Quilter plc’s AGM 2024: Strong Support for Resolutions Despite Political Donations Controversy

On May 23, 2024, Quilter plc held its Annual General Meeting (AGM), where all proposed resolutions were passed by the requisite majorities. This comprehensive review provides a detailed breakdown of the resolutions, voting outcomes, and the company’s commitment to engaging with shareholders.

Resolutions and Voting Outcomes

Ordinary Resolutions

Quilter plc proposed 15 ordinary resolutions at the AGM. These resolutions covered a range of standard business matters.

Resolution 1: Receive 2023 Report and Accounts

This resolution passed with unanimous support.

  • For: 1,070,505,053 votes (100.00%)
  • Against: 11,416 votes (0.00%)
  • Votes Withheld: 2,765,673

Resolution 2: Approve Remuneration Report

Shareholders approved the remuneration report with strong support.

  • For: 1,042,122,729 votes (97.13%)
  • Against: 30,842,412 votes (2.87%)
  • Votes Withheld: 317,021

Resolution 3: Declare a Final Dividend

This resolution also saw overwhelming support.

  • For: 1,072,971,150 votes (100.00%)
  • Against: 2,570 votes (0.00%)
  • Votes Withheld: 308,422

Director Re-Elections

Shareholders re-elected several directors with high approval ratings.

DirectorFor VotesAgainst VotesVotes Withheld
Neeta Atkar MBE1,064,021,974 (99.17%)8,926,893 (0.83%)331,777
Tim Breedon CBE1,063,919,943 (99.16%)9,034,396 (0.84%)326,305
Chris Hill1,072,905,907 (100.00%)48,433 (0.00%)326,304
Moira Kilcoyne1,072,934,326 (100.00%)18,065 (0.00%)328,253
Steven Levin1,072,938,704 (100.00%)15,399 (0.00%)326,541

Auditor Appointment

Resolution 13 reappointed PricewaterhouseCoopers LLP as the company’s auditor.

  • For: 1,071,204,195 votes (99.84%)
  • Against: 1,744,742 votes (0.16%)
  • Votes Withheld: 331,707

Special Resolutions

Quilter plc proposed two special resolutions, which required a higher voting threshold.

Resolution 16: Authorise Share Purchase

This resolution authorises Quilter to purchase its own shares.

  • For: 1,070,926,970 votes (99.83%)
  • Against: 1,847,435 votes (0.17%)
  • Votes Withheld: 507,737

Resolution 17: Authorise Contingent Purchase Contracts

This resolution enables Quilter to enter into contingent purchase contracts.

  • For: 1,071,022,750 votes (99.84%)
  • Against: 1,747,641 votes (0.16%)
  • Votes Withheld: 511,751

Significant Opposition to Political Donations

Resolution 15: Authorise Political Donations

This resolution faced notable opposition, with over 20% of votes cast against it. This reflects shareholder concerns about political donations.

  • For: 780,449,542 votes (72.74%)
  • Against: 292,508,264 votes (27.26%)
  • Votes Withheld: 324,336

Shareholder Engagement

Quilter plc has actively engaged with shareholders since its listing in 2018. The company understands shareholder concerns, particularly from South African investors, regarding political donations. Quilter commits to ongoing dialogue with shareholders, in line with the UK Corporate Governance Code. An update on these discussions will be provided in due course.

Company Overview and Financial Performance

Quilter plc is a leading provider of financial advice, investments, and wealth management. The company oversees £111.6 billion in customer investments as of March 31, 2024. Quilter’s business is divided into two main segments: Affluent and High Net Worth.

Affluent Segment

This segment includes Quilter Financial Planning, the Quilter Investment Platform, and Quilter Investors. These entities provide comprehensive financial planning and multi-asset investment solutions.

High Net Worth Segment

This segment includes Quilter Cheviot and Quilter Cheviot Financial Planning. They offer discretionary fund management and specialized financial planning services.


The 2024 Quilter plc AGM highlighted strong shareholder support for most resolutions, with a notable exception regarding political donations. The company’s commitment to shareholder engagement and transparency remains a cornerstone of its governance practices. As Quilter continues to navigate market practices and shareholder expectations, it strives to uphold its position as a leading wealth manager in the UK. Future updates on shareholder discussions and strategic decisions will be keenly anticipated by investors and stakeholders alike.