Board and trustees

The Group hasn’t been subject to any adverse regulatory findings in the last twelve months that have resulted in enforcement or other actions. The Group Board is recruited to ensure that diversity sits at the highest decision-making level. The Board is a mix of different backgrounds, cultures and gender comprising 37 percent female members, 33 percent BAME members and no members with a disability. The average age of Board members is 57 and the average tenure stands at 3.5 years. Turnover for management and Board in the last two years stands at 43 percent. The maximum tenure for a Board member is six years for members who joined the Group after 1 July 2019. For members who joined the Board prior to this date, the maximum tenure is nine years. Non-Executive members account for 90 percent of the Group Board. A succession plan has been provided to Group Board within the last 12 months. The roles of Board Chair and the Group CEO are held by two different people. The Group handles conflicts of interest at the Board through standing orders. Declarations are made annually and at each Board meeting. All members of Audit and Risk Committee meet the minimum requirement for skills and competencies, which includes financial experience. There are currently no executives on the Group Remuneration Committee. The last independently-run Board effectiveness review was conducted in February 2023.