AIM 26 Compliance

1. Description of business

The Group is a financial services support provider, capitalising on the investment management industry’s shift to investing in Alternatives and the outsourcing of non-core services. As a vertically integrated industry specialist, the Group seeks to be a leading services and infrastructure provider for Alternatives fund managers and asset owners, servicing clients at key stages of their development.

The Group’s business was founded in 2010 by Matthew Hudson, originally as a specialist legal firm providing advice to asset managers. As the Alternatives sector expanded and the regulatory environment faced by its clients became increasingly complex, the Group diversified its business to offer a broad range of specialist asset management consultancy services to fund managers and investors. These services assist clients with their legal, regulatory, reporting, investment consulting, investor relations and other administrative requirements both in terms of the set-up and continued operation of fund management activities. The Group also provides benchmarking and data and analytics services, including ESG. By facilitating the outsourcing of non-core services, in whole or in part, the Group enables fund managers and investors to operate more efficiently and reduce their increasing regulatory and administrative burden.

The Group operates in the global asset management market and is focused on the Alternative investments subsector within that market, which includes private equity, real estate funds, hedge funds, infrastructure funds and private credit. The global Alternatives market is expected to grow to USD 21.1 trillion by 2025, an increase of 109% on 2016. As this sector grows, so does the infrastructure required to support it, enabling increasing opportunity for a multi-service provider such as the Group. Core to the Group’s growth strategy is capitalising on trends within this growing industry, primarily the increasing levels of regulation driven by pressure on regulators to ensure greater transparency is provided to customers. This trend creates an opportunity for providers of specialist expertise across the domains of legal services, fund management operational support, regulatory compliance solutions, administration services, investment consulting and benchmarking, all of which are provided by the Group.

The Group seeks to scale the business through four key routes; organic growth, acquisitions, investing activities and franchise opportunities.

The Group has approximately 200 staff and over 1000 clients, of which more than 700 of such clients are institutional investors. The assets managed and advised by the Group’s clients exceed USD 1 trillion. Since inception, the Group has grown underlying revenue organically, through acquisition and through launching its own start-up businesses, from GBP 11.2 million in FY 2017 to GBP 20.3 million in FY 2020. The Group is headquartered in Jersey and has operations in Jersey, the UK, Guernsey, Luxembourg, the Netherlands, Switzerland, Italy, the US and Canada.

2. Names of directors and biographical details
Geoff Miller
Non-Executive Chairman
Geoff has over 20 years’ experience of working in financial services, both as a rated equity Analyst covering investment banks, asset managers and investment companies and as a senior fund manager before acting as a Director of leading financial services companies for the past 15 years. Those companies span three continents and a broad range of financial services activity. He is a Director of several private companies and a Principal in a venture capital business based in Guernsey, focused on disruption in financial and technology sectors.
Matthew Hudson
Chief Executive Officer
Matthew Hudson founded the Group in 2010. He has over 30 years of private equity experience, both as a lawyer and as an investor. Matthew is a well-known industry figure, regularly speaks on new developments concerning the Alternative Assets industries and has authored two leading texts on funds and fund managers. Matthew co-founded the private equity group of SJ Berwin, which became a market leader in Europe. He re-established the O’Melveny & Myers London office and the London office for Proskauer, a leading east coast US firm.
Peter Connell
Chief Financial Officer
Peter previously held numerous directorships including: Finance Director of Mayo Wynne Baxter LLP; Finance Director and CEO at Hastings Insurance Services Limited; founding Chairman of Advantage Insurance Company (Gibraltar); and Non-Executive Director of Creechurch Managing Agency at Lloyd’s. Peter is a Fellow of the Institute of Chartered Accountants in England and Wales (FCA) and qualified while working for Peat, Marwick, Mitchell and Co (now KPMG).
Odi Lahav
Chief Operations Officer
Odi is the COO of MJ Hudson. He is responsible for the data & analytics division, the investment consulting business, and technology strategy. Odi also acts as the Executive Sponsor for ESG and sustainability for the group. He is a Member of the Executive Committee and Chair of the Operations Committee and the Environmental Sustainability sub-Committee and is a director of the MJ Hudson PLC Board. Odi has c.25 years of professional experience as an actuary, primarily working in institutional investment and risk, with a focus on strategy and alternative investments.
Jonathan Bale
Partner
Jonathan is the Principal of the law practice in Jersey. He joined the Group following its merger with VerrasLaw, which formed the Group’s Jersey legal practice in 2014. Jonathan was the founding partner of Verras Law. Prior to this he was employed by law firms Walkers (Jersey) and Ogier (Jersey) where he worked as a Jersey Advocate and a legal assistant respectively.
Mark Pattimore
Managing Director
Mark is the Managing Director of the Group’s International Administration sub-division, which he set up in 2015. At the beginning of 2018 Mark also started the Fund Administration business in Guernsey. Mark has over 35 years of experience in financial services and is the former chairman of Guernsey Association of Trustees. Mark is a Chartered Accountant, and qualified at Peat, Marwick, Mitchell and Co, (now KPMG) in 1986.
Andreas Tautscher
Non-Executive Director
Andreas has over 30 years’ experience in the financial services industry, with particular experience in banking, fiduciary services, investment services and fund management. For the last ten years of his Deutsche Bank career, which spanned from 1994 to 2018, he was a C suite executive with a regional and business responsibility reporting to group board members. He also sat on the Virgin Group board as a Non-Executive Director which coordinated the whole of the Virgin group businesses. Andreas is a Chartered Accountant and qualified at PWC in 1994.
Charles Spicer
Non-Executive Director
Charles is an experienced Director of and Adviser to public and private companies. Charles is a member of the Audit & Risk Committee. He is Non-Executive Chairman of Creo Medical Group plc, IXICO plc and 11 Health & Technologies Limited. He is a Chair of the UK Department of Health’s Invention for Innovation (i4i) Funding Panel. Previously, he was a Director of Aircraft Medical which was acquired by Medtronic Inc. in December 2015, and Stanmore Implants which was acquired by Stryker Inc. in April 2016.
3. Board Observers

Please see a list of board observers and their roles below.

  • Guy Grayson
    Group General Counsel
    Guy is responsible for setting MJ Hudson’s legal strategy and for selection of its legal advisors. He is also involved in the management of regulatory compliance and risk control.
  • Trevor Goodman
    Managing Director- Operations
    Chair of the Legal, Risk and Compliance Committee
  • Charlene Cowen
    Director | People and Wellbeing
    Charlene heads up the group’s people and wellbeing function.
4. Board commitees

Audit and Risk Committee

The Committee’s Terms of Reference can be accessed here.

The Audit and Risk Committee shall have at least two members and each such member shall be an independent non-executive director. Where possible, the Audit & Risk Committee will include at least one member of the Remuneration Committee. The initial members of the Audit and Risk Committee following Admission will be Andreas Tautscher, as chairman, and Geoffrey Miller. At least one member of the Audit and Risk Committee should have recent and relevant financial experience. Appointments to the Audit and Risk Committee shall be made by the Board. The Audit 34 and Risk Committee shall meet at least four times each year and any other time as required. In addition, the Audit and Risk Committee shall meet regularly with the external auditors of the Company, typically once at the planning stage before the audit and once after the audit at the reporting stage. At one or more of these meetings, the Audit and Risk Committee shall have time to meet the external auditor without management being present. The Audit and Risk Committee also has responsibility for ensuring that the Company has in place the procedures, resources and controls to enable compliance with, inter alia, the AIM Rules for Companies and the QCA Code

The Members of the Committee are:

  • Andreas Tautscher (Chair)
  • Geoffrey Miller
  • Charles Spicer

Remuneration Committee

The Committee’s Terms of Reference can be accessed here.

The Remuneration Committee shall have at least two members who shall each be independent non-executive directors. The initial members of the Remuneration Committee will be Geoff Miller, as chairman, and Andreas Tautscher. The members of the Remuneration Committee shall be appointed by the Board. The Remuneration Committee shall meet at least two times each year. The Remuneration Committee shall, among other matters: a) determine and agree with the board the framework or broad policy for the remuneration of the Company’s chairperson and the executive directors including pension rights and compensation payments. The remuneration of non-executive directors shall be a matter for the board. No director or senior manager shall be involved in any decisions as to their own remuneration; b) review the ongoing appropriateness and relevance of the remuneration policy; c) review for approval by the board the design of, and determine targets for, any performance related pay schemes operated by the Company and approve the total annual payments made under such schemes; and d) review the design of all share Incentive Plans for approval by the board and shareholders.

The members of the Committee are:

  • Geoffrey Miller (Chairman)
  • Andreas Tautscher
5. Countries of incorporation/operation

The Company was incorporated and registered in Jersey under the Companies (Jersey) Law 1991 (as amended) with Company number 129535.

The company law rights of shareholders are governed by Jersey Law. The rights of shareholders may, in some respects, be different from the rights of shareholders in a UK incorporated company.

The Company’s main country of operation is the United Kingdom. The Group also has operations in Canada, Guernsey, Ireland, Jersey, Luxembourg, Netherlands, and USA.

6. Certificate of incorporation

Click below for access.

7. Shareholder information

Click below for shareholder information.

8. Financial information

Click below for annual and interim reports.

9. Admissions document

Click below to view our admissions documents.

10. NOMAD / Registrars / Auditors / PR / Legal Adviser / Receiving Agent

Nominated Advisor and Joint Broker: Cenkos Securities plc, 6.7.8. Tokenhouse Yard, London, EC2R 7AS

Registrars: Link Group, 10th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL

Auditors: Ernst & Young LLP, Royal Chambers, St Julian’s Avenue, St Peter Port, Guernsey, GY1 4AF

Legal Adviser: Walker Morris LLP. 33, Wellington Street, Leeds LS1 4DL

Receiving Agent: Link Market Services Limited, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU

11. Corporate governance code

Click below to view corporate governance information.

12. Takeover code

MJ Hudson is subject to the UK City Code on Takeovers and Mergers.

13. Company secretary

Jonathan Fraser Bale

14. Articles of association

Click below to view articles of association.

15. Trading information

Click below to view trading information.

16. AIM securities in issue

Issued Share Capital: The total number of MJH ordinary shares in issue is 172,627,765

Shares held in Treasury: 0

17. Significant shareholders

The company has been notified of the following interest in 3% or more of the issued ordinary share capital of the Company.

Shareholder Number of share % of issued share capital
Matthew Hudson 39,180,704 22.70%
Canaccord Genuity Group 17,760,075 10.29%
Somers Limited 16,541,698 9.58%
Danske Bank 12,669,021 7.34%
AXA Investment Managers 10,900,000 6.31%
Katherine Hudson 8,517,340 4.93%
Polygon Group Limited 6,935,598 4.02%
Emily Devlin 5,352,045 3.10%
18. Exchanges or trading platforms

The Company’s shares are quoted and traded on the AIM market of the London Stock Exchange. The Company is not listed on any other exchanges or trading platforms.

19. Details of any restrictions on the transfer securities

There are no restrictions on the transfer of the Company’s AIM securities.

20. Circulars to shareholders

No circulars have been issued to shareholders.

21. Notification of major holdings

Click below to view out TR1 Notification Forum.

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