Hundred Group

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The Hundred Group is an elusive group of British finance directors (FD), operating as the unofficial mouthpiece of the finance function of the FTSE-100 - a voice that carries considerable resonance in business.

The organisation shares many attributes of a somewhat secretive gentlemans club, although it has raised it profile to tackle the British government on high-profile issues such as double taxation and the euro, attracting column inches in the press as a consequence.

[edit] Objectives of the Hundred Group

The key driver for the group is lobbying on behalf of FDs of the UK FTSE-100. The Hundred Group only meets to discuss specific issues; it aims to comment and offer advice on issues where it feels UK government policy is misguided. It exists to pool experience and to continue to shape the changing role of the finance director.

[edit] History of The Hundred Group

The group began life as a spin-off from the London Society of Chartered Accountants, predating the launch of the FTSE-100. Originally called the Hundred Group of Chartered Accountants, its most immediate concern was the Labour government's price control policy at a time when inflation was 2% per month. The Hundred Group soon found its feet as a forum for discussion and lobbying.

Eventually, membership was widened to include FDs who were not chartered accountants and the affiliation with the London Society of Chartered Accountants was ended. The group became the Hundred Group of Finance Directors, and non-FDs were asked to leave.

The group gained notoriety in 1993 where it effectively lobbied against the torrent of new listings rules, accounting standards, legislation and the Cadbury Report. The group convinced the authorities that more time was needed to implement all the corporate and legislative changes.

The group's paper on the euro, a united defiance against double taxation and a keen interest in pensions reform have helped raise its profile in recent years.

[edit] Membership of the Hundred Group

Participation in the group is by invitation only. Numbers are thought to fluctuate between 130 and 150 members, including representatives from multinationals and other major companies in important industries that are not part of the FTSE-100.