Informed the VOICE of INVESTOR RELATIONS in the UK ISSUE 93 WINTER 2016/17
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ChaIr’s leTTer | servICe prOvIders | persOnal vIew | IndusTry news InfOrmed THE VOICE OF INVESTOR RELATIONS IN THE UK ISSUE 93 WINTER 2016/17 The Challenges and OppOrTunITIes Of 2017 InsIde ... BEST PRACTICE IN 2017 AND BEYOND a special 21-page feature BEST PRACTICE AWARDS 2016 a full report on the annual dinner, with all winners and photos ... plus This issue of Informed Current IR topics in Germany is sponsored by: Three ways to jump-start IR for SMEs Courses and Events in 2017 Informed editorial calendar for 2017 THE INVESTOR RELATIONS SOCIETY 31 st ANNUAL CONFERENCE A New World Order: The Ascent of IR TUESDAY 20 TH JUNE 2017 KINGS PLACE, LONDON N1 9AG Given the seismic changes under way in the In this conference, we will explore this new geopolitical, economic, regulatory and capital landscape, in which the art and science of IR markets landscapes, now is the time for IR to shine in the face of enormous challenges in stand out and take a leading role in the investor communications. Join us for a corporate sector. compelling event that positions IR at the forefront of a new world! We face a discernible change in the mood of politics, in our business environment and in For all exhibition and sponsorship enquiries, evolving regulations, with their impact on please contact Robert Dann at market structure. We also face more [email protected]. For general technological developments a post-Brexit enquiries, please contact Alison Hamilton at world. [email protected]. Book your tickets now at www.irs.org.uk or call +44 (0) 20 7379 1763 Thank you to our 2016 annual sponsors: INVESTOR ANALYTICS InfOrmed wInTer 2016/17 COnTenTs 17 Best practice IR in 2017 and beyond 17 How the Society leads the way in best practice 4 ChaIr’s leTTer Sallie Pilot, Black Sun seismic changes shaping 2017 David Lloyd-Seed, chair, IR Society 19 Best practice IR in the Brexit and Trump era Gillian Karran-Cumberlege and Emily Baker, Fidelio Board Development and Executive Search 6 news frOm The sOCIeTy 23 IR and the Trump shock sydorowitz and parris join board Richard Davies, RD:IR new Ir society members (p7) 24 IROs must be proactive society awards new fellowships (p8) Claire Lavery, Rivel Research Group macmillan coffee morning (p8) 26 The aftermath of the 2016 voting shocks Karen Keyes, Aimia 6 a persOnal vIew 28 Illuminating value through best practice reporting members will have a busy new year agenda Jack Craze, Stratton Craig John Gollifer, general manager, IR Society 30 The best practice journey Julie Wilford, Design Portfolio 10 IndusTry news 32 Are you a digital dinosaur? Investment association calls to end quarterly reporting Julian Smith, BRR Media Three ways to jump-start Ir for smes (p12) 33 Best practice first principles Andrew Griffin, Oakhall Brian Rafferty, Taylor Rafferty Current trends and discussions in germany (p14) 34 The strategic role of the IRO Kay Bommer, German IR Association (DIRK) Ramona Tipnis 36 Disclosure best practice – the Singapore perspective Tan Boon Gin, SGX Best WINNERS Practice 56 edITOrIal sChedule 2017 Informed editorial schedule and previous issues Awards FULL REPORT 2016 AWARDS 57 prOfessIOnal develOpmenT PHOTOS Courses (pages 57-59) Certificate in Investor relations (page 60-63) SPONSORS diploma in Investor relations (page 63) NETWORKING CIr passes (page 8) 38 64 evenTs The Ir society events programme we wish our members and readers the compliments of 65 Ir servICe prOvIders dIreCTOry the season and a happy find help in this listing of Ir service providers new year. 70 Ir sOCIeTy bOard names, roles and email addresses Ir sOCIeTy 3 InfOrmed ChaIr’s leTTer The Investor relations society 5th floor, 30 Coleman street, london, eC2r 5al Tel: 020 7379 1763 www.irs.org.uk seismic changes THE MANAGEMENT TEAM shaping 2017 John gollifer general manager [email protected] Our 16th awards dinner was held on Tuesday 24th november at one of our alina ardeleanu favourite venues by the Tower of london and was hosted by the inimitable and financial controller [email protected] thoroughly amusing gyles brandreth. It was another fantastic evening and many congratulations must go to all those shortlisted and of course to the winners. robert dann head of marketing and membership you’ll find more details on each of them and why they triumphed in our feature [email protected] starting on page 38. alison hamilton The Ir society, in its 36th year, is now more than half way through its fourth head of events decade – one that is turning out to be our most dynamic, if not seismic. we and [email protected] the companies we work for are having to re-think the way we engage with the laura hayter markets. we can no longer rely on old services and relationships that helped us head of policy and communications [email protected] deliver incremental buyers and a growing share price. Janet Kelly head of professional development A changing world [email protected] we live in a more regulated environment. There is no doubt that regulation has nicole solomon changed – and will continue to change – the way we operate. The introduction of marketing and professional development mifId II has the potential to fundamentally change the research industry. This may executive [email protected] mean more thematic research – a good thing one could argue – but that may rebecca white demand more from companies. Quality will undoubtedly rise through more marketing and membership associate discerning use of capital to reward good investment advice, but quantity may also [email protected] increase the burden on IrOs. Changes mean that we are also having to do more and more in-house to service THE OFFICE HOLDERS our existing investors and attract new buyers. adding further pressure to an david lloyd-seed already stretched resource. Chair The fallout from brexit will no doubt bring further changes as london battles to [email protected] remain at the epicentre of global capital markets. david walker On a more positive note, digital services and platforms are steadily emerging deputy chair [email protected] that have the ability to put far richer information in the hands of the Ir and ultimately make us look even smarter in front of our bosses! fay dodds Treasurer what we say is more widely disseminated and more readily digestible. This, of [email protected] course, means that there are more opinions on what we say – sadly, all too often James eves from the disgruntled few behind closed doors in the echo chamber of social Company secretary media. [email protected] with everything we have said no more than a google away – we are seeing old for a full list of the Ir society board and the orders reversed. for example, the media, facing more urgent digital timelines, is committee chairs, see last editorial page. increasingly taking its lead from the capital markets. as such we are seeing an ever INFORMED closer alignment of Ir and financial pr, with the latter now often coming under the wing of Ir. John Thistlethwaite publishing assistant [email protected] A more socially aware and responsible environment alex murray The millennial generation expects more of a social contract with the business publisher community around them. Just making sure you have a pot of money at the end of [email protected] a long career is no longer the norm. That pot of money is expected to be put to Informed is published on behalf of the good use in socially and ethically acceptable ways, which is inevitably feeding in Ir society by silverdart publishing to the investment decisions of our shareholders. we, therefore, need to think Tel: +44 (0)1285 831 789 www.silverdart.co.uk intelligently about how we bring these parts of our businesses to life in our investment story. editorial enquiries can be addressed either to we are at last seeing joined-up thinking of business models, strategy, risks, laura hayter or to alex murray. performance measures and, importantly, rewards. but this is adding to the views expressed in this publication are not disclosure burden resulting in ever longer report and accounts. we as IrOs need necessarily those of the society. © 2016 Ir society. to take control of the message and ensure that what we are saying is concise, clear and digestible. 4 Ir sOCIeTy wInTer 2016/17 ChaIr’s leTTer The industry and IR Society is sauce that ensures a full and fair responding to the changes valuation – the lifeblood of any IrO. Our industry is responding to all these we are doing Those shortlisted for our awards changes and is shaping up and becoming demonstrated how to adhere to, and more fit for purpose – the backgrounds ourselves proud as deliver, best practice in the best way and qualifications of people moving in to ‘ possible. Ir are now really quite impressive and an industry The seismic changes we are the profile of Ir in companies continues experiencing have helped shape our to evolve. industry into an essential part of a I am delighted to see that the pilot for industry nor would the s’ociety be the company’s senior management armoury our new diploma is under way and I force it is today, increasingly on a global and we are seeing the role of IrO move look forward to reporting on its progress. scale, without their contribution. Their ever closer to being a part of the C-suite. following this pilot, we aim to launch the names are on page 8 and I would like to we really are seeing the ascent of Ir – a diploma in full next year and hope to see thank them all on behalf of the society.