June Felix makes £3.5 million as IG Group CEO in FY21

Electronic trading major IG Group Holdings plc (LON:IGG) is set to hold its Annual General Meeting (AGM) on 22 September 2021 at 14:00.

The list of resolutions to be put to vote at the meeting includes a vote on the Annual Report and Accounts, as well as a vote on the Directors’ Remuneration Report. The latter vote is advisory and therefore will not affect the remuneration or benefits received by any Director.

The annual report includes information on the remuneration of IG’s executives, including the Group CEO June Felix.

Ms Felix received £3,544,000 in total remuneration in the year to May 31, 2021, down from £3,640,000 in the previous year.

Let’s note that the salaries for the Executive Directors for 2021 will be increased in line with the wider UK workforce by 0.73%. Ms Felix’s new salary, which applies from 1 June 2021, is £614,500.

There are no planned changes to the incentive levels in the 2022 financial year, with the maximum opportunity under the SPP remaining at 500% of salary for the CEO and 400% of salary for the other Executive directors. SPP awards for the 2022 financial year will continue to be based 55% on Eps performance, 25% on Tsr performance relative to the FTSE 250 (excluding investment trusts) and 20% on non-financial measures.

The company has been keeping abreast of remuneration regulatory developments, particularly with the introduction of the FCA’s new Investment Firms prudential regime (IFPR) and the EU’s Investment Firm directive and regulation (IFD/IFR), which will impact IG Group’s regulated Entities – including IG Index limited, IG Markets limited, IG Europe GmbH, spectrum MTF operator GmbH and Brightpool limited – from the 2023 financial year onwards for UK companies and from 26 June 2021 for non-UK companies.

The Group is in the process of implementing these new rules and will consult with shareholders if any substantive changes are required to the directors’ remuneration policy.

The committee is satisfied that IG’s outcomes for the 2021 financial year are aligned with the interests of shareholders, that they reflect performance over this challenging year and that the policy has operated as intended.

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