Daniel Kaye
Equitable HoldingsAbout Daniel G. Kaye
Independent director of Equitable Holdings since 2018; age 70. Former EY audit partner (35 years; New England and Midwest Assurance Managing Partner) and Interim CFO/Treasurer of HealthEast Care System (2013–2014). Credentials include CPA and NACD Board Leadership Fellow; designated audit committee financial expert with deep financial services and insurance oversight experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ernst & Young LLP | Audit Partner; New England Managing Partner; Midwest Managing Partner of Assurance | ~1977–2012 (retired 2012) | Led large audit practices serving financial services clients; extensive accounting, auditing and controls expertise |
| HealthEast Care System | Interim Chief Financial Officer and Treasurer | 2013–2014 | Oversight of finance and treasury; enhances healthcare financial governance perspective |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| CME Group, Inc. (NASDAQ: CME) | Director | Not disclosed | Public company directorship; complements capital markets expertise |
| Equitable Financial; Equitable America; AllianceBernstein Corporation | Director (franchise boards) | EF: 2015–; EA: 2015–; AB Corp: 2017– | EQH subsidiary boards; counted as affiliate service and deemed immaterial to independence determinations |
Board Governance
- Committee leadership and memberships:
- Audit Committee: Chair; 9 meetings in 2024; all members independent; all designated audit committee financial experts .
- Nominating & Corporate Governance Committee: Chair; 4 meetings in 2024; all members independent .
- Finance & Risk Committee: Member until May 22, 2024; 5 meetings in 2024; all members independent .
- Independence: Board affirmed Kaye is independent under NYSE/SEC standards; affiliate board service deemed immaterial .
- Attendance and engagement: All directors attended the 2024 annual meeting; Board and committees hold regular executive sessions led by the independent Chair .
- Mandatory retirement age: 75 (Kaye is 70) .
- Overboarding compliance: Corporate Governance Guidelines limit non-executive directors to ≤4 public boards; all directors were in compliance throughout 2024 .
| Committee | Role | Chair? | Meetings in 2024 | Risk Oversight Focus |
|---|---|---|---|---|
| Audit | Member | Yes | 9 | Financial reporting integrity, controls, auditor independence, compliance, cybersecurity/AI/data privacy |
| Nominating & Corporate Governance | Member | Yes | 4 | Board composition/refresh, governance framework, ESG strategy oversight |
| Finance & Risk | Member (to 5/22/2024) | No | 5 | Liquidity, capital management, ERM program |
Fixed Compensation (Non‑Employee Director – 2024)
| Component | Amount | Notes |
|---|---|---|
| Fees earned or paid in cash | $282,875 | Includes EQH cash retainer and committee chair fees; AB director cash retainer also paid for AB Board service |
| Stock awards (total) | $345,039 | EQH common stock $175,039; AB restricted Holding Units $170,000 (three-year ratable vest) |
| Total EQH+AB director compensation | $627,914 | Aggregate for 2024 |
Director program parameters (context):
- EQH non-employee directors: annual cash retainer $125,000; audit chair $35,000; nominating chair $20,000; annual EQH equity retainer $175,000; Independent Chair receives additional $105,000 equity retainer .
- AB non-employee directors: annual cash retainer $97,750; annual restricted AB Holding Units $170,000; committee retainers vary by role; units vest ratably over three years .
Performance Compensation
Non-employee director pay is not performance-based; equity awards are time-vested retainer grants.
| Metric | Applicability to Directors | Vesting/Determination |
|---|---|---|
| Relative TSR | Not used for directors | Director equity awards are retainer-based, not tied to TSR |
| Non-GAAP EPS | Not used for directors | Not applicable; directors receive time-based EQH shares and AB restricted units |
| AB Restricted Units | Applicable (AB Board) | Ratable vesting over 3 years; not forfeitable except for cause |
Other Directorships & Interlocks
| Item | Status |
|---|---|
| Compensation Committee interlocks | None; Kaye did not serve on EQH Compensation & Talent Committee in 2024 |
| Affiliate board service | EQH subsidiaries and AB Board; considered immaterial to independence under guidelines |
Expertise & Qualifications
- CPA; NACD Board Leadership Fellow; designated audit committee financial expert .
- 35-year EY tenure in financial services auditing; leadership of major assurance practices .
- Public company governance and capital markets experience via CME Group and EQH/AB boards .
Equity Ownership
| Security | Beneficial Ownership | % of Class | Notes |
|---|---|---|---|
| EQH common stock | 58,063 shares | <1% | As of March 24, 2025 |
| AB Holding Units (AllianceBernstein Holding L.P.) | 44,702 units | <1% | As of March 24, 2025 |
| Hedging/Pledging | Prohibited for directors | — | Company policy bans hedging and pledging of Company securities |
| Director stock ownership guideline | 5× annual EQH cash retainer | — | Must retain 50% of EQH stock received until guideline met |
Insider Filings and Trades
| Item | Disclosure |
|---|---|
| Section 16(a) compliance in 2024 | Compliant; no untimely filings disclosed for Kaye. One late Form 4 related to the Chief Accounting Officer; none cited for directors including Kaye |
Governance Assessment
- Strengths
- Dual committee chair roles (Audit, Nominating & Governance) with documented financial expertise and independent status support board effectiveness and investor confidence .
- Active committee cadence (Audit 9; Nom/Gov 4) and participation in annual meeting indicate engagement; independent chair-led executive sessions enhance oversight quality .
- Ownership alignment via EQH shares and AB units; strict anti-hedging/pledging and director ownership guidelines reduce misalignment risk .
- Watch items / potential conflicts
- Service on AB Board and EQH subsidiary boards creates governance complexity; however, Board independence determinations deem affiliate service immaterial, and related-party transaction processes segregate AB policies from EQH’s policy .
- Director award limits increased under the amended 2019 Omnibus Plan (up to $1,000,000 for directors; $1,500,000 for Chair), which warrants monitoring for pay inflation vs. responsibilities (particularly with EQH+AB oversight) .
- Signals
- High 2024 Say‑on‑Pay support (96.1%) reflects positive shareholder sentiment toward governance and compensation frameworks, indirectly supporting board credibility .
RED FLAGS: None disclosed specific to Kaye (no related‑party transactions, no hedging/pledging, no Section 16(a) delinquencies). Monitor director compensation escalation given expanded award limits and dual board service context .