Mehdi Mahmud
About Mehdi A. Mahmud
Mehdi A. Mahmud, age 52, has served as an independent Class II director of SiriusPoint Ltd. since August 2020. He is President and Chief Executive Officer of First Eagle Investment Management and President of First Eagle Funds (both since March 2016). He holds a B.S. in electrical engineering from Yale University. The Board cites his leadership, digital strategy, and investment experience as key qualifications for service on the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Jennison Associates | CEO and Chairman of the Board | Prior to 2016 (dates not specified) | Led product/business strategy and investment supervision; oversaw institutional/retail/sub-advisory activities |
| J.P. Morgan Investment Management | Investment and management roles | Prior to Jennison (dates not specified) | Various investment/management roles |
| Credit Suisse Asset Management | Investment and management roles | Prior to Jennison (dates not specified) | Various investment/management roles |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| First Eagle Investment Management | President & CEO | Since March 2016 | Asset management leadership |
| First Eagle Funds | President | Since March 2016 | Fund leadership |
Board Governance
| Topic | Detail |
|---|---|
| Independence | Determined independent by the Board in February 2025 under NYSE and SEC rules |
| Board Class/Term | Class II; term expires at the 2027 AGM |
| Committee Assignments (2024) | Compensation Committee (member); Governance & Nominating Committee (Chair); Investment Committee (member) |
| Post-2025 AGM Committee Roles | Chair pro tem of the Investment Committee until a new Chair is appointed |
| Attendance | 100% attendance at Board and committee meetings in 2024; Board held 5 formal meetings and committees met as shown |
| Board Evaluation | Governance & Nominating Committee oversees annual board and committee evaluations; chair leads discussion of results |
| Overboarding Policy | Directors: no more than four other public company boards; Audit Committee members: no more than two other public audit committees |
| Hedging/Pledging | Prohibited for directors and executive officers (no hedging, shorting, or pledging/margin accounts) |
| Director Ownership Guidelines | Minimum of 3x annual cash retainer within five years; all independent directors have achieved or are on track |
Fixed Compensation (Director pay)
| Year | Cash Retainer | Committee/Chair Fees | Total Cash | Notes |
|---|---|---|---|---|
| 2024 | $137,500 | $20,000 (as Governance & Nominating Chair) | $157,500 | Director compensation policy provides base cash retainer and chair fees |
Performance Compensation (Equity for directors)
| Grant Date | Award Type | Number of Shares | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| May 21, 2024 | Restricted Shares | 10,528 | $137,500 | Vest on May 31, 2025, subject to continued service; annual director equity grants target $137,500 |
Policy: Independent directors receive an annual grant of restricted shares with grant-date value of $137,500, typically made around the AGM; awards vest at the next AGM .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company boards | None disclosed in his SPNT biography (bio focuses on executive roles at First Eagle; no other public company directorships listed) |
| Compensation Committee interlocks | None in 2024; no insider participation/interlocks among Compensation Committee members (which include Mahmud) |
| Related-party exposure | No related-party transactions disclosed involving Mahmud; related-party items in 2024–2025 centered on CM Bermuda and Third Point LLC |
Expertise & Qualifications
- Areas highlighted by the Board’s skills matrix for Mahmud include: board service, CEO/business head, corporate governance, financial literacy/accounting, financial services, international/global, investment industry, regulatory/government, (re)insurance industry, risk management, digital strategy/IT, sales/marketing, corporate growth strategy, HR/executive comp/talent, cybersecurity/data privacy, ESG/climate risks, and shareholder engagement .
Equity Ownership
| Metric | Amount |
|---|---|
| Beneficial ownership (common shares) | 110,199 shares (0.09% of class) |
| Unvested restricted shares at 12/31/2024 | 10,528 |
| Hedging/Pledging | Prohibited by policy for directors |
| Ownership guideline | 3x annual retainer within 5 years; independents have achieved or on track |
Governance Assessment
- Board effectiveness and engagement: Independent director with 100% attendance, chairs Governance & Nominating (drives board evaluation and composition) and serves on Compensation and Investment Committees, signaling strong governance involvement and strategy oversight .
- Alignment: Director pay mix includes annual equity with one-year vesting aligned to service; ownership policy (3x retainer) and hedging/pledging prohibitions reinforce alignment with shareholders .
- Conflicts/related parties: No transactions disclosed involving Mahmud; Compensation Committee disclosed no interlocks; his primary employment at First Eagle is not identified as a related party to SPNT in the proxy .
- Shareholder sentiment: 2024 Say-on-Pay received ~82% support, indicating generally favorable investor views on compensation governance during the year (context for overall governance climate) .
RED FLAGS
- None disclosed for Mahmud specifically: no attendance issues, no related-party transactions, no hedging/pledging, and no compensation committee interlocks in 2024 .