Board Audit Committee
The Audit Committee is chaired by Frank Vermeulen and comprises Sheikh Abdullah Jabar Al-Ahmed Al-Sabah, Ibrahim Al-Qadhi and Neil Holden.
The Committee’s main responsibility is to review reports from management, the internal auditors, and the external auditors regarding the accounts and the internal control systems implemented throughout the Bank, along with consideration of both interim and annual accounts. It also makes recommendations to the Board on the appointment of the auditors and their audit fee.
Board Risk Committee
The Risk Committee is chaired by Neil Holden and comprises Frank Vermeulen, Ibrahim Al-Qadhi and Masood Akbar.
The role of the Risk Committee is to recommend to the Board the principles of BLME’s risk policy and risk management, and to oversee the management of the risk structure and financing portfolios. |
Board Remuneration Committee
The Remuneration Committee is chaired by Neil Holden and comprises Sheikh Abdullah Jaber Al-Ahmed Al-Sabah and Masood Akbar.
The Remuneration Committee considers matters relating to the overall reward framework across BLME, including policy for Executive Management and their individual remuneration awards. In addition, it will advise on the remuneration policy for the Group’s employees.
Board Nominations Committee
The Nominations Committee is chaired by Yacob Yousef Al-Muzaini and comprises Sheikh Abdullah Jaber Al-Ahmed Al-Sabah and Frank Vermeulen.
The Nominations Committee is responsible for matters relating to the composition of the Board, including the appointment of new Directors, and making recommendations to the Board as appropriate.
The Committee is also responsible for overseeing the annual performance evaluation of the Board, its principal Committees and the Chairman. |
The Role of the Chairman and Chief Executive
The roles of Chairman and executive management, led by the Chief Executive Officer, are separate and clearly defined:
The non-executive Chairman, Yacob Yousef Al-Muzaini, is responsible for the leadership of the Board, ensuring effectiveness in all aspects of its role, reviewing the Board’s agenda and conducting Board meetings, and ensuring effective communication with shareholders and the conduct of shareholders meetings.
The executive management is led by the Chief Executive Officer, Humphrey Percy, who has been delegated responsibility by the Board for the day-to-day management of the Bank within the control and authority framework set by the Board. The Finance Director, Richard Williams, and Head of Markets and Head of Asset Management, Nigel Denison, assist the Chief Executive Officer in managing the business.
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