UKG100049036
UKGI00049036
Message
From: Gratton, Lorna - UKGI [/O=EXCHANGELABS/OU=EXCHANGE ADMINISTRATIVE GROUP
(FYDIBOHF23SPDLT)/CN=RECIPIENTS/CN=BB76B812225A46C1A30178FD66C68922-GRATTON, LO]
Sent: 15/01/2024 16:52:40
To: Donald, Charles - UKG
[ss] Coppin, James - UKGI
Subject: Agenda for meeting with Henry / UKGI Board POL working group
Charles,
When we spoke last week, you mentioned that Henry had asked for an agenda for your and Vindi’s meeting with
him. How about the below:
Agenda:
- POLsenior team
- Governance
- — Inquiry
Within this I thought headline things to touch on could be as below. If you’re happy with the thrust of the below, I’ll put
together a first draft of a script based on that. We also discussed trying to see David B in order to agree this in advance
with him. We were due to speak to David on Friday to do this, however,
he’s currently off work (at least for this week) — so we may need to see if we can agree something with him by email.
Finally, there is the UKGI board working group on Thursday, where you suggested we discuss some of the more sensitive
things they might have useful input on. I was thinking POL Chair / SID recruitment and investigations — can you let me
know if there is anything else it would be useful to cover. Do I need to circulate something in advance, or should I just
plan to talk to something in the meeting?
Best wishes,
Lorna
- POLsenior team
o Understand a there have been a number of changes to strengthen team. Still concerned about quality
of team, and absence of permanent CFO. Performance management needs to be effective (as per
Minister’s letter, which should hopefully have issued). Processes need to be robust, so number of
settlements required decreases. Where there are investigations, these need to be thorough. POL’s
approach needs to be beyond reproach.
- Governance
o Level of scrutiny continues to be extremely high. Looking to him for leadership and to set the right tone
with department and rest of the board (e.g. on Nomco and Remco). Not the right time to battle the
shareholder (e.g. re Nick’s pay). Realise public sector environment is unique, but ultimately not that
dissimilar to a privately held company — there is a framework and we operate within it.
co Board needs to ensure it has adequate reassurance on NBIT. Lots of the criticism of the board at the
inquiry is that they were too trusting of the management’s view. Does the board have sufficient
expertise and challenge to make sure that doesn’t happen again.
- — Inquiry
co Recognise lots of pressure and scrutiny on the company. Need to make sure that the company has its
house in order in all regards — current employees, processes, practices. Make sure we don’t have
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avoidable own goals through not having addressed something we knew needed addressing. Will be lots
of scrutiny on current governance arrangements and effectiveness of management.
Lorna Gratton I Director
UK Government Investments
ondon, SW1H OET
a
www.ukgi.org.uk