Subsidiary Governance Summit: Creating a Sustainable Future

Pre-event themed table discussions

Join one of our subsidiary governance themed discussions and start networking with your peers. Round table discussion topics will be announced in advance of the event, and you will be able to register for the topic you find most relevant to you.

Welcome

Peter Swabey, Policy Director, The Chartered Governance Institute

The keys to good subsidiary governance

Stretch Break

Section 172, an elevator to better practice

Section 172 of the Companies Act is for some companies a tick boxing exercise, for others a challenge. How can governance professionals ensure they gather the right information to demonstrate how the directors of the subsidiary are carrying out their duties both to their stakeholders and to the company’s culture and strategy? In this session, we examine how one company has implemented s. 172, introduced new processes to support good disclosure and increase the focus on long term decision making.

Moderator:
Stephen Page, Head of EMEA Board Engagement, Nasdaq Centre

Speakers:
Karina Bye, Company Secretary, Aviva Investors, UK Life & Pensions and UK General Insurance at Aviva
Julian Baddeley, Deputy Group Company Secretary and Corporate Counsel, Aviva plc

Networking break and themed table discussions:

Jazz Dhoofer, Global Technology Optimisation Leader, Computershare
Majad Khan, EMEA Client Engagement Manager, Computershare

How will subsidiary governance change after the pandemic?

The panelists discuss lessons learned, new practices introduced and which of those will become the new normal in global subsidiary governance landscape after the pandemic. Does it go back to how it was or evolve, and how regulatory bodies need to adapt to the new reality.

Speakers:
Kirsi Talvimäki, Finance & Licensing Operations Specialist, Nokia Technologies Oy
Aman Sandhu, Assistant Company Secretary, Hotelbeds Group
Chris Butler, Head of Citco GSGS Operations

Stretch Break

Case study: Worldpay, an integrated company 

Worldpay Group plc was an FTSE 100 multinational company with subsidiary entities around the world. It was acquired by Vantiv and subsequently by its now parent, FIS, becoming, in turn, a subsidiary of both companies. This case study showcases many of the risks a merger and acquisition carries: regulatory considerations, integration and layering of control, to name a few. We hear the subsidiary perspective on the challenges and outcomes of cross-border mergers and reflect on how delegates can plan a future mergers and acquisitions with due diligence.

Speaker:
Cerian Tahany, Senior Management Corporate Governance, Worldpay

Ethical supply chain: a dual responsibility

The responsibility of a parent company for the actions of its subsidiaries is a governance dilemma too great to be ignored. In March 2020, the UK Government released its first modern slavery statement, while at the same time, the COVID-19 pandemic amplified the call-out to homogenise social governance policies. Our panellists discuss the importance of subsidiaries of creating an ethical supply chain and minimising the risk of financial and reputational damage to their parent bodies further down the line.

Moderator: Colleen Theron, Director, Ardea International

Speaker:
Malcolm Guy, Managing Director, The Reassurance Network
Anita Punwani, Deputy Chair - Global Board, Institute of Risk Management

Stretch break

Creating a robust framework: a challenging task

If subsidiary governance has a primary aim, it must surely be to minimise the risk of reputational damage or financial penalty in a highly regulated environment. As a separate entity, how can a subsidiary find the right balance of control to avoid conflict of interest from the directors sitting on both boards? How can entities ensure the continuity of good governance throughout the subsidiaries of the group? Our panellists discuss these fundamental questions about what constitutes effective subsidiary governance.

Speaker:
Barbara Wallace, Head of Governance, Board and ExCo, NatWest Group plc
Lee Johnson, Managing Director, Computershare Governance Services, UK

Stretch Break

Case study: resillience in times of pandemic

The COVID-19 pandemic has tested organisations across the world. A variety of challenges specific to subsidiaries - such as local regulations, stakeholders’ expectations and the place of the subsidiary within the organisation - have all had to be considered. In this case study, our subsidiary governance professional looks at how these challenges – including the reputational and financial risks faced by the subsidiary and its parent – have been addressed and reflects upon what the future holds.

Speaker:
Jessica Haynes, Corporate Governance Manager, Rolls-Royce

Closing remarks, conference closes

Peter Swabey, Policy Director, The Chartered Governance Institute