Governance
Our Corporate Governance at a Glance
At First Trustees, corporate governance refers to the principles, guidelines, and practices that support our long-term financial success and value creation for all of our stakeholders.
Our dedication to excellent corporate governance is critical to our operations and reflects not just legal obligations, NSE listing criteria, and widely accepted governance principles but also effective leadership and supervision by our senior management team and Board of Directors.
We regularly host general meetings with our shareholders to collect opinions on our corporate governance framework, and we make every effort to incorporate this feedback through improved policies, processes, and transparency.
Ownership
First Trustees is a subsidiary of First HoldCo Plc., and a leading trust services provider in Corporate Trust, Public Trust, Private Trust, and Estate Planning solutions to clients, emphasising our fiduciary responsibilities.
With a breadth of knowledge spanning four decades, our trust specialists offer seamless solutions in every area of trust arrangement, be it securitization / syndicated lending, wills/estate planning, or bond trusteeship, in the best feasible way. Our team of experienced professionals puts clients’ interests first, ensuring that assets are preserved, protected, and dealt with as intended. As market leaders, we provide clients with unrivalled value regarding what they seek to safeguard and the quality and efficiency of our services.
The Board – Composition, Roles & Function
The Board of Directors is collectively responsible for the long-term performance of the businesses they oversee and the overall group strategy and business model. The management teams, led by the Managing Directors and Chief Executive Officers, are tasked with implementing this plan and managing the daily operations of the firm. This strategy and business model aims to maximize long-term shareholder value.
The Board of Directors governs the company and is supported by various committees, including Audit, Remuneration, and Nominations, each with clearly defined functions. The terms of reference for these committees are reviewed on an ongoing basis.
Engagement with stakeholders
The board actively engages with shareholders to ensure a mutual understanding of objectives between them and the Company, while also managing their expectations. The Executive Directors primarily handle relations with shareholders and potential investors. In accordance with government regulations, First Holdco Plc holds Annual General Meetings that include stakeholders. These meetings provide a platform for questions, discussions, and interactions with stakeholders, both before and during the meeting.
We believe in the importance of impacting our employees, environment and society through sustainable corporate responsibility practices and activities. As a forward-thinking organisation, we focus our attention on both increasing our bottom line and being a good corporate citizen. This is achieved through the shaping or reshaping our framework, business models and policies in line with global trends to deliver benefits to our stakeholders.
We have adopted a Corporate Responsibility & Sustainability (CR&S) approach which aligns with the overall vision and goals of the Merchant Banking and Asset Management group under the strategic framework the FBN Holdings Plc:
- Knowledge & Skills Development
- Sustainable Finance/Investment
- Environmental Sustainability and Energy Investments
Increasing interaction with our workforce has been a central objective, especially during a worldwide epidemic when our top priority was to keep our employees safe. Our internal communications platforms have enabled continuous contact between individuals and teams across our businesses, allowing us to do business in a secure environment.
We proactively encourage integrity in our interactions with our employees, candidates/temporary workers, shareholders, clients, and suppliers, as well as the governments of the countries where we operate.
All our employees, regardless of ethnicity, comply with the laws and regulations of the countries in which they operate.
We are expected to guarantee that our advertising and public communications do not contain any untruths or exaggerations. We are also required to create relationships with suppliers based on mutual trust and to make every effort to pay suppliers on time and according to agreed-upon business terms.
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