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The Value and Purpose of Board Evaluations from the Perspectives of the Board, the Regulator and the Practitioner

A Roundtable Discussion: Friday 26 October 2012

Andrew Bailey, Deputy Chief Executive of the Prudential Regulation Authority, joined Bvalco and invited representatives at this discussion which explored the relevance and challenges of evaluating the board within the current corporate governance environment. How does or should the approach of external facilitator compare and contrast with that of the regulator?

As we know, Boards of listed financial institutions are now required under the Code to evaluate their performance on an annual basis. They are encouraged to use external facilitators every three years as part of a new approach to financial regulation empowering regulators to look beyond compliance, to supervise proactively and to challenge.

The regulators of financial institutions are also now paying particularly close attention to the effectiveness of the board as a key component in the corporate governance structure.

While the regulator and the external facilitator have a shared interest which is the effectiveness of the board, there is an inherent difference in the perceived purpose of what they do and the experience of how they go about their reviews. This roundtable discussion is about improving mutual understanding and respect for what each does and how they do the job. Through discussion we hope to explore the primary differences and similarities and to improve understanding of the impact on board effectiveness.

We propose the following questions to provide some initial structure to our discussion:

1. To what extent should Chairs (and their Boards) expect a Regulator Review to be distinct from that of an external, independent Board Review?

2. What concerns have Chairs voiced about the similarities and differences of the two types of review?

3. To what extent might these two types of review require a different approach and lead to different outcomes?

18 JUNE 2013

Financial Times Non-executive Director Qualification awarded Diploma Status

Congratulations to the hugely successful Non-executive Director professional training Programme run by The Financial Times Non-executive Directors' Club, which has been sanctioned with Diploma status. Formerly candidates on the course, which is a formally accredited, post-graduate level qualification for current and aspiring non-executive directors, received a Certificate on successful completion, but the high standards and heavy workload were considered worthy of meriting graduates of the course with a Diploma. Bvalco Director Alison Gill is a Joint Workshop Presenter and Co-Author of Module 1 of the Programme – The Effective Non-Executive Director. Alison will give a talk about Women on Boards in early July this year.

TUESDAY 4 FEBRUARY 2014

A Boardroom Conversation with Sir Howard Davies

Howard Davies is Chair of the British Government's Airport Policy Review and of Phoenix insurance group. He also is a Professor of Practice at the French School of Political Science in Paris (Sciences Po).

A BVALCO PUBLICATION

Board Performance: Reflections on Board Review

Bvalco draw on their recent experience of conducting independent external board evaluations. Bvalco have observed diverse boards of directors including organisations in the FTSE 100. Their Bvalco board reviews have highlighted six common challenges to board effectiveness. In this paper Bvalco explain these challenges, providing an informed insight into why they arise, examining in particular the board behaviours that may be at their root.

Read the full paper.

TUESDAY 10 SEPTEMBER 2013

A Boardroom Conversation with Jim Leng

Jim Leng is Non-executive Chairman of HSBC Bank Plc and also European Chairman of AEA, an American private equity partnership. He sits on the Boards of two listed companies as a Non-executive Director: Alstom SA (French Engineering company) where he chairs the Nomination and Remuneration Committee, and as Senior Independent Director of Genel Energy PLC, an oil and gas company with its principal interests in Turkey and Kurdistan.

TUESDAY 5 NOVEMBER 2013

A Boardroom Conversation with Sir Simon Robertson

Simon has been in Investment Banking for over 50 years, at Kleinwort Benson where he became Chairman and more recently at Goldman Sachs. He started his own company in August 2005, Simon Robertson Associates LLP, now called Robertson Robey Associates, offering corporate finance advice to a limited number of international companies. He is also Chairman of Rolls-Royce Group plc and Deputy Chairman & Senior Independent non-executive Director of HSBC Holdings plc.

TUESDAY 9 APRIL 2013

A Boardroom Conversation with John McFarlane

John McFarlane is Chairman of Aviva plc. He has had a prestigious career in financial services spanning 37 years and was awared an OBE. Mr McFarlane joined us for a Boardroom Conversation on 9 April 2013 highlights of which included his fascinating ruminations on the different styles of corporate governance betwenn the UK and the southern hemisphere. Read more about John McFarlane, and for more information about Bvalco Boardroom Conversations click here.

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