up from 11 in January 2019); AIB, Atom, HSBC, Nationwide, Santander and TSB each have 5 female directors.

0

1

2

3

4

5

6

7

8

14131211109876

Number of directors

Num

ber o

f ban

ks

SID -

Female

SID -

Male

Risk -

Female

Risk -

Male

Remun

eratio

n - Fe

male

Remun

eratio

n - M

ale

Audit

- Fe

male

Audit

- Male

Chair -

Female

Chair -

Male

0

20

40

60

100%

80

0

1

2

3

4

5

6

Num

ber o

f Cha

irs

119876543210

Year appointed

0

1

2

3

4

5

6

7

8

Num

ber o

f ban

ks

543210

Number of female directors

BOARD SIZE • The average board size is 10.4 directors, ranging from 6 for Zopa to 14 for

AIB, HSBC and Nationwide. This is down from 10.8 in January 2019.

• In January 2019, 12 banks had boards with 13 or more directors. This is now down to 8 boards.

South African

Chinese

New Zealander

French

Spanish

Irish

American

British

These tables summarise the composition of UK Bank Boards. The analysis is based on 355 directors of 34 banks, as of July 2019.**The Ring-Fenced and Non-Ring-Fenced bank board members on Table 1b are not included in the analytics due to the overlap of board members with the group boards.

GENDER – BY ROLE • In total, 37% of the bank NEDs are female. This compares to 35% of all

FTSE 350 NEDs.

• 12% of the bank EDs are female (9% of CEOs, 13% of CFOs and 17% of other EDs). This compares to 10% of all FTSE 350 EDs (as of July 22nd 2019).

• 9% of the bank chairs are female compared to 8% of all FTSE 350 chairs.

0

5

10

15

20

25

30

35

40

RoleCEO CFO EXEC CHAIR NED

Perc

enta

ge o

f fem

ale

dire

ctor

s

TOP 8 NATIONALITIES• 74% of directors are British. 7% are American, 15% other European

nationalities (the top nationalities being Irish 30, Spanish 11, and French 4), 4% are other nationalities (the top other nationalities being New Zealander 4, Chinese 3 and South African 3).

• 7 boards are all British (Close Brothers, Co-Operative Bank, Leeds Building Society, OneSavings Bank, Secure Trust, Skipton Building Society and York-shire Building Society).


Largest UK Bank/Mutual Boards Analysis as of July 20191a Key: NAME Year of joining board Nationality Business background Red highlights female

Table

CHAIR

NIGEL HIGGINS 2019

Investment Banking

MARK TUCKER 2017

Insurance

LORD NORMAN BLACKWELL 2012

UK Government

DAVID ROBERTS CBE 2015

Retail/Wholesale Banking

SIR HOWARD DAVIES 2015

Regulator

THE RT HON. THE BARONESS SHRITI VADERA 2015

Investment Banking/Government

JOSÉ VIÑALS 2016

Economist/Central Banking/IMF

NED

CRAWFORD GILLIES 2014 (SID & REMUNERATION CHAIR)

Strategy Consulting (ACA)

JONATHAN SYMONDS, CBE 2014 (SID, DEPUTY CHAIR & AUDIT CHAIR)

Pharma/Finance (FCA)

ANITA FREW 2010 (SID & DEPUTY CHAIR)

Metals/Mining/Asset Management

LYNNE PEACOCK 2011 (SID & REMUNERATION CHAIR)


MARK SELIGMAN 2017 (SID)

Investment Banking

SCOTT WHEWAY 2013 (SID)

Retail

NAGUIB KHERAJ 2014 (DEPUTY CHAIR & AUDIT CHAIR)

Retail/Wholesale Banking/Finance

NED

MIKE ASHLEY 2013 (AUDIT CHAIR)

Risk/Audit (FCA)

JACKSON TAI 2016 (RISK CHAIR)

Investment/Retail Banking

ALAN DICKINSON 2014 (RISK CHAIR)


KEVIN PARRY OBE 2016 (AUDIT CHAIR)

Finance

PATRICK FLYNN 2018 (AUDIT CHAIR)

(FCA) Retail/Wholesale Banking

CHRIS JONES 2015 (AUDIT CHAIR)

Audit (FCA)

CHRISTINE HODGSON 2013 (SID & REMUNERATION CHAIR)

Technology/Finance (FCA)

NED

TIM BREEDON CBE 2012 (RISK CHAIR)

Insurance/Investment

PAULINE VAN DER MEER MOHR 2015 (REMUNERATION CHAIR)

Human Resources

SIMON HENRY 2014 (AUDIT CHAIR)

Oil and Gas/Finance

TIM TOOKEY 2015 (RISK CHAIR)

Insurance/Retail Banking

ROBERT GILLESPIE 2013 (REMUNERATION CHAIR)

Wholesale Banking (ACA)

ED GIERA 2015 (RISK CHAIR)

Investment Banking

DAVID CONNER 2016 (RISK CHAIR)

Wholesale Banking

NED

SIR IAN CHESHIRE 2017

Retail

KATHLEEN CASEY 2014

US Government

LORD JAMES LUPTON, CBE 2017

Investment Banking

RITA CLIFTON CBE 2012

Brand/Marketing

BARONESS SHEILA NOAKES, DBE 2011 (RISK CHAIR)

Audit/Government (ACA)

ANNEMARIE DURBIN 2016 (REMUNERATION CHAIR)


DR LOUIS CHEUNG 2013

Insurance/Finance

NED

MARY ANNE CITRINO 2018

Investment Banking

HENRI DE CASTRIES 2016

Insurance

AMANDA MACKENZIE OBE 2018

Insurance/Utilities/ Advertising

MAI FYFIELD 2015

Media

FRANK DANGEARD 2016

Investment Banking/Telecoms

ANA BOTÍN 2014


DR BYRON GROTE 2014

Oil and Gas/Finance

NED

MARY FRANCIS, CBE 2016

Government

THE HON. LAURA CHA, GBM 2011

Hong Kong Government/Regulatory

NICK PRETTEJOHN 2014

Insurance

ALBERT HITCHCOCK 2018

Media/Telecommunications/IT

ALISON DAVIS 2011

Banking/Payments/Technology

GERRY BYRNE 2017


GAY HUEY EVANS, OBE 2015

Capital Markets/Regulation

NED

MATTHEW LESTER 2017

Retail Finance (ACA)

DR JOSÉ ANTONIO MEADE KURIBREÑA 2019

Government/Banking

STUART SINCLAIR 2016 (REMUNERATION CHAIR)

Retail Banking

MITCHEL LENSON 2011**

Retail/Wholesale Banking/IT

MORTEN FRIIS 2014

Capital Markets/Risk

GARRETT CURRAN 2019

Investment Banking

DR NGOZI OKONJO-IWEALA 2017

Nigerian Government/World Bank

NED

DIANE SCHUENEMAN 2015

Investment Banking

IRENE LEE 2015

Wholesale Banking

SARA WELLER CBE 2012

Retail

THE RT. HON. THE BARONESS USHA KUMARI PRASHAR, CBE 2017

Public Sector

MIKE ROGERS 2016

Retail Banking/Insurance

DIRK MARZLUF 2019

Insurance/Technology

DAVID TANG 2019

Technology/Venture Capital

NED

HEIDI MILLER 2014

Investment/Wholesale Banking

GUNN WÆRSTED 2017

Wholesale Banking/Media/Telco

DR LENA WILSON, CBE 2018

Government/Investment Banking

GENEVIEVE SHORE 2015

Publishing/Digital

CARLSON TONG 2019

(FCA) Audit

NED

DAVID NISH 2016

Insurance/Investment (ICAS)

JASMINE WHITBREAD 2015

Charity/Financial Information

ED – CEO JES STALEY 2015

Wholesale Banking

JOHN FLINT 2018

Wholesale/Retail Banking

ANTÓNIO HORTA-OSÓRIO 2011

Retail Banking

JOE GARNER 2016

Retail Banking/Telecommunications

ROSS MCEWAN 2013****

Retail Banking/ Insurance

NATHAN BOSTOCK 2014

Retail/Wholesale Banking (ACA)

BILL WINTERS, CBE 2015

Investment Banking

ED – CFO

TUSHAR MORZARIA 2013


EWEN STEVENSON 2019

Wholesale Banking/ Finance

GEORGE CULMER 2012*

Insurance/Finance (ACA)

MARK RENNISON 2007***

Professional Services/Finance (FCA)

KATIE MURRAY 2018

Retail/Wholesale Banking (CA)/Insurance

ANTONIO ROMAN 2017*****

Retail Banking

ANDY HALFORD 2014

Telecommunications/Finance (FCA)

EXECUTIVE DIRECTOR

MARC MOSES 2014

Wholesale Banking/Risk

JUAN COLOMBÁS 2013

Retail/Wholesale Banking/Risk

TONY PRESTEDGE 2007 (DEPUTY CEO)


SUSAN ALLEN 2019

Retail/Corporate Banking

EXECUTIVE DIRECTOR

CHRIS RHODES 2009

Retail/Wholesale Banking/Finance (ACA)

Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway PartnersNote: Boards continue to change. Reflects the market as of July 2019. * Retirement announced 25/10/2018. Will be replaced by William Chalmers mid 2019. ** Will leave the Board in mid 2019.*** Announced his intention to retire on 21/5/2019. Will be replaced by Chris Rhodes in Autumn 2019.**** Announced 25/4/2019 that he will leave RBS. Will stay until successor appointed.***** Announced that Madhukar Dayal will take over this role in September 2019.

https://www.barclays.co.uk/

https://www.hsbc.co.uk

https://www.lloydsbankinggroup.com/

https://www.nationwide.co.uk/

https://personal.rbs.co.uk/personal.html

https://www.santander.co.uk/uk/


Ring-Fenced and Non-Ring-Fenced Bank Boards Analysis as of July 2019Note: These are the subsidiary Boards of four of the Banks listed in Table 1A.

They are not included in the analytics due to the overlap of Board members.1bBARCLAYS BANK UK PLC RING-FENCED

BARCLAYS BANK PLC NON-RING-FENCED

HSBC UK RING-FENCED

HSBC BANK PLC NON-RING-FENCED

LLOYDS BANK PLC* RING-FENCED

LLOYDS BANK CORPORATE MARKETS NON-RING-FENCED

NATWEST HOLDINGS LTD RING-FENCED

NATWEST MARKETS NON-RING-FENCED

CHAIR

SIR IAN CHESHIRE 2018

Retail

NIGEL HIGGINS 2019

Investment Banking

DAME CLARA FURSE 2018 (REMUNERATION CHAIR)

Wholesale Banking/Markets

STEPHEN O’CONNOR 2018 (REMUNERATION CHAIR)

Investment Banking

LORD NORMAN BLACKWELL 2012

UK Government

LORD JAMES LUPTON CBE 2018

Investment Banking

SIR HOWARD DAVIES 2018

Regulator

FRANK DANGEARD 2018*****

Investment Banking/Telecoms

NED

ANDREW RATCLIFFE 2018 (AUDIT CHAIR)

Audit

JEREMY SCOTT 2018 (AUDIT CHAIR)

Audit

JIM COYLE 2018 (AUDIT CHAIR)

Retail/Commercial Banking

JOHN TRUEMAN 2018 (DEPUTY CHAIR)

Investment Banking

ANITA FREW 2010 Metals/Mining/

Asset Management

ANDREW MCINTYRE 2018 (AUDIT CHAIR)

Audit

GRAHAM BEALE, CBE 2018 (SID)

Retail Banking

VIVEK AHUJA 2018 (RISK CHAIR)

Retail/Wholesale Banking/Finance

NED

DAVID THORBURN 2018 (RISK CHAIR)


PETER BERNARD 2018 (RISK CHAIR)

Investment Banking

MRIDUL HEGDE 2018 (RISK CHAIR)

Government/Regulatory

DR ERIC STRUTZ 2018 (RISK CHAIR)

Investment Banking

NIGEL HINSHELWOOD 2019 (SID)


JOHN CUMMINS 2018 (RISK CHAIR)

Retail/Commercial Banking/Insurance

PATRICK FLYNN 2018 (AUDIT CHAIR)


BRENDAN NELSON 2018 (AUDIT CHAIR)

Audit (ACA)

NED

MICHAEL JARY 2018 (REMUNERATION CHAIR)

Retail/Strategy

HELENE VLETTER-VAN DORT 2018 (REMUNERATION CHAIR)

Legal

DAME DENISE HOLT 2018

Diplomatic

ANDREW WRIGHT 2018 (AUDIT CHAIR)

Finance/Investment Banking

ALAN DICKINSON 2014 (RISK CHAIR)


JOHN OWEN 2018 (REMUNERATION CHAIR)

Wholesale Banking

BARONESS SHEILA NOAKES, DBE 2018 (RISK CHAIR)

Audit/Government (ACA)

TAMSIN ROWE 2019

Investment Banking/HR

NED

AVID LARIZADEH DUGGAN 2018


HELEN KEELAN 2018

Technology/Financial Services (FCA)

ALAN KEIR 2018


DAME MARY MARSH 2018

Charity

SIMON HENRY 2014 (AUDIT CHAIR)

Oil and Gas/Finance

CARLA ANTUNES DA SILVA 2018 (LLOYDS EXEC)


ROBERT GILLESPIE 2018 (REMUNERATION CHAIR)


SARAH WILKINSON 2018

Investment Banking/IT

NED

KATHRYN MATTHEWS 2018

Investment Management

MARIA RICHTER 2018

Investment Banking

ROSEMARY LEITH 2018

Technology/Financial Services

YUKIKO OMURA 2018

Investment Banking

STUART SINCLAIR 2016 (REMUNERATION CHAIR)

Retail Banking

JENNIFER TIPPIN 2018 (LLOYDS EXEC)


FRANCESCA BARNES 2018

Investment Banking

NED

SIR JOHN TIMPSON, CBE 2018

Retail

ALEX THURSBY 2018

Wholesale Banking

DAVID LISTER 2018

Consumer Goods/IT

LORD JAMES LUPTON, CBE 2017

Investment Banking

IAN CORMACK 2018


NED

CHRIS PILLING 2018

Retail Banking

LESLIE VAN DE WALLE 2018

Retail/Oil and Gas

SARAH BENTLEY 2019

Strategy/Operations/Technology

ALISON DAVIS 2018

Financial Services/Technology

NED

BRENDAN GILLIGAN 2019


MORTEN FRIIS 2018

Capital Markets/Risk

NED

AMANDA MACKENZIE OBE 2018

Insurance/Utilities/ Advertising

YASMIN JETHA 2018

Retail Banking

NEDNICK PRETTEJOHN 2014

Insurance

MIKE ROGERS 2018


NED SARA WELLER CBE 2012

Retail

MARK SELIGMAN 2018

Investment Banking

NED

DR LENA WILSON, CBE 2018

Government/Investment Banking

ED – CEO

MATT HAMMERSTEIN 2019

Retail Banking/ Consulting

JES STALEY 2019 (INTERIM CEO)

Wholesale Banking

IAN STUART 2018


JAMES EMMETT 2018**

Commercial Banking

ANTÓNIO HORTA-OSÓRIO 2011

Retail Banking

MARK GRANT 2018

Wholesale Banking

ROSS MCEWAN 2018****


CHRIS MARKS 2018

Corporate/Commercial Banking

ED – CFO

RUPERT FOWDEN 2019 (ACTING CFO)

Retail Banking

STEVE EWART 2018

Investment Banking

DAVID WATTS 2018


JACQUES FLEURANT 2018**

Finance

GEORGE CULMER 2012***


CHRIS EDIS 2019


KATIE MURRAY 2018

Retail Banking

RICHARD PLACE 2018

Investment Banking

EXECUTIVE DIRECTOR

JAMES CALLADINE 2018


PETER REID 2018**

Finance/Commercial Banking

JUAN COLOMBÁS 2013


ALISON ROSE 2018

Wholesale Banking

Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway PartnersNote: Boards continue to change. Reflects the market as of July 2019. * At Lloyds Banking Group, The Group Board effectively operates as the ring-fenced bank board, but with three additional independent NEDs** These executives attend the Board, but are not members of the Non-Ring-Fenced Board*** Retirement announced 25/10/2018. Will be replaced by William Chalmers mid 2019.**** Announced 25/4/19 that he will leave RBS. Will stay on this board until successor appointed. ***** Acts as an observer at the Natwest Holdings Ltd BoardNote: Santander have a ring-fenced Board that essentially mirrors their main Board.

Key: NAME Year of joining board Nationality Business background Red highlights female

Table


Mid-Sized Listed UK Bank Boards Analysis as of July 20192CHAIR

SIR MALCOLM WILLIAMSON 2017

Retail/Wholesale Banking/Credit Cards

MIKE BIGGS 2017

Insurance (ACA)

JIM PETTIGREW 2012

Retail Banking/Asset Management/Insurance (FCA)

VERNON HILL II 2010

Retail Banking

DAVID WEYMOUTH 2017

Retail Banking/Insurance/IT

FIONA CLUTTERBUCK 2012

Investment Banking

THE RT HON. THE LORD FORSYTH OF DRUMLEAN 2014

Government/Wholesale Banking

NED

PHILIP JENKS 2009 (DEPUTY CHAIR)

Retail Banking

GEOFFREY HOWE 2011 (SID)

Law

DAVID BENNETT 2015 (SID & DEPUTY CHAIR)

Retail Banking

SIR MICHAEL SNYDER 2015 (SID & AUDIT CHAIR)

Audit

ROD DUKE 2012 (SID)

Retail Banking/ Operations FLIBF

PETER HARTILL 2011**** (SID & AUDIT CHAIR)

Audit (ACA)

PAUL MARROW 2011 (SID & RISK CHAIR)


NED

NOËL HARWERTH 2017 (SID)

Insurance/Wholesale/Investment Banking

OLIVER CORBETT 2014 (AUDIT CHAIR)

Investment Banking/Insurance (FCA)

CLIVE ADAMSON 2016 (RISK CHAIR)

Financial Services/Regulator

GENE LOCKHART JR 2010 (RISK CHAIR)

Retail Banking (AICPA)

GRAHAM ALLATT 2014 (RISK CHAIR)

Retail/Wholesale Banking (FCA)

FINLAY WILLIAMSON 2014 (RISK & COMPLIANCE CHAIR)

Retail Banking (ACA)

ANN BERRESFORD 2016 (AUDIT CHAIR)

Oil and Gas/Retail Banking (ACA)

NED

IAN WARD 2015 (REMUNERATION CHAIR)

Building Society

LESLEY JONES 2013 (RISK CHAIR)

Wholesale Banking/Risk

ADRIAN GRACE 2014 (REMUNERATION CHAIR)

Insurance

ROGER FARAH 2014 (REMUNERATION CHAIR)

Retail

ERIC ANSTEE 2015 (AUDIT CHAIR)

Wholesale Banking/Energy/Audit (FCA)

HUGO TUDOR 2014 (REMUNERATION CHAIR)

Fund Management (ACA)

VICTORIA STEWART 2016 (REMUNERATION CHAIR)

Asset management

NED

TIM BROOKE 2015 (RISK CHAIR)

Investment Banking/Building Society/Audit

BRIDGET MACASKILL 2013 (REMUNERATION CHAIR)


TIM WADE 2016 (AUDIT CHAIR)

Retail Banking (FCA)

STUART BERNAU 2010

Retail Banking

SARAH HEDGER 2019

Investment/Commercial Banking

BARBARA RIDPATH 2017

Wholesale Banking/Credit Rating Agency

PAUL MYERS 2018


NED

RAJAN KAPOOR 2016 (AUDIT CHAIR)

Retail/Wholesale Banking (FCA)

PETER DUFFY 2019

Digital/Travel/Retail/Wholesale Banking

PAUL COBY 2016

Retail/IT

CATHERINE BROWN 2018

Retail Banking/Private Equity

MARY MCNAMARA 2014 (REMUNERATION CHAIR)

Wholesale Banking

GRAEME YORSTON 2017

Retail Banking

BARONESS LUCY NEVILLE ROLFE DBE, CMG 2018

Retail/Government

NED

GEETA GOPALAN 2018

Retail/Corporate Banking/Technology (ACA)

BEN GUNN 2010

Insurance

MARGARET HASSALL 2016

IT/Retail and Wholesale Banking

NEDFIONA MACLEOD 2016

Oil and Gas

MONIQUE MELIS 2017

Regulatory

NED

DARREN POPE 2018

Retail Banking/Finance (ACCA)

PAUL THANDI 2019

Events/Media

NED

DR TERESA ROBSON-CAPPS 2014

Retail Banking/Retail/Telecommunications/IT (CIMA)

NED

AMY STIRLING 2018

Telecoms/Media/Financial Services/Finance (FCA)

ED – CEO

IAN LONERGAN 2008

Consumer Finance/Audit

PREBEN PREBENSEN 2009

Investment Banking/Insurance

DAVID DUFFY 2015


CRAIG DONALDSON 2010

Retail Banking

ANDY GOLDING 2012

Retail Banking

NIGEL TERRINGTON 1990


PAUL LYNAM 2010


ED – CFO

SEBASTIEN MALONEY 2010

Investment Banking/Consumer Finance/Audit (CA)

MIKE MORGAN 2018

Wholesale Banking/Insurance/Finance (ACA)

IAN SMITH 2014

Audit DAVID ARDEN 2018

Retail Banking (CIMA)

APRIL TALINTYRE 2012

Wholesale Banking/Audit (ACA)

RICHARD WOODMAN 2012

Wholesale Banking (CIMA)

NEERAJ KAPUR 2011

Retail/Wholesale Banking/Finance (FCA)

EXECUTIVE DIRECTOR

PETER ELCOCK 2015


ELIZABETH LEE 2012**

Law

JOHN HERON 2003*****


Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway PartnersNote: Boards continue to change. Reflects the market as of July 2019. * Charter Court and OneSavings Bank have agreed a merger.** Retirement announced 19/10/18. Stepping down 31/7/2019.*** CYBG and Virgin Money continue their integration. The intention is to migrate to the Virgin Money brand over time.****Announced 22/5/2019. Will be stepping down from board at AGM in 2020.*****Announced 22/5/2019 Will be retiring from board in early 2020.


Table

* *** *


Subsidiary/Private Equity/Hedge Fund backed UK Boards Analysis as of July 20193CHAIR

PATRICK BUTLER 2018

Consulting/Financial Services

ROBERT SHARPE 2016

Retail Banking

BOB DENCH 2018


ROGER DAVIS 2013

Retail Banking

JOHN CALLENDER 2018


GRAHAM PIMLOTT, CBE 2008

Wholesale and Retail Banking/Law

RICHARD MEDDINGS 2017


NED

DANUTA GRAY 2014 (SID)

Telecommunications

JOHN MALTBY 2015 (RISK CHAIR)

Retail Banking

DEREK WEIR 2014 (SID & RISK CHAIR)


PETER CLARKE 2018 (SID & REMUNERATION CHAIR)


ROBIN ASHTON 2011 (SID & REMUNERATION CHAIR)

Retail/Commercial Banking (ACA)

JIM WILLENS 2017 (SID & REMUNERATION CHAIR)

Retail Banking

DAME SANDRA DAWSON, DBE 2014 (SID & REMUNERATION CHAIR)

Academic

NED

JOHN HITCHINS 2014 (AUDIT CHAIR)

Audit (FCA)

JOHN BAINES 2018 (AUDIT CHAIR)

Retail/Wholesale Banking. (ACA)

GLYN SMITH 2016 (AUDIT CHAIR)


CAROLE BUTLER 2018 (AUDIT CHAIR)

Wholesale/Private Banking

ANDREW DIDHAM 2017 (AUDIT CHAIR)

Finance/Commercial Banking (FCA)

JIM MCCONVILLE 2014 (AUDIT CHAIR)

Insurance/Retail Banking/Finance (ACA)

POLLY WILLIAMS 2014 (AUDIT CHAIR)

Audit (ACA)

NED

PETER SHAW 2014 (RISK CHAIR)

Retail Banking/Risk

IAN BUCHANAN 2018


WILLIAM THOMAS 2013 (REMUNERATION CHAIR)

IT

GUY THOMAS 2017 (RISK CHAIR)


PAUL LAWRENCE 2015 (RISK CHAIR)

Wholesale Banking

ROBERT ENDERSBY 2014 (RISK CHAIR)


ANDREW SIMMONDS 2018 (RISK CHAIR)


NED

CATHY TURNER 2014 (REMUNERATION CHAIR)


MIMI KUNG 2017

Retail Banking

SUE HARRIS 2019

Retail Banking/Retail

GWYN BURR 2013

Retail

CEDRIC DUBOURDIEU 2017

Private Equity

GIOVANNI (JOHN) CASTAGNO 2016

Insurance

DR PAULINA BEATO 2017

Financial Regulation/Utilities

NED

HENRY KELLAN 2018


PHILIP MOORE 2018

Insurance/Finance

PAUL COPLEY 2018

Audit/Banking (CA)

MARCIA CAMPBELL 2013

Insurance

ROGER LOVERING 2013


JACQUI FERGUSON 2018

Technology

GRAEME HARDIE 2016

Retail Banking

NED

ALAN PULLINGER 2018


JACKIE NOAKES 2018


ANGIE RISLEY 2016

Retail/Retail Banking/Leisure/HR

LINDSEY MCMURRAY 2011

Private Equity

SIMON MACHELL 2013

Insurance (FCA)

MIQUEL MONTES 2015

Retail/Commercial Banking/IT

NEDMYLES O’GRADY 2019


JOHN ROGERS 2013

Retail/Finance

AMANDA RENDLE 2016

Marketing/Retail and Commercial Banking

DR STEPHEN PAGE 2017

Business/Technology Strategy

NEDMICHAEL ROSS 2015

Retail/Digital

ALAN STEWART 2017

Retail (ACA)

TOMÁS VARELA 2015

Retail Banking/Insurance (CPA)

ED – CEO

PHILLIP MONKS, OBE 2009


IAN MCLAUGHLIN 2019

Retail Banking

ANDREW BESTER 2018

Wholesale Banking

JIM BROWN 2019** (CEO DESIGNATE)


IAN COWIE 2018

Commercial Banking

GERRY MALLON 2018

Retail Banking

DEBBIE CROSBIE 2019


ED – CFO

JAMES MACK 2013

Retail Banking/Finance

THOMAS MCAREAVEY 2017


MICHAEL LARKIN 2018


DYLAN MINTO 2017

Retail/Commercial Banking/Audit (FCA)

DECLAN HOURICAN 2016

Retail/Wholesale Banking/Insurance (FCA)

RALPH COATES 2016

Retail Banking/Finance (ACA)

EXECUTIVE DIRECTOR

CHRISTINE PALMER 2016

Risk/Wholesale Banking

NEIL FULLER 2015

Retail Banking/Risk

GRAEME FORRESTER 2017


RICHARD HENDERSON 2017

Retail Banking/Risk (FCA)

EXECUTIVE DIRECTOR

DAVID JONES 2016

Retail Banking

EXECUTIVE DIRECTOR

Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway PartnersNote: Boards continue to change. Reflects the market as of July 2019. * Nick Slape is the CFO but is not a Board Member.** Joined mid June, subject to regulatory approval.


Table

*

https://www.aldermore.co.uk/


CHAIRGARY HOFFMAN 2018


ROBIN ASHTON 2013

Retail/Commercial Banking (ACA)

ROBERT EAST 2011


JOHN HEAPS 2014

Legal

PATRICK KENNEDY 2010

Betting/Consumer Goods (ACA)

RICHARD PYM CBE 2014


NED

PETER AYLIFFE 2013 (DEPUTY CHAIR)

Retail Banking

GARETH HOSKIN 2015 (SID, VICE CHAIR & AUDIT CHAIR)

Insurance/Audit (ACA)

MARK LUND 2016 (DEPUTY CHAIR)

Wealth Management

MARK PAIN 2013 (SID, DEPUTY CHAIR & AUDIT CHAIR)

Retail Banking/Construction (FCA)

SIR PATRICK HAREN 2012 (SID, DEPUTY & REMUNERATION CHAIR)

Utilities

CATHERINE WOODS 2010*** (SID & DEPUTY CHAIR)

Investment Banking

NED

JO KENRICK 2017 (SID & REMUNERATION CHAIR)

Construction/Retail/Marketing

DAVID FISHER 2012 (RISK CHAIR)

Retail Banking

DENIS HALL 2017 (RISK CHAIR)


NEETA ATKAR 2017 (RISK CHAIR)

Risk/Retail Banking

RICHARD GOULDING 2017 (RISK CHAIR)


PETER HAGAN 2012**** (RISK CHAIR)

Investment Banking

NED

MARTIN STEWART 2018 (RISK CHAIR)

Retail Banking/Regulator

LYNN MCMANUS 2017 (REMUNERATION CHAIR)

Retail Banking (CIMA)

RICHARD COATES 2017 (AUDIT CHAIR)

Audit / Building Society (ACA)

GUY PARSONS 2013 (REMUNERATION CHAIR)

Leisure

PATRICK MULVIHILL 2011 (AUDIT CHAIR)

Investment Banking (CA)

SANDY KINNEY PRITCHARD 2019 (AUDIT CHAIR)

Audit/Consulting (ACA)

NED

IRAJ AMIRI 2018 (AUDIT CHAIR)

Audit/Assurance (ACA)

ANNETTE BARNES 2019

Retail Banking

HELEN STEVENSON 2013 (REMUNERATION CHAIR)

Retail Banking/Consumer Goods

GUY BAINBRIDGE 2019

Audit/Financial Services (FCA)

EVELYN BOURKE 2018

Insurance/Healthcare

JIM O’HARA 2010***** (REMUNERATION CHAIR)

Technology

NEDCATHERINE DORAN 2016

IT/Business/Retail Banking

IAIN CORNISH 2019

Retail Banking/ Building Society

AMANDA BURTON 2016

Legal

ALISON HUTCHINSON, CBE 2015

Retail Banking

IAN BUCHANAN 2018


TOM FOLEY 2012

Wholesale/Retail Banking (FCA)

NEDSHAMIRA MOHAMMED 2019

Insurance

JOHN HUNT 2015


DENISE COCKREM 2015


GORDON IRELAND 2015

Audit (FCA)

EILEEN FITZPATRICK 2019

Asset Management/Stockbroking

CAROLAN LENNON 2016

Telecommunications

NEDPHILIP JENKS 2012

Retail Banking

HEATHER JACKSON 2018

Retail Banking/Retail/IT

FIONA MULDOON 2015

Insurance (FCA)

BRENDAN MCDONAGH 2016


NEDSTEVE PATEMAN 2018


HELEN NORMOYLE 2016

Retail/Media/Government

NEDANN O’BRIEN 2019

Consulting

NEDRAJ SINGH 2019

Insurance/Asset Management

ED – CEO

MARK PARSONS 2014

Retail Banking/Consultancy (CIMA)

RICHARD FEARON 2016

Retail Banking/Consulting

DAVID CUTTER 2000

Building Society (ACA)

MIKE REGNIER 2014

Retail Banking

FRANCESCA MCDONAGH 2017

Retal/Wholesale Banking

DR COLIN HUNT 2019

Retail Banking/Investment Banking

ED – CFO MICHELE FAULL 2017

Retail Banking/Consultancy (ACCA)

BOBBY NDAWULA 2015

Building Society (ACA)

ALASDAIR LENMAN 2017

Retail Banking/Insurance (ACMA)

ANDREW KEATING 2012**

Retail Banking (CA)

DONAL GALVIN 2019

Wholesale Banking

ED

PETER FROST 2012

Retail Banking

ANDREW GREENWOOD 2015

Building Society

ANDREW BOTTOMLEY 2016

Retail Banking/Building Society

STEPHEN WHITE 2016

Retail Banking

TÓMAS O’MIDHEACH 2019 (DEPUTY CEO)

Retail Banking/Wholesale Banking (ACCA)

EDANDY DEEKS 2017

Retail Banking

KAREN WINT 2012

Building Society

IAN CORNELIUS 2012

Wholesale Banking/Building Society

Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway Partners Note: Boards continue to change. Reflects the market as of July 2019.* Andrew Conroy is Interim CFO and is not a Board member.** Announced that he will leave this role in June 2019.*** Announced intention to step down from board October 2019.**** Announced intention to step down from board in July 2019.***** Announced intention to step down from board in October 2019.

Larger UK Building Societies and Leading Irish Bank Boards Analysis as of July 20194 Key: NAME Year of joining board Nationality Business background Red highlights female

Table

*


CHAIR

BRIDGET ROSEWELL, CBE 2014 (REMUNERATION CHAIR)

Government/Economist

ALAN COOK, CBE 2017

Insurance/Post/Retail Banking

GARY HOFFMAN 2019


CYRUS ARDALAN 2015 (REMUNERATION CHAIR)

Investment Banking

OLIVER STOCKEN, CBE 2015


MATT COOPER 2014

Retail Banking

PETER HERBERT 2018


NED

LAUREL POWERS-FREELING 2015 (SID)

Retail Banking

MATT SYMONDS 2017 (SID & REMUNERATION CHAIR)

Consulting

TIM BROOKE 2015 (SID & AUDIT CHAIR)

Retail/Wholesale Banking/Audit

ROBERT BURGESS 2015 (RISK CHAIR)

Retail Banking/Investment Trust/Fintech

MARK WINLOW 2015 (SID & AUDIT CHAIR)

Financial Services

MICHAEL AMATO 2015 (SID & REMUNERATION CHAIR)

Retail Banking

RICHARD GOULDING 2017 (RISK CHAIR)

Retail/Wholesale/Investment Banking

NED

PATRICIA JACKSON 2014 (RISK CHAIR)

Management Consulting

JOHN GILL 2018 (RISK CHAIR)


KEITH WOOLLARD 2016 (RISK CHAIR)

Retail Banking/Regulatory

NAVTEJ NANDRA 2017 (AUDIT CHAIR)

Investment Banking/Investment Management

STEVE COLSELL 2015 (RISK CHAIR)


JEFFREY PRITCHARD 2018 (RISK & AUDIT CHAIR)


GAENOR BAGLEY 2019 (AUDIT & REMUNERATION CHAIR)

Audit

NED

DAVID ROPER 2018 (AUDIT CHAIR)

Audit

EMER DALY 2017 (AUDIT CHAIR)

Audit/Insurance (ACA)

AMY KIRK 2017 (REMUNERATION CHAIR)

Retail Banking

TED BERK 2017

Private Equity

VICTORIA RAFFÉ 2015 (REMUNERATION CHAIR)

Regulator

MICHAEL KLIMBACHER 2018


PAUL CUTTER 2018

Betting/Media/Technology

NED

ERGUN OZEN 2016

Retail Banking

EILEEN BURBIDGE, MBE 2015


LAZARO CAMPOS 2018

Payments

JEVGENIJS ZAGOROVSKIS 2018


JON HOGAN 2019

Retail/Commercial Banking/Finance

NED

VICTORIA DEL CASTILLO 2018*

Retail Banking

MILES GRIMSHAW 2017

Private Equity

MARCUS TRAILL 2015


NED

CHERYL MILLINGTON 2018

Retail/Retail Banking/IT

NED

IAN ORMEROD 2018*


NED

GONZALO ROMERA 2019


ED – CEO

MARK MULLEN 2014

Retail Banking

ANDY MIELCZAREK 2017

Retail Banking/Credit Cards

TOM BLOMFIELD 2015

Entrepreneur/Fintech

RISHI KHOSLA 2015

Investment Banking/Investment Research/Fintech Finance

ANNE BODEN MBE 2014


RICKY KNOX 2015

Entrepreneur/Financial Services

JAIDEV JANARDANA 2014

Credit Cards

ED – CFO

DAVID MCCARTHY 2014


NICK FISHER 2018

Retail/Wholesale Banking/Credit Cards (ACA)

CRISTINA ALBA OCHOA 2017

Wholesale Banking

TONY ELLINGHAM 2016


ANTHONY MURPHY 2019

Retail/Commercial Banking (CIMA)

ED

RICK HUNKIN 2019

Retail Banking

JOEL PERLMAN 2015

Investment Research/Fintech Finance/Consulting

ED

MARK JENKINSON 2018

Technology Consulting

Source: Annual Reports, BoardEx, Ridgeway Partners Market Analysis. By Simon Mee, Ridgeway Partners Note: Boards continue to change. Reflects the market as of July 2019.* These two directors act as alternate investor board members.** Alwyn Jones is the CFO, but is not a Board member.*** Steve Hulme is the CFO, but is not a Board member.

“Neobank”/Fintech UK Bank Boards Analysis as of July 20195 Key: NAME Year of joining board Nationality Business background Red highlights female

Table

** ***


Coverage and methodology of the report• We have continued our coverage of the now fully established Ring-Fenced and Non-Ring-Fenced Bank Boards.

• The Ring-Fenced and Non-Ring-Fenced Bank Board members on Table 1b are not included in the analytics/graphs due to the overlap of board members with the group boards.


DD: + 44 (0) 207 823 0160M + 44 (0) 7584 517 596T + 44 (0) 207 823 [email protected] www.ridgewaypartners.com

Simon MeeRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Simon Mee advises clients across retail and commercial banking, payments, fintech and wealth management. He focuses on CEO and Board appointments.

DD: + 44 (0) 207 823 0176M: + 44 (0) 7725 223 589T: +44 (0) 207 823 [email protected] www.ridgewaypartners.com

Christine LoughreyRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Christine Loughrey focuses on Exco, general management and finance leadership roles across retail and commercial banking and fintech.


Charlie CliftonRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Charlie Clifton focuses on Exco, general management and risk leadership roles across retail and commercial banking and insurance.


Louise AngelRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Louise Angel leads our UK board practice and specialises in non executive director, chair and committee chair appointments across all sectors.


Emma LucasRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Emma Lucas supports this team, working across retail and commercial banking, payments, fintech and wealth management projects.


Krystyna NowakRidgeway Partners110 Buckingham Palace RoadLondon SW1W 9SA

Krystyna Nowak focuses on chair and non-executive director appointments within financial services and across other sectors.


Documents

UK Bank Boards Analysis, July 2019 - Ridgeway Partners · 2020. 1. 10. · 4 | BOSTON • GLASGOW • LONDON • NEW YORK UK Bank Boards Analysis July 2019 1a Largest UK Bank/Mutual