Douglas Dachille
Equitable HoldingsAbout Douglas Dachille
Douglas Dachille, age 60, joined the Equitable Holdings (EQH) Board in January 2025 as an independent director with over three decades in capital markets, risk management, and insurance investing. He previously served as Chief Investment Officer of AIG (2015–2021), co-founded and led First Principles Capital Management, and held senior roles at Zurich Capital Markets and J.P. Morgan, including Global Head of Proprietary Trading and Co‑Treasurer . He is designated independent under NYSE/SEC standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American International Group (AIG) | Chief Investment Officer | 2015–2021 | Oversaw ~$350B portfolio; instrumental in financial recovery |
| First Principles Capital Management | Co‑Founder, CEO | Not disclosed | Institutional fixed income; acquired by AIG |
| Zurich Capital Markets | President & COO | Not disclosed | Structured finance/capital markets leadership |
| J.P. Morgan Chase | Global Head of Proprietary Trading; Co‑Treasurer | Not disclosed | Trading, treasury, capital markets leadership |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| BridgeBio Pharma, Inc. (NASDAQ: BBIO) | Director | Current | Not disclosed |
| PNC Financial Services Group, Inc. (NYSE: PNC) | Director | Current | Not disclosed |
| Equitable Financial Life Insurance Company (subsidiary) | Director | 2025– | Franchise board role |
| Equitable Financial Life Insurance Company of America (subsidiary) | Director | 2025– | Franchise board role |
Board Governance
- Independence: Board affirmatively determined Dachille is independent; independence review considers bright‑line NYSE criteria and immaterial relationships; all current directors comply with outside board limits (≤4 public boards) .
- Committee assignments: Finance and Risk Committee member since February 13, 2025; all current members independent. Chair: Charles G. T. Stonehill. The committee oversees liquidity, capital management, ERM, and risk appetite; held five meetings in 2024 (Dachille joined in 2025) .
- Executive sessions: Non‑management directors meet in executive session each regular board meeting; independent directors also meet annually in private session; Chair presides .
- Attendance: Directors are expected to attend annual meetings; all directors then serving attended the 2024 annual meeting .
- Tenure: Director since 2025 .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non‑employee director) | $125,000 | Standard EQH director cash retainer |
| Committee chair retainers | $35,000 Audit; $25,000 Compensation & Talent; $20,000 Nominating & Corporate Governance; $20,000 Finance & Risk | Paid to chairs only |
| Independent Chair additional cash retainer | $100,000 | Applies to Board Chair |
| Annual equity retainer (EQH common stock) | $175,000 | Granted to non‑employee directors; time‑based vesting per plan terms |
| Independent Chair additional equity retainer | $105,000 | Additional equity for Board Chair |
| Meeting fees | Not disclosed | No per‑meeting fees disclosed |
Program note: EQH increased the annual equity retainer by $15,000 for 2024 (to $175,000) and the Independent Chair’s additional equity retainer by $5,000 (to $105,000) .
Performance Compensation
- Not applicable for directors. EQH director equity awards are time‑based; no PSU/option performance metrics are used for director grants .
Other Directorships & Interlocks
| External Board | Sector Overlap with EQH | Potential Interlock/Conflict | Board’s Independence View |
|---|---|---|---|
| BridgeBio Pharma, Inc. | Limited overlap | None disclosed | Board deemed Dachille independent after review |
| PNC Financial Services Group, Inc. | Financial services | None disclosed | Board deemed Dachille independent; outside affiliations monitored, all directors within overboarding limits |
Expertise & Qualifications
- Capital markets, balance sheet management, and risk management expertise with 30+ years across insurance and financial services .
- Senior executive experience (CIO, President/COO) and governance experience on public company boards .
- Finance/investments and insurance background aligns directly with EQH Finance & Risk oversight needs .
Equity Ownership
| Holder | EQH Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Douglas Dachille | 0 | <1% | As of March 24, 2025 |
- Director stock ownership guidelines: Non‑employee directors must hold 5× the annual cash retainer (excluding committee fees) in EQH common stock; must retain 50% of shares received as compensation until guideline is met .
- Hedging/pledging: Directors are prohibited from hedging or pledging Company securities (reduces alignment risks) .
- AB Units: No AB Holding Units/AB LP Units reported for Dachille .
Governance Assessment
- Board effectiveness: Dachille’s Finance & Risk assignment matches his CIO and capital markets profile; committee independence and robust risk oversight mandate support high‑quality governance .
- Independence and overboarding: Affirmed independent; current outside boards (PNC, BBIO) keep him within EQH’s ≤4 public boards policy; Board annually reviews affiliations and time commitments, mitigating conflicts/overboarding risk .
- Ownership alignment: As a new director, he held 0 EQH shares as of March 24, 2025; EQH’s mandatory 5× retainer ownership guideline and equity retainer design should improve alignment over time; hedging/pledging bans reduce red‑flag risk .
- Compensation signals: EQH director pay is a balanced cash/equity mix, with prior increases focused on equity, consistent with shareholder alignment; no performance equity for directors, minimizing metric gaming risk .
RED FLAGS / Watch items
- Current EQH share ownership at 0 as of March 24, 2025; monitor progress toward director ownership guideline compliance typical for newly appointed directors .
- External financial services board seat (PNC): while deemed independent, continue monitoring for any related‑party transactions or capital markets exposures that could create perceived conflicts; none disclosed in the proxy .