{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Boardroom Path","title":"Steven Fine on Courage, Capital and the Modern Boardroom","html":"","width":"100%","height":180,"duration":2706,"description":"What does the market see about your board that you cannot see from the inside?In this episode of The Boardroom Path, host Ralph Grayson speaks with Steven Fine, Chief Executive of Peel Hunt and co-founder of the Non-Executive Director Awards, about how boards are really judged: not by internal evaluations, but by investors, analysts and markets in real time. They explore why courage now defines great non-executive directors, how the role of the chair has grown, and why shareholder connectivity matters more than ever in a derated UK market.\"You can have the best governance in the world and no one cares. It's not reflected in the share price.\" Steven Fine, Chief Executive of Peel Hunt.Fine makes a pointed case on fund flows, noting that UK pension funds hold a historic low of around 4.4% of assets in domestic equities while comparable systems hold far more. With the Pension Schemes Act 2026 now law and the FCA's new prospectus rules live since January 2026, the conversation could not be timelier. From comply or explain to the realities of listing in the US, this is a practical guide for NEDs who want to understand how capital markets keep score.Steven Fine: Steven Fine is Chief Executive of Peel Hunt, a UK-focused specialist investment bank serving public and private companies across the FTSE 100, FTSE 250 and AIM. He joined the firm in 2006 and led its management and staff buy-out from KBC Bank in 2010, becoming CEO in 2016. Earlier in his career he was a founder member of D. E. Shaw Securities International and ran Japanese and Asian equity, convertible and derivatives operations in Tokyo. He is co-founder of the Non-Executive Director Awards, now in their 20th year, and has judged them for over 15 years. Steven also serves as Deputy Chair of the FCA Markets Practitioner Panel and as a non-executive director of the Quoted Companies Alliance and RetailBook, giving him a rare vantage point across capital markets, governance and board performance.Ralph Grayson:...","thumbnail_url":"https://img.transistorcdn.com/G1uU7T2K5h04MQMPyxv_eCIOS7fQfv5ldjQOH6K6dHU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS80MzQ1/YWYwZWI5NzIzMmIz/NzEyYWJiNTJhZGEy/NTUzOC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}