Directors' Remuneration Report Launch
This report, our third edition since 2015, is a product of in-depth analysis and an enhanced understanding of the evolving landscape of board remuneration practices. In 2024, we aimed to go beyond the basics, examining the diversity within our industry with a closer look at asset size, board structure, and specific sub-sector distinctions. Through these targeted insights, we provide members with a valuable resource to evaluate competitiveness and adapt remuneration practices to better align with the skills, responsibilities, and dedication required from today’s non-executive directors.
The findings underscore the reality that one-size-fits-all solutions are not sufficient when addressing the nuances of remuneration. Differences in factors such as asset size, operating costs, and board composition remind us that each institution’s needs are unique. Additionally, new insights into benefits such as travel allowances, technological support, insurance, and wellness provisions offer our members avenues to further enhance the value and appeal of board roles.
With this 2024 edition, we have expanded our lens to provide even more relevant benchmarks. For the first time, remuneration is analysed by specific financial categories, allowing us to deliver insights for sectors such as insurance and takaful independently. Moreover, we now include analysis on retainer fees for various board committees, reflecting our commitment to keeping pace with the needs and expectations of the financial industry.
We would like to extend our appreciation to Bank Negara Malaysia and PIDM for their continuous support, to Aon for their expertise and guidance, and to our industry members who contributed to this comprehensive study. Together, we are not only benchmarking practices but setting the standard for excellence in board governance across the financial industry.
Event Details:
Event: Directors’ Remuneration Report 2024 Launch
Date: Monday, 11 November 2024
Venue: Asia Institute of Chartered Bankers (AICB), Azman Hashim Auditorium
Time: 2:30 PM – 5:00 PM
Agenda Highlights:
- Strategic priorities of Boards.
- Key findings on Board composition and governance.
- Comprehensive review of Board remuneration, including fees, benefits, and additional practices.
- Comparative analysis across regions and sectors.
This exclusive event will also be attended by key representatives from Bank Negara Malaysia (BNM), Perbadanan Insurans Deposit Malaysia (PIDM), and other LFIs that have contributed to the survey.
Agenda
2:00pm – 2:30pm :
Registration
2:30am – 2.35pm :
Welcome Address
YBhg Datuk Kamaruddin Taib, Chairman of FIDE FORUM
2:35pm – 2:50pm :
Keynote Address
YBhg Datuk Jessica Chew Cheng Lian, Deputy Governor of Bank Negara Malaysia
2:50pm – 3:00pm :
Launch of Directors' Remuneration 2024 Report
3:00pm – 3:10pm :
Break
3:10pm – 4:25pm :
Presentation of Key Findings from Directors' Remuneration Report 2024
4:25pm – 4:55pm :
Q & A
4:55pm – 5:00pm :
Closing Remarks
Mr Tay Kay Luan, Chief Executive Officer of FIDE FORUM
5:00pm :
End of Session