Chief executive Sandy Crombie, who took up his post a year ago, waived both his annual bonus and cash payment from the company’s long-term incentive plan, while John Hylands, group finance director, will give up his cash payment from the incentive plan. Hylands will retain his annual bonus, though.
Hylands, who is in charge of the insurer’s demutualisation project, is to be replaced by a new finance director with public company experience ahead of the planned flotation on the London Stock Exchange next year. Crombie hopes to have someone in place by July this year, the insurer said.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.