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More about our committee-based structure

Our Committees

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.

the 100 group committee structure

Main Committee

Our Aims

The committee’s aim is to contribute positively to the development of UK and International policy and practice on matters that affect our businesses, including taxation, pensions, financial reporting, corporate governance and capital market regulation.

Our Role

The main committee is responsible for setting the strategic direction of The 100 Group. It regularly meets with representatives from the UK Government, the International Accounting Standards Board, the Institute of Chartered Accountants of England and Wales, the Financial Reporting Council, investor groups and similar bodies across Europe.

The committee communicates with its members through regular email newsletters, updates to its website and through networking events. The committee’s day-to-day activities are supported by KPMG.

Chairman Brian Gilvary

Brian GilvaryBrian Gilvary is BP’s Chief Financial Officer and Board Director with over 30 years’ experience of working in the oil and gas sector. His current role has accountability for all of the typical finance functions of a large corporate, along with the Commodity Trading and Shipping Tanker divisions. He chairs the Group Financial Risk Committee.

He is a Non-Executive Director and Audit Committee member of Air Liquide, a Non-Executive Director and Chairman of the Audit Committee of The Francis Crick Institute and a Non-Executive Director and Vice Chair of the Audit Committee of the Royal Navy.

He served on the Board and Audit Committee of the Russian Joint Venture TNK-BP over 2003-06 and 2010-13. He was a member of the UK Treasury Financial Management Review Board 2014-17 and has served as a member of HRH Prince of Wales’ Business in the Community Rural Action Leadership Team and the International Employee Engagement Campaign 2007-09.

He is a member of the Trilateral Commission. He has a PhD in Mathematics from the University of Manchester and is an Honorary visiting Professorship in the faculty of Business and the faculty of Engineering & Physical Sciences. Brian is a Liverymen of the Worshipful Company of Tallow Chandlers and was made a Freemen of the City of London in 2017. He has an Honorary DSc from the University of Sheffield.

Brian is a triathlete, having represented Great Britain in the Age Group World Championship Grand Final (2015-18).

Email Brian on 100 Group matters at:

Committee Members

Brian Gilvary (Chair)BP
Julia Wilson (Deputy Chair)3i
Graham BakerSmith and Nephew
Margherita Della ValleVodafone
Mark FitzPatrickPrudential
Russ HouldenUnited Utilities
Iain McKayGSK
Kathryn MikellsDiageo
Tushar MorzariaBarclays
Chris O’SheaCentrica
Graeme PitkethlyUnilever
Alan StewartTesco
Jessica UhlRoyal Dutch Shell
Karen WittsCompass

What We’re Looking At

Response Letters

In order to achieve our overarching objective of promoting the competitiveness of the UK, we meet with various bodies and individuals to discuss the most topical areas within tax. These include financial reporting, pensions, capital markets, and the integration of understanding between the UK, Europe and, where relevant, further afield.

Each sub-committee has further details of the most recent hot topics that we’re looking at and can be found in the sections of each of the committees.

We submit response letters to various regulatory and other announcements in the areas of tax, reporting, pensions, regulation, capital markets and corporate governance. These are submitted by The 100 Group’s sub-committees and can be found in the sections of each of the committees.

For copies of consultation responses submitted by the Main Committee, please see our news below.

Main Committee News

  • All
  • 2016
  • 2017
  • 2018
  • 2019
  • Archive
06 December 2019 |

2019 Annual Review

06 December 2019 |

2019 AGM results

15 February 2019 |

100 Group response to the CMA Statutory Audit Market update paper

12 December 2018 |

2018 Annual Review

11 December 2018 |

2018 AGM Results

26 October 2018 |

100 Group response to the CMA Statutory Audit Market Study

06 December 2017 |

2017 Annual Review

06 December 2017 |

2017 AGM Results

01 December 2016 |

2016 Annual Review

11 November 2015 |

2015 Annual review

14 November 2014 |

2014 Annual Review

11 November 2013 |

2013 Annual Review

Financial Reporting Committee

Our Aims

The committee’s aim is to promote the development of high quality, global accounting standards through contributing to the accounting standard setting process.

The committee supports accounting standards which:

  • Provide relevant, reliable, comparable and understandable information to current and potential investors to assist them to make rational economic decisions about the reporting entity; and
  • Provide a basis for assessment of the results of the stewardship of the management of the reporting entity of the resources entrusted to it.

The committee operates within a framework which is governed by its Statement of Principles.

Our Role

The committee meets quarterly to debate emerging issues in corporate reporting and accounting standard setting.

It considers active projects of the IASB and comments formally on discussion papers and exposure drafts. The committee considers how it can enhance the standards of corporate reporting of its members, either voluntarily or through supporting bodies such as the IASB and the FRC.

We continue to maintain strong ties with the IASB and other bodies to ensure we have insight on standard setting and developments at a UK, International and European level. Two of our members are also members of the FRC's Accounting Council, have strong relationships with the FRC, and have an observer role at the ICAEW's Financial Reporting Committee.

Chairman Russ Houlden

russ houldenRuss has been Chairman of The 100 Group Financial Reporting Committee since November 2013.

Russ joined the Board of United Utilities Group PLC in October 2010 as Chief Financial Officer. In addition to his executive role, he is Chairman of the Audit Committee of Orange Polska, the largest fixed and mobile telecommunications company listed on the Warsaw stock exchange.

Previously, he was the Chief Financial Officer at Telecom New Zealand and before that he was Finance Director of Lovells and various divisions of BT and ICI.

Email Russ Houlden on The 100 Group matters at:

Committee Members

Members of the Financial Reporting Committee are drawn from finance departments of principally FTSE 100 companies, and represent a broad spectrum of industry groups.

What We’re Looking At

Financial Reporting Committee

We continue to monitor developments in the IASB's major projects. We work with our other committees on cross-cutting issues, in particular on integrated and digital reporting initiatives and UK endorsement mechanism for international accounting standards following Brexit.

The committee focuses on maintaining and developing our relationships with other stakeholder bodies in the UK and internationally in order to best co-ordinate and focus efforts on areas of shared interest.

What We’ve Said

  • All
  • 2016
  • 2017
  • 2018
  • 2019
  • Archive
29 November 2019 |

Letter submitted to IASB DPOC on IFRIC agenda decision not to amend IFRS 16

27 September 2019 |

FRC consultation response on updates to Ethical and Auditing Standards 2019

19 August 2019 |

Letter to IFRIC on their tentative agenda decision on IFRS 16

26 June 2019 |

Letter to HMT on European Single Electronic Format

30 April 2019 |

FRC Discussion Paper on Business Reporting of Intangibles: Realistic Proposals

05 December 2018 |

IASB Discussion Paper Financial Instruments with Characteristics of Equity

06 June 2018 |

BEIS letter European Single Electronic Format

06 April 2018 |

BEIS Duty to Report on payment practices and performance

04 December 2017 |

IASB Exposure Draft Accounting Policies and Accounting Estimates (Proposed Amendments to IAS 8)

01 December 2017 |

IASB Exposure Draft Definition of Material – Proposed amendments to IAS 1 and IAS 8

02 October 2017 |

IASB Discussion Paper Disclosure Initiative – principles of disclosure

31 July 2017 |

IASB Improvements to IFRS 8 Operating Segments

Investor Relations and Markets Committee

Our Aims

The committee’s aim is to contribute to the development of investor relations and market related regulation. Its intention is to constructively add to debates in this area, calling on stakeholders to be focused, measured and balanced in providing a regulatory framework that both protects stakeholders and encourages business growth and enterprise.

Our Role

The committee meets quarterly to debate emerging issues in corporate and market regulation. It frequently comments publicly on draft regulation and maintains dialogue with UK regulators including the Financial Reporting Council, the Financial Services Authority and several HM Government departments.

Chairwoman Julia Wilson

Julia WilsonJulia became Chair of the 100 Group Investor Relations and Market Committee in January 2017.

She is Group Finance Director of 3i Group having been appointed to the Board of 3i Group plc on 1 October 2008. She is a member of the Executive and Investment Committees.

Julia began her career at Arthur Andersen, and has had a variety of tax and financial roles at Hanson plc, Tomkins plc and Cable & Wireless plc before joining 3i in 2006.

Julia is also the Senior Independent Director of Legal & General Group plc, and a member of the ICAEW (ACA) and the Chartered Institute of Taxation.

Email Julia Wilson on The 100 Group matters at:

What We’re Looking At

We continue to engage with investor groups, such as the Investment Association, and have met with representatives from the Investor Forum. The objectives of these groups appear broadly in line with our objectives, with topics such as good stewardship and engagement and the role of proxy advisors being high on the agenda.

The committee remains close to the debate on the evolution of narrative reporting. This is an area of focus following the development of the FRC’s Guidance on the Strategic Report, the continued development of the Integrated Reporting Framework and requirements for a viability statement.

We will continue to promote our vision of narrative reporting as being relevant, meaningful and clutter free and engage with government and regulator alike. In particular we welcome the FRC’s Clear and Concise Reporting Initiative, and the work of the Financial Reporting Lab, and engage with these and other organisations to put the perspectives of our members.

What We’ve Said

  • All
  • 2016
  • 2017
  • 2018
  • 2019
  • Archive
29 March 2019 |

FRC Stewardship Code update consultation response

28 February 2018 |

FRC consultation on proposed revisions to the UK Corporate Governance Code

23 June 2017 |

FRC: Discussion Paper on Auditors and Preliminary Announcements

16 February 2017 |

BEIS Green paper on Corporate Governance reform

07 November 2016 |

FRC Financial Reporting Review Panel letter

04 November 2016 |

BEIS letter 2 regarding supplier payments and duty to report

19 October 2016 |

Letter 1 to BEIS regarding supplier payments and duty to report

15 April 2016 |

BIS Implementing the EU’s Non Financial Reporting Directive

15 April 2016 |

European Commission non-binding guidelines to Non Financial Reporting

11 April 2016 |

Mandatory Gender Pay Gap Reporting

04 February 2016 |

FCA Market Abuse Regulation

Pensions Committee

Our Aims

The committee’s aim is to promote fair, transparent and appropriate pensions regulation for employers and employees.

Our Role

The committee actively engages with the Government, the Pensions Regulator and the PPF to enhance pension regulation in the UK. It also engages with EIOPA and the European Commission to ensure appropriate regulation on a European level. It comments formally on significant relevant pension consultations and regularly advises relevant regulatory bodies on the future of pension provision.

Chairman Alan Stewart

Alan has been Chairman of The 100 Group Pensions Committee since April 2015.

Alan joined Tesco PLC on 23 September 2014 as the CFO. Alan qualified as a Chartered Accountant with Deloitte in South Africa and moved to the UK in 1985.

He has extensive financial experience in retail having been CFO at Marks & Spencer and WH Smith. He started his career in the UK in investment banking with HSBC. He became CFO at Thomas Cook Holdings in 1998 and was appointed UK CEO in 2001. From there he moved to WH Smith as Group CFO. In 2008 he was appointed CFO at AWAS, a leading aircraft leasing business, before moving to M&S in 2010. Alan is also a NED with Diageo.

Email Alan Stewart on The 100 Group matters at:

Committee Members

The members of the Pensions Committee are drawn from Finance Directors, Group Treasurers and Pension Managers of member companies with an interest in the pension’s agenda. 

What We’re Looking At

The committee's current priorities are as follows:

  • Pensions regulation: Arguing that any significant changes to pensions legislation should be made proportionately and after appropriate consultation.
  • Brexit: Identifying any areas of pensions legislation where changes can usefully be made following withdrawal from the EU.
  • Defined benefit funding: Ensuring that the funding regime for defined benefit pension schemes maintains an appropriate balance between trustees and employers.
  • Pensions taxation: Continuing to make the case that major reforms to the taxation of pensions would be damaging and that the employer contribution has a key role in incentivising pension scheme membership.

The main items on the agenda for 2018 are expected to be:

  • Responding to the forthcoming White Paper on defined benefit pensions, which may include proposals for new funding requirements and/or strengthened powers for the Pensions Regulator to intervene in corporate transactions involving defined benefit pensions.
  • Continuing to make representations against any major reforms of the pensions taxation system.
  • Monitoring developments in the defined contribution pensions regulatory landscape and ensuring that any further changes to defined contribution pensions legislation (including any arising from the auto-enrolment review) are not unduly onerous.
  • Ensuring that the EU’s IORP (Institutions for Occupational Retirement Provision) II Directive is implemented proportionately in the UK, especially given the likely timing relative to Brexit (the Directive needs to be implemented by January 2019).

What We’ve Said

  • All
  • 2016
  • 2017
  • 2018
  • 2019
  • Archive
20 September 2019 |

Response to TPR consultation on the Future of Trusteeship and Governance

21 August 2018 |

Response to Consultation on ‘Protecting Defined Benefit Pension Schemes – A Stronger Pensions Regulator’

12 July 2018 |

Response to DWP Consultation on “Clarifying and strengthening trustees’ investment duties”

19 June 2018 |

Response to FCA/TPR Call for Input on Regulating the Pensions and Retirement Income Sector

21 September 2017 |

Response to Consultation on Advising on Pension Transfers

20 September 2017 |

Response to Consultation on Implementing Asset Management Market Study Remedies

12 May 2017 |

Response to Consultation on the Third PPF Levy Triennium 2018/19 to 2020/2021

10 May 2017 |

Response to DWP Green Paper on Security and Sustainability in Defined Benefit Pension Schemes

20 February 2017 |

FCA Asset Management Market Study Interim Report

18 January 2017 |

Response to DWP consultation on the Occupation and Personal Pension Schemes (General Levy) (Amendment) Regulations 2017

15 January 2017 |

Response to DWP consultation on a proposed methodology for equalising pensions for the effect of GMPs

09 September 2016 |

Response to TPR Discussion Paper on 21st Century Trusteeship and Governance

Tax Committee

Our Aims

The committee’s aim is to influence UK tax policy and administration, with a view to enhancing the UK’s competitiveness.

The committee believes that good fiscal policy is grounded upon long-term stability, simplicity and consistency. Consistency is necessary in a range of different aspects including consistency with policy objectives; consistency between different parts of the tax legislation; consistency of approach between taxpayers; and consistency with broader international tax principles and systems.

Our Role

The Tax Committee’s role is to monitor and influence potential and actual changes to UK tax legislation.

Through direct engagement with HMRC, HMT at the Business Tax Forum and other fora, the committee represents the views on tax policy and administration of FTSE 100 companies. It meets representatives of the UK Government on a regular basis and comments both formally and informally on current proposals (for example concerning whether they meet the above requirements of good fiscal policy).

The committee also monitors and comments on changes in tax legislation throughout the world, conscious that its members operate globally.

The Committee supports the work of the Oxford Centre for Business Taxation ( and sponsors the Total Tax Contribution Survey. This survey, prepared each year in association with PricewaterhouseCoopers, assesses the tax burden levied on the UK’s largest companies with the aim of assessing the competitiveness of the UK tax regime.

Chairman Chris O’Shea

Chris O’Shea

Chris became Chair of The 100 Group Tax Committee in November 2016.

Chris joined the Board of Centrica in 2018 as Group Chief Financial Officer. Prior to this, he held the same position at Smiths Group and Vesuvius following a number of senior finance positions at BG Group.  Earlier in his career Chris had finance and tax roles at Royal Dutch Shell and Ernst & Young.   

Chris is a member of the Institute of Chartered Accountants of Scotland and has degrees from the University of Glasgow and Duke University.

Email Chris O’Shea on The 100 Group matters at:


Members of the Tax Committee are drawn from tax departments of principally FTSE 100 companies, and represent a broad spectrum of industry groups.

What We’re Looking At

Taxation remains at the forefront of international debate. In the UK, we have seen progress in improving the taxation regime in recent years, but with the OECD Base Erosion Profit Shifting project gathering pace there has been much debate in the area of fair taxation and transparency. The Committee has been closely involved in this debate and will continue to engage on these topics.

The Tax Committee continue to promote the contribution of The 100 Group members to the UK Exchequer and the wider economy through the Total Tax Contribution Survey (see the latest results here) and other discussions.

The committee will continue to engage with HMRC and HMT and with the CBI, and will look to influence developments in country-by-country reporting with the aim of contributing positively to the development of any legislation affecting the UK.

What We’ve Said

  • All
  • 2016
  • 2017
  • 2018
  • 2019
  • Archive
02 December 2019 |

OECD Pillar two consultation response

27 November 2019 |

2019 Total Tax Contribution Report

15 November 2019 |

OECD Pillar One Consultation Response

06 March 2019 |

OECD consultation response on addressing the tax challenges of the “Digitalisation of the Economy”

28 February 2019 |

HMT Digital Services Tax consultation response

25 January 2019 |

HMRC Corporate Capital Loss Restriction: Consultation on delivery response

09 August 2018 |

HMT & HMRC Consultation on Off-Payroll working in the private sector

23 February 2018 |

HMRC Royalties Withholding Tax consultation response

08 December 2017 |

HMRC Large Business compliance consultation response

15 November 2017 |

HMRC and HMT consultation process letter

15 November 2017 |

HMRC Making Tax Digital consultation response

30 October 2016 |

HMRC consultation on Lease Accounting Changes: Tax Response