Sukh Grewal

About Sukh Grewal

Sukh Grewal, age 36, is Janus Henderson’s Head of Strategy & Corporate Development (since September 2022) and has been appointed Chief Financial Officer effective April 1, 2026; he has 14 years of financial industry experience and holds a B.S. in finance and management from NYU Stern School of Business . His strategy role has driven acquisitions and partnerships (Tabula Investment Management, NBK Capital Partners, Victory Park Capital; Privacore Capital and Guardian), aligning corporate development with JHG’s three strategic pillars . Company performance during 2024 featured 47.5% total shareholder return, +18% adjusted revenue growth to $1,940.8 million, and adjusted operating margin expansion to 34.4%, evidencing improved execution and value creation context for his mandate .

Past Roles

External Roles

No public-company board roles were mentioned in JHG’s 8-K biography and press release for Grewal .

Fixed Compensation

As of his appointment (Aug 18, 2025), JHG disclosed “no new compensatory arrangements” tied to Grewal’s CFO designation; any future terms will be disclosed in subsequent filings .

Performance Compensation

Company program design (applies to NEOs; Grewal’s future awards expected to follow these constructs once disclosed):

• Annual scorecard weightings:

  • Financial Outcomes (revenue growth, operating margin expansion, TSR) – 25%
  • Client Outcomes (investment performance, client satisfaction, net AUM flows) – 25%
  • Strategy – 25%
  • Culture – 25%

• Long-term incentives and vesting mechanics:

  • RSUs vest ratably over 3 years; dividend equivalents are paid on unvested RSUs .
  • PSUs cliff-vest after 3 years, with shares earned via a matrix combining annual net new revenue growth and adjusted operating margin, modified by relative TSR and net flows at the end of the 3-year period .

Equity Ownership & Alignment

• Executive stock ownership guidelines: CEO 10× base salary; other Executive Committee members 3× base salary, to be met within five years; executives are restricted from selling until guidelines are met .
• Share Trading Policy prohibits hedging, short selling, trading in options/derivatives on JHG stock, and pledging or holding JHG shares in margin accounts .
• Clawback policies: (i) malus/clawback for misconduct, misstatements, material financial changes, or risk management failures for LTI awards since 2020; (ii) Dodd-Frank/NYSE clawback for incentive-based compensation received on/after Oct 2, 2023 where restatements affect financial reporting measures .
• Beneficial ownership: Grewal was not listed among executive officers or management holders in the 2025 proxy’s ownership section (reflecting the roster as of the proxy date); future proxies post-effective appointment are expected to include his holdings .

Employment Terms

• Appointment: CFO and Head of Strategy & Corporate Development effective April 1, 2026; will join Executive Committee .
• As of appointment date, no compensatory arrangements were entered into; future material terms will be disclosed in subsequent filings .
• Related party and family relationships: Company reported no transactions requiring Item 404(a) disclosure and no family relationships with directors/executive officers .
• Company-wide policies: “No change-in-control agreements or single-trigger vesting” and robust clawbacks; see Compensation Policies and “What We Don’t Do” disclosures .

Performance & Track Record

• Strategic execution examples include acquisitions and partnerships led under Grewal’s strategy remit (Tabula, NBK Capital Partners, Victory Park Capital; Privacore, Guardian) supporting Amplify/Diversify pillars .

Compensation Committee & Governance Context

• Human Capital & Compensation Committee (independent): Alison Quirk (Chair), Eugene Flood Jr., Josh Frank, Angela Seymour-Jackson; functions include executive pay, incentive plans, stock ownership guidelines, and succession planning .
• Say-on-pay outcome: 98.7% approved for 2024 program; Board noted strong shareholder support and maintained PSU matrix design and 60% LTI deferral for NEOs .
• Compensation peer group (used for market reference, not formulaic pay-setting): Abrdn, AllianceBernstein, Ameriprise, AMGM, Artisan, Cohen & Steers, Federated Hermes, Franklin, Invesco, Lazard, Man Group, M&G, Schroders, T. Rowe Price, Victory Capital, Virtus .
• Principal shareholders: Trian Fund Management L.P. beneficially owned ~20.2% of common shares as of March 10, 2025 .

Risk Indicators & Red Flags

• Hedging/pledging prohibited; options trading prohibited; short sales prohibited, reducing misalignment and leverage risks .
• Strong clawback framework (malus/clawback and Dodd-Frank/NYSE restatement-based clawback) enhances pay-for-performance discipline .
• Appointment 8-K disclosed no related party transactions and no family relationships for Grewal .
• Company policy states no change-in-control agreements and no single-trigger vesting on change of control .

Investment Implications

• Compensation alignment: Expect future Grewal compensation to mirror JHG’s scorecard-driven STI and 3-year RSU/PSU LTI constructs, tying awards to net new revenue growth, adjusted operating margin, and TSR/net flow modifiers; this aligns incentives with organic growth, margin expansion, and shareholder returns .
• Selling pressure risk: Standard 3-year vesting mechanics (RSUs ratable; PSUs cliff) typically elongate the timeline for realized equity, moderating near-term insider selling pressure once awards are granted, within JHG’s prohibition on hedging/pledging .
• Retention and execution: The appointment consolidates finance and strategy under a single executive; his track record in M&A and partnerships supports continued Amplify/Diversify execution while governance safeguards (clawbacks, ownership guidelines) reinforce long-term alignment .
• Governance and shareholder support: A 98.7% say-on-pay approval and independent compensation oversight reduce compensation-related headline risk; Trian’s significant stake provides additional external discipline on capital allocation and strategic outcomes .