About The 100 GroupBe 1 Of 100 – Connected For Better
The 100 Group of Finance Directors represents the views of the finance directors of FTSE 100 and several large UK private companies. Our aim is to contribute positively to the development of UK and international policy and practice on matters that affect our businesses.
Our member companies represent around 90% of the market capitalisation of the FTSE 100. We employ around 6% of the UK workforce and have, for over a decade, consistently delivered more than 10% of the total UK Government receipts through UK taxes paid and generated by our business activities.
By engaging on domestic and international finance and regulatory matters we work to promote the UK as a competitive choice for investment and support long term economic growth.
The 100 Group is organised through a structure of committees. Each committee meets once a quarter to debate emerging topics on the agenda of Finance Directors.
The main committee determines the overall strategic direction of The 100 Group and delegates responsibility for action to the sub-committees. Each sub-committee is chaired by a member of the main committee.
Committee meetings are held in private, and guests are invited by the committee chairman.
Our members are drawn principally from Finance Directors of FTSE 100 companies, and membership is by invitation only. In addition, the Group has some honorary members, principally former chairman.
The views expressed by the 100 Group are informed by members of the committees and the wider membership. Whilst our views are intended to speak on behalf of the Group as a whole, they are not necessarily those of individual members nor their respective employers.
Membership is by invitation and is at the discretion of our Main Committee.
We are happy to consider any application from any business which is UK headquartered and is listed on the FTSE 100, or any which is an unlisted UK based business of a similar size. We are equally happy to consider other membership applications where you see a particular opportunity for collaboration.
If you believe you are eligible for membership and would like to contact us, please click here.
The 100 Group - Our history
The 100 Group can trace its origins back to 1975, when a group called The 100 Group of Chartered Accountants was formed. At that time, members were drawn more widely than Finance Directors.
The first Chairman was Arthur John, and the members quickly decided that it should be a working organisation rather than a social group. The earliest topics covered related to the report of the Sandilands Committee, a UK Government inquiry into inflation accounting.
In 1978, Leslie Pincot (Esso) became chairman, and shortly thereafter it established three standing committees to consider emerging topics. At this time, the group was heavily involved in the role and function of Audit Committees as well as establishing a group to consider the skills and knowledge required by Finance Directors. Accounting standards and tax legislation dominated activities and both have remained at the forefront of the Group’s activities ever since.
Under Ian Tegner’s (Midland Bank) Chairmanship from 1989, the membership criterion was altered. Whereas previously a number of Chief Executives and Company Chairmen had been members, changes were implemented to restrict members to those holding a current role in finance. It was shortly after this move, that the group became known as the 100 Group of Finance Directors.
Throughout the 1990s the Group lobbied on a number of high-profile activities such as pension reform and changes to accounting standards. It also played a leading role in the development of the Cadbury Report.
Since the turn of the century, the Group has played leading roles in the acceptance and development of International Accounting Standards, including the implementation of IFRS in the UK, and more recently the establishment of the International Sustainability Standards Board and the implementation of their newly developed standards.
The Group’s activities continue to be as relevant and important today, as they have ever been.
|Margherita Della Valle