TP ICAP Group Management

Management criteria checks 2/4

TP ICAP Group's CEO is Nicolas Noel Breteau, appointed in Jul 2018, has a tenure of 6.33 years. total yearly compensation is £3.09M, comprised of 25.4% salary and 74.6% bonuses, including company stock and options. directly owns 0.097% of the company’s shares, worth €2.28M. The average tenure of the management team and the board of directors is 6.5 years and 5.2 years respectively.

Key information

Nicolas Noel Breteau

Chief executive officer

UK£3.1m

Total compensation

CEO salary percentage	25.4%
CEO tenure	6.3yrs
CEO ownership	0.1%
Management average tenure	6.5yrs
Board average tenure	5.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Nicolas Noel Breteau's remuneration changed compared to TP ICAP Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	UK£99m
Mar 31 2024	n/a	n/a	UK£87m
Dec 31 2023	UK£3m	UK£785k	UK£74m
Sep 30 2023	n/a	n/a	UK£90m
Jun 30 2023	n/a	n/a	UK£105m
Mar 31 2023	n/a	n/a	UK£104m
Dec 31 2022	UK£2m	UK£750k	UK£103m
Sep 30 2022	n/a	n/a	UK£86m
Jun 30 2022	n/a	n/a	UK£68m
Mar 31 2022	n/a	n/a	UK£37m
Dec 31 2021	UK£2m	UK£719k	UK£5m
Sep 30 2021	n/a	n/a	UK£24m
Jun 30 2021	n/a	n/a	UK£43m
Mar 31 2021	n/a	n/a	UK£70m
Dec 31 2020	UK£2m	UK£670k	UK£96m
Sep 30 2020	n/a	n/a	UK£76m
Jun 30 2020	n/a	n/a	UK£55m
Mar 31 2020	n/a	n/a	UK£61m
Dec 31 2019	UK£2m	UK£650k	UK£67m
Sep 30 2019	n/a	n/a	UK£76m
Jun 30 2019	n/a	n/a	UK£85m
Mar 31 2019	n/a	n/a	UK£59m
Dec 31 2018	UK£1m	UK£312k	UK£32m

Compensation vs Market: Nicolas Noel's total compensation ($USD3.87M) is above average for companies of similar size in the German market ($USD1.90M).

Compensation vs Earnings: Nicolas Noel's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Nicolas Noel Breteau (56 yo)

6.3yrs

Tenure

UK£3,091,000

Compensation

Mr. Nicolas Noel Andre Breteau served as Director at ICAP WCLK Ltd. since December 9, 2019 until November 15, 2021. He was an Executive Director of Tp Icap Markets Limited (Formerly Known as ICAP Securitie...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Nicolas Noel Breteau	Group CEO & Executive Director	6.3yrs	UK£3.09m	0.097% € 2.3m
Robin Stewart	CFO & Executive Director	7yrs	UK£1.61m	0.050% € 1.2m
Philip Price	Group General Counsel & Executive Director	9.8yrs	UK£1.62m	0.053% € 1.3m
Max Spoto	Group Chief Operating Officer	1.7yrs	no data	no data
Dominic Lagan	Head of Investor Relations	no data	no data	no data
Amir Zaidi	Global Head of Compliance	5.2yrs	no data	no data
Richard Newman	Group Head of Marketing & Communications	no data	no data	no data
Susan Maple	Group Head of Human Resources	5yrs	no data	no data
Andrew Polydor	Chief Executive Officer of Energy & Commodities	8.1yrs	no data	no data
Mark Allen	Chief Operating Officer of Institutional Services Division	6.8yrs	no data	no data
John Martin	Managing Director of Coex Partners - New York	6.8yrs	no data	no data
Joanna Nader	Group Head of Strategy	5.1yrs	no data	no data

6.5yrs

Average Tenure

58yo

Average Age

Experienced Management: 8D7's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Nicolas Noel Breteau	Group CEO & Executive Director	6.3yrs	UK£3.09m	0.097% € 2.3m
Robin Stewart	CFO & Executive Director	6.3yrs	UK£1.61m	0.050% € 1.2m
Philip Price	Group General Counsel & Executive Director	6.2yrs	UK£1.62m	0.053% € 1.3m
Mark Hemsley	Independent Non-Executive Director & EMEA Workforce Engagement Director	4.7yrs	UK£90.00k	0.0029% € 68.9k
Tracy Clarke	Independent Non-Executive Director & ESG Engagement Director	3.8yrs	UK£95.00k	0.0019% € 43.9k
Richard David Berliand	Independent Non-Executive Chairman of the Board	5.7yrs	UK£300.00k	0.020% € 470.3k
Yok Tak Yip	Independent Non-Executive Director & APAC Workforce Engagement Director	1.2yrs	UK£45.00k	no data
Michael Heaney	Independent Non-Executive Director & Americas Workforce Engagement Director	6.8yrs	UK£155.00k	0.012% € 285.1k
Angela Crawford-Ingle	Independent Non-Executive Director	4.7yrs	UK£105.60k	0.0052% € 123.6k
Kathleen Shailer	Senior Independent Director	3.8yrs	UK£118.00k	0.0026% € 60.4k

5.2yrs

Average Tenure

60.5yo

Average Age

Experienced Board: 8D7's board of directors are considered experienced (5.2 years average tenure).

TP ICAP Group Management

Management criteria checks 2/4

Key information

Recent management updates

Group CEO & Executive Director recently sold €296k worth of stock

Insufficient new directors

TP ICAP Group PLC Announces Directorate Changes

Louise Murray to Stand Down as Independent Non-Executive Director of TP ICAP Group plc, Effective 30 June 2023

Group CEO & Executive Director recently sold €238k worth of stock

High number of new directors

Recent updates

Group CEO & Executive Director recently sold €296k worth of stock

Now 21% undervalued

Upcoming dividend of UK£0.048 per share

Now 21% undervalued

Now 20% undervalued

TP ICAP Group PLC to Report First Half, 2025 Results on Aug 05, 2025

First half dividend of UK£0.048 announced

First half 2024 earnings released: EPS: UK£0.12 (vs UK£0.084 in 1H 2023)

Insufficient new directors

TP ICAP Group PLC (LSE:TCAP) commences an Equity Buyback Plan for 77,174,574 shares, representing 9.79% of its issued share capital, under the authorization approved on May 15, 2024.

TP ICAP Group PLC Approves Final Dividend for the Year Ended 31 December 2023

TP ICAP Group PLC to Report Fiscal Year 2024 Results on Mar 11, 2025

TP ICAP Group PLC (LSE:TCAP) agreed to acquire Aotearoa Energy Limited.

TP ICAP Group PLC Recommends Final Dividend for 2023, Payable 24 May 2024

Upcoming dividend of UK£0.048 per share at 7.6% yield

TP ICAP Group PLC to Report Q2, 2024 Results on Aug 07, 2024

TP ICAP Group PLC (LSE:TCAP) commences an Equity Buyback Plan for 78,867,093 shares, representing 10% of its issued share capital, under the authorization approved on May 17, 2023.

First half 2023 earnings released: EPS: UK£0.084 (vs UK£0.082 in 1H 2022)

TP ICAP Group PLC Declares Interim Dividend for the Six Months Ended 30 June 2023, Payable on 3 November 2023

TP ICAP Group PLC Announces Directorate Changes

Louise Murray to Stand Down as Independent Non-Executive Director of TP ICAP Group plc, Effective 30 June 2023

TP ICAP Group PLC Declares Final Dividend for the Year Ended 31 December 2022

Upcoming dividend of UK£0.079 per share at 6.9% yield

Group CEO & Executive Director recently sold €238k worth of stock

High number of new directors

Full year 2022 earnings released: EPS: UK£0.13 (vs UK£0.007 in FY 2021)

TP ICAP Group PLC Announces Board Changes, with Effect from 1 March 2023

Less than half of directors are independent

Investor sentiment improved over the past week

Upcoming dividend of UK£0.045 per share

TP ICAP Group PLC to Report Fiscal Year 2022 Results on Mar 14, 2023

Investor sentiment improved over the past week

First half 2022 earnings released: EPS: UK£0.082 (vs UK£0.001 in 1H 2021)

TP ICAP Group PLC Announces Interim Dividend, Payable on 4 November 2022

TP ICAP Appoints Daniel Fields as CEO of Its Global Broking Division

High number of new directors

TP ICAP Group PLC, Annual General Meeting, May 11, 2022

Upcoming dividend of UK£0.055 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Upcoming dividend of UK£0.04 per share

Investor sentiment deteriorated over the past week

First half 2021 earnings released: EPS UK£0.001 (vs UK£0.097 in 1H 2020)

TP ICAP Group PLC (LSE:TCAP) acquired remaining 40% stake in ICAP Totan Securities Co. Limited from The Tokyo Tanshi Co., Ltd.

TP ICAP Group PLC Declares Payment of Final Dividend for the Year Ended December 31, 2020

TP ICAP Group PLC Provides Revenue Guidance for the Year 2021

TP ICAP Group PLC Recommends Final Dividend, Payable on May 18, 2021

Upcoming dividend of UK£0.02 per share

Independent Non-Executive Chairman of the Board Richard David Berliand has left the company

Senior Independent Non-Executive Director has left the company

Independent Non-Executive Director has left the company

Full year 2020 earnings released: EPS UK£0.17 (vs UK£0.12 in FY 2019)

Revenue misses expectations

New 90-day high: €2.98

Independent Non-Executive Director has left the company

Independent Non-Executive Director has left the company

Independent Non-Executive Director has left the company

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age