Autonomy: the people who work for N+1 enjoy a high level of autonomy in their work. And, in exchange, we demand ultimate accountability for the work performed.

Decentralisation of business decisions: in keeping with the above, the different business areas have total autonomy when taking the business decisions which pertain to them. Management in each area is totally independent and separate.

Centralisation of expenses and systems: the Group’s expense, system and service policy is centralised to maximise efficiency of the resources employed.

Horizontality: we have a very horizontal organisation. The authority principle which works best is professional competence. We are not in favour of hierarchical organisations as the businesses we operate call for a combination of order and chaos. Without chaos, there are no ideas and without order, we cannot offer a good service and performance. A company that provides very high value added services to knowledgeable sophisticated customers needs to adapt its organisation constantly in order to ensure that chaos and order can co-exist.

Transparency: although  the Group is not listed, N+1 informs its customers of the  company’s performance in its annual report, which contains financial statements audited by Deloitte. It also provides on-going information through this corporate webpage while alerts, notes and reports issued  by the business areas ensure that customers are further informed. Additionally, our employees are informed on a quarterly basis of the  Group’s economic-financial performance and any other significant issue which may arise.

Strategic and operational management: the Group’s strategy is determined by the Management Committee, which is made up of the partners responsible for the different business lines and areas. Nonetheless, strategy meetings are held annually with all the Group’s professionals, in order to build the company’s long-term principles bottom-up. The operations management of each business area is handled by the Business Committee of the relevant area and is fully independent and autonomous.

Code of Conduct: there is a code of conduct which must be observed by everyone working in the Group. There are also strict rules for managing any potential conflicts of interest triggered by operations.

Financial policy: The N+1 group is human capital intensive. We have a sufficient level of equity to comply with legal coefficients and offer our customers adequate assurance.  We are not inclined to hold excess resources or capital with respect to our level of operations for two reasons: firstly, because the excess of capital may give rise to an inclination to comfort and secondly, because it may lead to inadequate investment or unnecessary expense. Thanks to this policy our pay-out stands at 100% (following the self-financing of the Group’s  budgetary investments).