Slavery and Human Trafficking Statement 2019
This Statement is made pursuant to section 54 of the Modern Slavery Act 2015 (“the Act”) and sets out the steps that Arbuthnot Latham & Co., Limited (Arbuthnot Latham) has taken to ensure that slavery and human trafficking is not taking place in its supply chains or any part of its business or that of its subsidiaries (“AL Group”).
Arbuthnot Latham does not tolerate modern slavery or human trafficking within the AL Group’s business operations and is committed to ensuring that its supply chains are free from slavery and human trafficking. This Statement sets out the actions that Arbuthnot Latham has taken and will continue to take, to understand and combat slavery and human trafficking risks within the businesses of the AL Group.
Arbuthnot Latham is a private limited company registered in England and Wales and is a wholly owned subsidiary of Arbuthnot Banking Group PLC.
Arbuthnot Latham provides private banking and commercial banking services, with offices in London, Manchester, Exeter, Bristol and Dubai. Renaissance Asset Finance specialises in asset-backed lending to both private and commercial customers. The Arbuthnot Latham Group prides itself on quality of service and reputation built on understanding client needs.
In support of our business operations, Arbuthnot Latham purchases goods and services from a number of suppliers, the majority of which are based in the UK.
Our policy on slavery and human trafficking
We have a Modern Slavery Act Policy, procedures and processes which reflect our commitment to acting ethically and with integrity in all business relationships, and additionally to ensure slavery and human trafficking is not taking place anywhere in our business or supply chains. We also operate a Whistleblowing Policy, which encourages our employees to report any concerns or wrongdoing.
Supply chain risk within Arbuthnot Latham
We operate within a professional and regulated environment and do not have complex supply chains or obtain material services from suppliers with a high risk of slavery or human trafficking. We have adopted a risk-based approach to review existing suppliers and will adopt this approach for any new supplier with which we contract. The Arbuthnot Latham Modern Slavery Act Policy is available to all existing and potential new suppliers to Arbuthnot Latham. Where applicable, contractual provisions will be included in agreements or terms of business with suppliers, which are reviewed at least on an annual basis.
Due diligence processes for slavery and human trafficking
As part of our initiative to identify and mitigate the risk of slavery and human trafficking, we carry out appropriate due diligence when engaging and working with suppliers, whilst also ensuring that the diligence undertaken is proportionate to the services provided.
Training is fundamental to raising awareness and educating all staff members on the issues highlighted in the Act. We therefore provide relevant training and development for all staff members in order to ensure a high level of understanding of the risks of modern slavery and human trafficking in our supply chains and business, and our obligations under the Act.
We reiterate our ongoing commitment to the Act and its underlying principles.
This Statement has been reviewed by key stakeholders and senior management and has been approved by the Arbuthnot Latham Board of Directors. It will be reviewed annually and updated as required.
This statement is made with respect to the financial year ended 31 December 2018 in accordance with section 54(1) of the Modern Slavery Act 2015. It has been approved by the Arbuthnot Latham Board of Directors and signed by a Director.
Chief Executive Officer
Arbuthnot Banking Group PLC
21 March 2019
Arbuthnot Latham & Co., Limited considers a dormant bank account to be one which has been inactive for the last two years and where it has not been possible to establish contact with the client. For security reasons we will not send statements to a client who has a dormant account where correspondence has been returned from their last known address. If you have money in a dormant account or lost account, it will always be your property (or if you die, it will become part of your estate). This is the case no matter how many years pass. To enquire about a dormant bank account, please contact our Private Banking Support team on +44 (0)20 7012 2600.
If you believe you have money or assets with Arbuthnot Latham & Co., Limited that are in a dormant or lost account, please call +44(0)20 7012 2500 and ask to speak to a member of the Investment Management team.
Arbuthnot Latham offers investment management services. This service covers a wide range of asset classes to provide clients with the right level of risk and potential reward to meet their aspirations and investment goals.
Under the revised Shareholder Rights Directive II (SRD II), there are certain requirements that arise when we invest in shares on behalf of clients. These requirements aim to encourage long-term investment by shareholders, enhance transparency between investors and issuers, and facilitate the exercise of shareholders’ rights.
SRD II requires firms like ourselves, to consider developing and publicly disclosing an engagement policy, and, on an annual basis, to disclose how this policy has been implemented.
We take our shareholders’ role seriously, and fully support effective stewardship, in a manner which is proportionate and meaningful.
We are in the process of considering the development of an engagement policy and, when completed, will publish the outcome of our considerations on this website.
4 June 2019
Below are the details Arbuthnot Latham & Co., Limited is required to disclose under the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. Arbuthnot Latham is an equal opportunities employer and will continue its policy of recruiting the best available candidate for every position.
- The difference in the mean pay of full-pay men and women, expressed as a percentage: 42.72%
- The difference in the median pay of full-pay men and women, expressed as a percentage: 40.94%
- The difference in mean bonus pay of men and women, expressed as a percentage: 70.97%
- The difference in median bonus pay of men and women, expressed as a percentage: 60%
- The proportion of men and women who received bonus pay:
Women: 74.53% received bonus pay;
Men: 75.37% received bonus pay.
- The proportion of full-pay men and women in each of four quartile pay bands.
|Q1 (lowest paid)||37.78||62.22|
|Q4 (highest paid)||86.67||13.33|
I confirm that the Arbuthnot Latham Gender Pay Gap calculations featured in the above report are accurate.
Daniel Dagg, Chief Operating Officer, Arbuthnot Latham