Nick Land has been appointed Chairman of The Guidelines Monitoring Group, the body established to review the private equity industry’s conformity with the Walker Guidelines.
In addition, Glyn Parry has been appointed as an independent member of the Group.
Land is a non-executive director on the boards of the Financial Reporting Council (FRC), Vodafone Group, Alliance Boots, BBA Aviation and the Ashmore Group. Nick is a chartered accountant and retired as Chairman of Ernst & Young LLP in 2006. He is the Chair of the FRC’s Audit and Assurance Council and a member of its Codes and Standards Committee. Land is taking over the chairmanship from Sir Michael Rake who has stepped down having served in that role since the inception of the Group in March 2008.
Parry is the Director of Group Financial Control at BT Group with executive responsibility for the group’s financial reporting obligations as a FTSE 30 UK listed company with a dual US listing. Parry is a chartered accountant and worked at PwC prior to joining BT in 2002. He is taking over from Alan Thomson as an independent member of the Group.
Baroness Jeannie Drake will continue to serve as the third independent member of the Group alongside two industry representatives: Robert Easton, Managing Director at The Carlyle Group; and Gerry Murphy, Senior Managing Director at The Blackstone Group. The Group monitors its governance arrangements regularly and the composition of the Group is designed to give the independent members a majority.
"I look forward to working with the Group over the coming years given its essential oversight role in the private equity industry,” says Land. “This includes meeting and exceeding our stated aim of ensuring disclosure and transparency levels emulate those seen in the FTSE 350. However, more importantly, the Group must continue to develop the Walker Guidelines so they remain relevant in line with changing reporting requirements and promote quality, focused and informative disclosure.”
