J.P. Morgan Asset Management held an inaugural meeting with M&G plc board chair Mike Evans, following the company’s spinoff from Prudential plc in October. Discussions covered board composition, skills and diversity, compensation, cyber security and broader cultural issues, as well as the recent gating of the M&G Property Fund due to concerns over liquidity. Compensation has caused concern among shareholders, as it is based on the Prudential model (a much larger organization). There are also concerns that historic lack of investment in M&G’s systems leave it exposed to heightened cyber risk during the transition to newer technology. M&G’s ‘old school’ culture has also been the subject of recent press articles, alleging a culture of intimidation and bullying in certain departments. Evans stated that culture was a subject the board takes very seriously, and that ‘at least one individual’ has been terminated as a result.