Mazars appoint Guy Jubb as non-executive director

12 December 2017 3 min. read
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Mazars have added Guy Jubb to their team of independent non-executives. Jubb, an honorary professor at the University of Edinburgh, will sit on the firm’s UK public interest committee, effective immediately.

Guy Jubb, who presently sits as member of the council of the Institute of Chartered Accountants of Scotland (ICAS), where he chairs their constitutional panel and strategy and research advisory group, has enjoyed a long career that has taken him across the Atlantic and back again. Having graduated from the University of Edinburgh as a Bachelor of Commerce in 1973, he qualified as a chartered accountant in 1976, before pursuing a career in accounting, merchant banking, and corporate finance in London and New York.

In 1986 he returned to Edinburgh to join the Investment Department of Standard Life, where he would spend the next 30 years of his working life. Having set up and managed its Private Equity and Smaller Company Teams, he pioneered and, for over 20 years, led its Governance & Stewardship Team until he retired in March 2016.Guy Jubb

Beyond his time at Standard Life, Jubb was also a member of the Standing Advisory Group of the PCAOB, the US audit regulator, from 2014 to 2016. In 2015, he was the recipient of the Institute of Corporate Secretaries and Administrators’ (ICSA) Outstanding Achievement Award.

Jubb is also an honorary professor at the University of Edinburgh Business School. Earlier in the year, in his academic capacity with the school, Jubb published an article slating the UK’s present corporate culture, contending that the UK’s corporate governance was failing and in dire need of reform, especially concerning the legal duty of directors, and the inflation of executive pay. At present, the CEOs of top FTSE firms take home an average of £2 million more per annum than their European counterparts.

In the piece, he remarked, “The legal duty of directors is pivotal to a company’s governance. In compliance with these duties, directors have rewarded chief executives with above median pay rises to retain their services and, in theory at least, promote the success of the company. If they had not done so, would they be in breach of their legal duty? In essence, the law has given a legal licence to implementing excessive boardroom pay practices that fail to take account of the public interest.”

Now, Mazars will hope to employ Jubb’s critical eye in his new role as an independent non-executive director, placing him on the firm’s UK public interest committee. A non-executive director is typically involved in policy making and planning exercises, in addition to the monitoring of the executive directors and acting in the interest of the company stakeholders.

Earlier in the year, Mazars announced a reshuffle that gave the firm a new UK executive team. Having reappointed Phil Verity as the firm’s UK Senior Partner, the reappointments of Tim Davies, Alistair Fraser and Nigel Grummitt were also confirmed, alongside new appointments in Jac Berry, Elisabeth Maxwell and Ian Wrightson. The leadership team is tasked with the development, and implementation, of the firm's strategy in the UK.