Corporate Governance

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Our Board recognises the importance of good corporate governance and works to ensure that the Group’s governance arrangements deliver a well-run business which has at its heart its clients and which recognises its responsibilities not only towards shareholders but also other stakeholders such as employees, the wider market and society. See our Section 172 statement for more information on how our Board has considered stakeholders as part of its decision-making process.

We strongly believe that a robust corporate governance framework is important to the long-term success of the firm. This allows the Board to ensure effective decision-making and a system of risk management and internal controls are maintained. We therefore follow the Wates Corporate Governance Principles which provide a framework to help large unlisted private companies meet legal requirements while promoting long term success.

The Board Committees

The Board delegates certain responsibilities to Board Committees to help discharge its duties. The Board Committees play an essential role in supporting the Board, giving focused oversight of key areas and aspects of the business. The Board Committees are in turn supported by various executive and management committees. While the Board retains overall responsibility, a sub-Committee structure allows more time for closer scrutiny by Board Committees prior to any consideration required by the Board.

The role and responsibilities of the Board and Board Committees, including sub-Committees, are set out in formal Terms of Reference to ensure there are clear lines of accountability and responsibility to support effective decision-making across the organisation. These are reviewed at least annually as part of the review of the corporate governance framework. The Board has created the following three Board Committees to help it fulfil its oversight duties and responsibilities:

• Nominations Committee
• Risk & Audit Committee
• Remuneration Committee

See our Corporate Governance report for more information on our governance framework including activities of the Board and Board Committees and our Corporate Responsibility report for more information on how we keep corporate responsibility at the heart of our business.

Board Diversity

We take diversity and inclusion (“D&I”) seriously and recognise the importance of ensuring that our membership reflects diversity in its broadest sense. We aspire to be a diverse Board combining different skills, experience, gender, ethnicity, age, disability, socio-economic, educational and professional background, and other relevant personal attributes to provide the range of perspectives, insights and challenge needed to support good decision making by the Board. More information on our approach to D&I can be found in our Board Diversity & Inclusion Policy.

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The Board

The Board sets the strategic direction of Tilney Smith & Williamson and oversees its implementation by the Executive Team

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Executive Team

The Executive Team are responsible for developing and executing the strategy and running the business on a day to day basis

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