Christopher Halmy
About Christopher Halmy
Independent Non-Executive Vice Chair of the Board of Directors at Burford Capital (BUR); age 56; director since May 2022; Chair of the Audit Committee and member of the Compensation Committee. Former CFO of Ally Financial, Senior Advisor to McKinsey (Aug 2019–Dec 2024), CPA with MBA and undergraduate degrees from Villanova; expected to become Board Chair in 2027 upon the current Chair’s planned retirement. The Board has determined he is independent under SEC and NYSE standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ally Financial Inc. (NYSE: ALLY) | Chief Financial Officer; led multinational IPO; responsible for $25B investment portfolio | Not disclosed (prior to 2019) | Capital markets leadership; large-scale finance oversight |
| McKinsey & Company | Senior Advisor (auto lending focus) | Aug 2019 – Dec 2024 | Industry advisory; risk/credit domain expertise |
| Bank of America; JPMorgan | Finance, accounting and treasury roles | Not disclosed | Financial operations and treasury experience |
| Deloitte | Senior Accountant | Not disclosed | Audit grounding; CPA qualification |
External Roles
| Organization | Role | Public/Private | Committee Roles |
|---|---|---|---|
| Western Alliance Bancorporation (NYSE: WAL) | Independent director | Public | Chair of Finance & Investment Committee; member of Audit Committee |
| Mercury Financial LLC | Independent Chair | Private (LLC) | Chair of Audit Committee |
| Mosaic Sustainable Finance Corp. | Independent director (prior) | Not disclosed | Board service (residential solar financing) |
| Spectrum Automotive Holdings Corporation | Independent director (prior to sale in 2021) | Not disclosed | Board service pre-sale |
Board Governance
- Roles: Vice Chair of the Board; Audit Committee Chair; Compensation Committee member. Audit Committee members (including Halmy) are independent, financially literate, and qualify as “audit committee financial experts” under Item 407(d)(5).
- Independence: Board majority independent; each director other than the CEO (Bogart) is independent per SEC/NYSE standards.
- Attendance: In 2024 the Board held four quarterly in-person meetings; all directors attended (Chair attended one via teleconference following surgery). Executive sessions of independent directors at each quarterly meeting.
- Committee activity: Audit Committee held 8 meetings; Compensation Committee held 2 meetings in 2024.
- Board leadership and succession: Independent Chair (John Sievwright) and separated CEO/Chair roles; expectation that Halmy becomes Chair at the 2027 AGM.
- Overboarding policy: No director >4 other public boards; Audit Committee members ≤3 other public-company audit committees unless the Board determines no impairment.
Fixed Compensation
| Year | Cash Fees ($) | Stock Awards ($) | Option Awards ($) | Total ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 111,849 | 60,246 | — | 172,095 | Deferred $55,925 of cash fees under NQDC Plan |
- Cash fee schedule (policy): Base annual cash fee $90,000; plus $15,000 for Vice Chair; plus $20,000 for Audit Committee Chair; plus $10,000 for Compensation Committee Chair (Halmy is not Comp Chair). Paid quarterly and may be converted to local currency. Actual paid amounts may vary due to proration and FX.
- Equity for non-executive directors (NED Plan): Annual restricted ordinary shares grant of $35,000; plus $40,000 for the independent Vice Chair; subject to transfer/sale restrictions until the earlier of 3 years from grant or end of board service.
- 2024 grant timing: Stock awards granted effective June 4, 2024; values per ASC 718.
Performance Compensation
| Element | Details |
|---|---|
| Non-Exec Director variable pay | No non-equity incentive plan or bonus for directors; 2024 table shows “—” for non-equity incentive and option awards. |
| Equity instruments | Restricted ordinary shares (time-based) under NED Plan; company historically did not grant option-like instruments (context applies to executive program; directors had no options in 2024). |
| Clawback | Comprehensive clawback policy for incentive compensation. |
| Anti-hedging/pledging | Prohibits hedging, short sales, margining, and pledging by directors and executive officers. |
| Non-employee director comp limits | $750,000 annual cap for non-employee directors; $1,500,000 for Board Chair (under 2025 Omnibus Plan and NQDC amendment). |
Other Directorships & Interlocks
| Company | Relationship to BUR | Potential Interlocks/Conflicts |
|---|---|---|
| Western Alliance Bancorporation (NYSE: WAL) | Financial services bank; BUR is legal finance/asset manager | No direct competitive overlap disclosed; Audit Committee oversight of related-party policy mitigates conflicts. |
| Mercury Financial LLC | Consumer finance | Private company; no disclosed transactions with BUR. |
- Related-party oversight: Any director-involved related-party transaction (> $120,000) must be reviewed/approved by the Audit Committee; directors recuse from discussion/votes on items involving them. The proxy’s RPT section discloses items generally and states no transactions other than those described; no Halmy-specific RPTs are identified in the provided excerpts.
Expertise & Qualifications
- CPA; deep finance, accounting, and treasury background; prior large public-company CFO experience (ALLY) and McKinsey advisory role.
- Audit Committee “financial expert” qualification confirmed by Board for all Audit Committee members (including Halmy).
- Education: MBA and undergraduate degrees from Villanova University.
- Board attributes: 3 years tenure; male; mix of board refreshment and experience.
Equity Ownership
| Measure | Amount | Date/Context |
|---|---|---|
| Beneficial ownership (shares) | 29,736; <1% of outstanding | As of March 3, 2025; 219,421,904 shares outstanding basis |
| NED Plan shares held | 9,736 | Granted under NED Plan; as of Dec 31, 2024 |
| Insider purchase via Deferred Compensation Plan | 742 shares | March 7, 2025; using cash compensation |
| Ownership guidelines | Minimum holding equal to ≥4x base annual cash retainer; directors must retain shares until threshold reached; 5 years to comply after trigger events | Policy statement |
| Hedging/pledging | Prohibited | Policy statement |
Insider Trades
| Date | Instrument | Type | Quantity | Price | Notes |
|---|---|---|---|---|---|
| Mar 7, 2025 | Ordinary Shares (via Deferred Compensation Plan) | Purchase using cash compensation | 742 | Not disclosed (plan allocation) | Company PDMR disclosure |
Governance Assessment
- Strengths: Independent Vice Chair; Audit Chair with “financial expert” status; full board attendance; robust related-party oversight; anti-hedging/pledging policy; clawback policy; clear succession with expectation to assume Board Chair in 2027. These support investor confidence and audit/risk rigor.
- Alignment: Mix of cash and equity (restricted shares), meaningful beneficial ownership, and incremental share acquisition via deferred comp indicate skin-in-the-game.
- Potential risk flags: Multiple external roles require monitoring for time commitments and audit committee limits, though policies mitigate overboarding and committee overload; no Halmy-related party transactions disclosed in provided materials. Continued vigilance on interlocks with financial institutions (e.g., WAL) is prudent, with Audit Committee oversight in place.
Overall: Governance posture appears strong with independence, audit leadership, attendance, and ownership alignment; no disclosed conflicts or RPTs involving Halmy in the excerpts reviewed.