Asset management directors 'risk competency' in multiple board roles

EY survey

Asset managers are the most likely in European financial services to have directors holding multiple board positions, a practice known as ‘overboarding’ that has been deemed risky to their ability to govern a company well by over eight in ten investors.

49% of board members across Europe's wealth and asset management firms hold more than two board positions, according to the latest EY European Financial Services Boardroom Monitor. This is compared to the banking sector, where it is least common for directors to hold multiple board positions, at 39%. One in six asset managers expected to disappear by 2027 Sentiment polling data by EY found investors were wary of company directors working across several boards. More than eight in 10 (82%) of European investors said they believed holding board positions at three or more firms ...