For part two, Bret Keisling is again joined by Graeme Nuttall, OBE (listen to Part 1 of the interview here), who discusses the differences between employee ownership trusts (EOTs) and ESOPs, how Mahatma Gandhi’s views on ownership inspired Employee Ownership 3.0, and Graeme celebrates the legacy of the late EO advocate Nigel Mason.
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Episode 172 Show Notes
Graham Nuttall, OBE, is one of the UKs leading proponents of employee ownership, including employee ownership trusts (EOTs), employee ownership purchase plans (ESOPs) and employee ownership generally. He dual qualified as an English solicitor and a chartered tax adviser and is a partner in Fieldfisher's tax and structuring practice in London and its firm wide Employee and Mutual Ownership Team.
He has a longstanding interest in ensuring organizations have the right ownership and governance structures and, in particular, he is a long time enthusiast for the employee ownership business model.He belonged to the HM Treasury Employee Ownership Advisory Group that helped develop the UK's HM Revenue and Customs approved share incentive plan and enterprise management incentives arrangement. He also drafted the Employee Share Schemes Bill, a successful Private Member’s Bill.
Mr. Nuttall O.B.E. is legal adviser to the Employee Ownership Association, the voice of co-owned business in the UK and has taken a leading role in promoting employee ownership in the UK.
He contributed to 'How to become an employee owned mutual – an action checklist for the public sector' (2011) and was appointed a Cabinet Office Mutuals Ambassador in 2012.
In 2012 he began a part-time voluntary role as the UK Government's independent adviser on employee ownership. There he produced the influential “Sharing Success: The Nuttall Review of Employee Ownership” (BIS, 2012), which made 28 recommendations under three key themes: raising awareness of employee ownership; increasing the resources available to support employee ownership; and reducing the complexity of employee ownership.
The UK Government accepted, partly accepted or supported all the Nuttall Review recommendations. Subsequently, Mr. Nuttall O.B.E. spoke at numerous conferences to promote employee ownership including at the Deputy Prime Minister's Employee Ownership Summit on July 4, 2012 (chosen specifically to coincide with the U.S. Independence Day), the launch of the Government's response to the Nuttall Review on October 30, 2012, a hearing in the European Parliament on employee ownership and participation and at the Australia & New Zealand Employee Ownership 2013 Annual Conference.
In 2014, Graeme Nuttall was made an OBE in the Queen's Birthday Honours list in recognition of his work on employee ownership, employee share schemes and public service mutuals. The award of Officer of the Order of the British Empire (OBE) is given to people including those whose work has made them known nationally in their chosen area. The honor was bestowed personally by Prince William.
On July 28, 2020, Graeme delivered The Gandhi Foundation annual lecture 2020. He joined a distinguished list of past lecturers including the Dalai Lama and a former Archbishop of Canterbury. In his lecture Graeme explored how Gandhi's theory of trusteeship can help redefine employee ownership.
He revisited ideas left open from his influential Nuttall Review of Employee Ownership as to how best to define employee ownership to serve a broader purpose so it better meets the needs of society and the environment. He described this as Employee Ownership 3.0 Since his lecture, guidelines that support Employee Ownership 3.0 have been adopted by employee ownership organizations in 7 countries.
Graeme continues to speak frequently and work tirelessly to support and grow employee ownership, not just in the United Kingdom, but internationally as well.
[Sources: "Fieldfisher Partner, Graeme Nuttall, OBE," and "Fieldfisher tax partner Graeme Nuttall named an OBE"]
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