Governance

An effective governance framework is key to London CIV’s long term success and sustainability and our legal and regulatory requirements. Our Client Funds are our shareholders and it is characterised by high levels of formal and informal Client Fund and shareholder engagement.

This includes engagement throughout the development of investment funds to meet the needs of clients and the ongoing flow of information about investment manager oversight and London CIV.

This includes a formal Shareholder Committee and matters reserved for the approval of all Shareholders complemented by more informal arrangements which include a Responsible Investment Reference Group (RIRG) and Cost Transparency Working Group (CTWG). 

Committee Structure

Major decisions, including approval of the budget, strategic objectives and business plan are reserved to shareholders in General Meeting as set out in a Shareholder Agreement.

Certain decisions require approval from all (or a majority of) shareholders. There are two meetings each year of all shareholders and quarterly meetings of a Shareholder Committee representative of shareholders. The Committee considers all reserved matters, emerging issues and corporate and financial performance. In addition, there are two shareholder nominated directors who are Leaders of London Local Authorities and a Treasurer Observer (s151 officer) on the Board. Information about individual Board members can be found here.

The overall strategic direction, management and general policy of London CIV is vested in the Board, which is responsible for major decisions unless reserved to shareholders. The Executive Directors, led by the Chief Executive, are responsible for the day to-day management of the company and there is an Executive Committee which is attended by other senior managers in the firm. The Board Committees are an Investment Oversight Committee (IOC); a Compliance, Audit, and Risk Committee (CARCO); and a Remuneration and Nomination Committee (RemNomCo) which includes the Chair of the Shareholder Committee amongst its membership. The Shareholder Committee is a consultative committee to the Board. You can read more about the work of the Board and Committee in the Annual Review. 

© London CIV 2021
London LGPS CIV Ltd. is a private limited company, registered in England and Wales, registered number 9136445. Registered office 70 Great Bridgewater Street, Manchester, M1 5ES. Authorised and Regulated by the Financial Conduct Authority number 710618. Registered VAT number 223 3802 40.

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