Finance
Chairman: Paul Manduca.
The finance sector has been through a major crisis and will feel the ramifications for some time. The crisis was the worst so far seen because globalisation ensured banks in particular were affected worldwide with the ensuing lack of liquidity to support economic growth. Finance covers a wide range of sub-sectors, from banking, insurance, asset management and private equity, to policy makers and opinion formers. The list captures the leaders across these sub-sectors who are influencing and shaping Britain’s recovery.
Paul Manduca assumed the role of Chairman of Prudential plc in 2012 following a long and distinguished career in the international financial services industry. He founded Threadneedle Asset Management Limited in 1994, and has acted as Chief Executive of both Rothschild Asset Management and Deutsche Asset Management. His previous non-executive roles included Wm Morrison and Chairman of Aon UK Limited. Not only does he have the weight of experience behind him, but he is one of the few heavyweights who has not badly blotted his copybook during the credit crunch.
Mark Carney. Governor Bank of England.
Known as the George Clooney of banking, as the governor of the Bank of England Mark Carney is arguably the highest profile person in banking. Since his greatly anticipated arrival from Canada, Carney has shaken up financial services in the UK. The son of teachers, Carney received his BA in economics from Harvard before gaining his MPhil and doctorate from Oxford University. Following a 13-year career with Goldman Sachs, in 2003 Carney was appointed deputy governor of the Bank of Canada and became senior associate deputy minister of finance in 2004. In 2008, Carney was appointed governor of the Bank of Canada. In his current role Carney also chairs the Monetary Policy Committee, the Financial Policy Committee and the Board of the Prudential Regulation Authority.
Andrew Bailey. Deputy governor for prudential regulation and CEO Prudential Regulation Authority Bank of England.
In April 2013, Andrew Bailey was appointed as the chief executive of the new Prudential Regulation Authority at the Bank of England. Educated at Wyggeston Boy’s Grammar School in Leicester, Bailey achieved his BA and a PhD from Queen’s College, Cambridge. Bailey joined the Bank of England in 1985 and has since held positions in a number of areas within the bank. When the financial crisis began to take hold, Bailey was given responsibility for the bank’s special operations to resolve the problems in the banking sector. In his current role, Bailey oversees the regulation of around 1,700 financial bodies.
John Griffith-Jones. Chairman Financial Conduct Authority.
In April 2013, John Griffiths-Jones was appointed as chairman of the new Financial Conduct Authority, having joined the board as a non-executive director and deputy chairman in September 2012. From 1975 to 2012, Griffiths-Jones worked at KPMG, one of the world’s Big Four auditing firms. Having spent eleven years in audit and 15 years in corporate finance, he became CEO of KPMG’s UK firm and subsequently chairman and senior partner in 2006. Griffith-Jones became joint chairman of KPMG Europe in 2007. The Financial Conduct Authority is one of the successors to the Financial Services Authority and is designed to regulate financial firms.
Gerry Grimstone. Chairman Standard Life.
Gerry Grimstone graduated from Merton College, Oxford with a Masters in chemistry and joined the Civil Service in 1972. Rising quickly through the ranks, Grimstone held various senior positions and played a key role in the privatisation policy of the Conservative Government. In 1986, Grimstone left the public sector to join the City and in 2003 he was appointed non-executive director of Standard Life Assurance Company. Since 2007, when Grimstone became chairman of Standard Life, the company’s operating profits have increased 18% from £561 million to £660 million in 2012.
Tidjane Thiam. CEO Prudential.
Tidjane Thiam, the CEO of Prudential, was born in the Côte d'Ivoire. He was the first Ivorian to pass the entrance examination to the École Polytechnique in Paris. He graduated top of his class in 1986 from the École Nationale Supérieure des Mines de Paris. In 1986 he was offered a scholarship to study for an MBA at INSEAD and join the McKinsey Fellows Programme in Paris in 1986. Thiam began his professional career with McKinsey & Company in Paris and New York, serving insurance companies and banks. From 2008, Thiam was the chief financial officer at Prudential until he assumed the role of chief executive in 2009.
Nigel Wilson. Group chief executive Legal & General.
Nigel Wilson attended the University of Essex, where he received a degree in economics, and went on to study for a PhD from the Massachusetts Institute of Technology, where he was a Kennedy Scholar. He joined Legal & General in 2009 as group chief financial officer, where he had to support the bank in the difficulties of the financial crisis, and was made group chief executive in 2012. Prior to Legal & General, Wilson held the position of deputy chief executive and chief financial officer of United Business Media plc.
Sir Win Bischoff. Chairman Lloyds and chairman Advisory Council TheCityUK.
Win Bischoff is the chairman of Lloyds Banking Group, a role he assumed in 2009 in order to rescue the bank in its troubled aftermath of its merger with the failing bank, HBOS. Before this time, he chaired Citigroup Inc. Bischoff is also chairman of the Advisory Council of TheCityUK, the body set up to promote the financial and associated professional services industry of the UK, and is a member of a group of FTSE-100 Chairmen committed to increasing the representation of women in boardrooms to at least 30%. In 2000, he was awarded a knighthood in the New Year’s Honours list for services to the banking industry.
Sir David Walker. Chairman Barclays.
Sir David Walker, the current chairman of Barclays, has over half a century’s experience in the financial services industry. This allows him a unique perspective on the industry, enabling him to influence the sector with his authority. Educated at the Chesterfield School, Walker went on to read economics at Queen’s College, Cambridge before beginning his influential career on the square mile. Sir David has completed two reports since 2007 and made recommendations in respect of the private equity industry and corporate governance at financial institutions. The independent review of the report that the FSA produced into the failure of Royal Bank of Scotland was also co-led by Walker.
Anshu Jain. CEO Deutsche Bank.
Anshu Jain is the CEO of the world’s fourth largest investment bank, Deutsche Bank, having been appointed to the role in 2011. Having spent over 18 years with the bank, Jain has played an integral role in its growth and development. Born in Jaipur, India, Jain studied economics at University of Delhi's Shri Ram College of Commerce where he gained a bachelor's degree in 1983. His financial career began as an analyst at Kidder, Peabody & Co, which is now part of UBS. After three years he joined Merrill Lynch, where he founded and led the securities industry’s first dedicated hedge fund coverage group. In 1995, Jain joined Deutsche Bank and he has been a member of the Deutsche Bank Group Executive Committee since 2002.
Gregory C Case. President and CEO Aon.
Gregory C Case, the president and chief executive officer of Aon, has nearly two decades worth of experience in the insurance and financial services industry. Aon is one of the largest insurance brokers in the world, and in his position as CEO Case guides the efforts of 65,000 employees in approximately 500 offices worldwide. Prior to joining the company Case worked for Piper, Jaffray and Hopwood, the investment banking firm; the Federal Reserve Bank; and he led the Global Insurance and Financial Services Practice at McKinsey and Company. With the numerous changes occurring in the financial world, Aon has had to adapt to deal with the risk factors inherent to these changes.
Howard Davies. Chairman Phoenix.
Chairman of Phoenix, the UK’s chief closed life and pension fund consolidator, Howard Davies was educated at Bowker Vale County Primary School and Manchester Grammar School and gained an MA in modern languages from Oxford. He has been a prominent figure in the financial services industry for a number of years. As a former deputy governor of the Bank of England and the inaugural head of the Financial Services Authority, which Davies was tasked with establishing, he has a wealth of experience and knowledge of risk management, regulation and a broad understanding of the financial services industry as a whole.
The Lord Davies of Abersoch, CBE. Minister of state for trade, investment and small business.
Growing up in a happy, Welsh family, Mervyn Davies didn’t speak English until the age of seven and never dreamed that one day he would be in the House of Lords. He joined the banking profession straight from school, working for Midland Bank, and was soon running the branch. After an incredible career in banking, including five years as chief executive of Standard Chartered and a further three as chairman, Davies is now minister of state for trade, investment and small business. In this role Davies is tasked with leading a review into the number of women on company boards, aimed at tackling their staggeringly low representation.
Xavier Rolet. CEO London Stock Exchange.
Xavier Rolet, the CEO of the London Stock Exchange, grew up on a sink estate in the banlieue of Paris. At the age of twelve, Rolet set his sights on studying business in America. He had read that the average starting salary of their graduates was £300 a month, which to Rolet was an unimaginable amount of money. Having gained a scholarship and spent his summer selling mortgages to second-home buyers on the Mediterranean Coast, Rolet travelled to America and studied for his MBA at Columbia University. Rolet has held senior positions with Goldman Sachs, Lehman Brothers and Credit Suisse First Boston, before becoming the chief executive at the London Stock Exchange where he has been credited with transforming the struggling body.
John Cridland, CBE. Director general CBI.
John Cridland is a trusted authority for the business community on public platforms, with the government and in the media. As the director general of the Confederation of British Industry, Cridland represents businesses at home and on an international scale. Educated at Boston Grammar School, Cridland went on to receive an MA in history from Christ’s College, Cambridge. In 2006, he was appointed Commander of the British Empire for his services to the industry. Cridland is the influential voice of business in the UK.
Sir Ronald Cohen. Founder and chairman The Portland Trust.
The chairman of the G8 Social Impact Investment Taskforce, Big Society Capital and The Portland Trust, Sir Ronald Cohen graduated from Oxford University where he was president of the Oxford Union. Cohen also has an MBA from Harvard Business School. Between 2000 and 2010 he chaired the Social Investment Task Force and the Commission on Unclaimed Assets between 2005 and 2007.Cohen received the Rockefeller Innovation Award for innovation in social finance in 2012. Cohen also co-founded Apax Partners Worldwide LLP where he was executive chairman from 1972 to 2005. A founder director and chairman of the British Venture Capital Association, Cohen was also a founder director of the European Venture Capital Association.
Luke Johnson. Chairman Rick Capital Partners.
Luke Johnson is the son of historian Paul Johnson and was educated at Langley Grammar School in Berkshire. He went on to study at Oxford, during which time he interviewed Richard Branson for the student newspaper. This inspired him to go into business, and by the time he left university he and friend Hugh Osmond owned a number of businesses together. Upon graduating Johnson joined Kleinwort Benson, the investment bank, as an analyst. He organised the acquisition of PizzaExpress and floated the business on the stock market for 40p. As chairman of the business until 1999, the share price rose to over 800p and the business had earned a market capitalisation of over £500 million. In 2001, Johnson co-founded Risk Capital Partners and is involved in a number of investments.
Ana Patricia Botín. CEO Santander UK.
As the chief executive of Santander UK, one of Britain’s largest banks, Anna Patricia Botín is recognised as one of the most powerful women in the world. Botín is an avid supporter of small businesses, having run a small business herself when she founded a venture capital investment fund, called Suala Capital, in 2000. She is the first woman in history to run a major British bank but hates being singled-out for her gender. Botín’s success within the industry is not defined by her sex but by her drive, leadership and professionalism.
Douglas Flint, CBE. Chairman HSBC.
Douglas Flint is the chairman of HSBC, one of the world’s largest banks, having been appointed to the role in 2010. He began his career in finance as a trainee chartered accountant at Peat Marwick Mitchell & Co (now KPMG) and in 1988 was made a partner at the firm. In 1995, Flint joined HSBC as group finance director-designate and became chairman in 2010. Flint was appointed a Commander of the British Empire in 2006, in recognition of his extensive services to the financial services industry.
Anthony Browne. Chief executive British Banking Association.
Anthony Browne is the chief executive of the British Banking Association, the UK’s leading association for the financial services sector. At a time of huge change, reform and regulation in the banking world, Browne is a highly influential voice in the financial services industry and plays a crucial role in solving the challenges facing the sector. Previously responsible for Morgan Stanley’s government relations in Europe, the Middle East and Africa and as a former policy director for economic development for Boris Johnson, Browne brings a wealth of expertise and experience to the table. His book, The Euro - Should Britain Join: Yes or No? which detailed whether the UK should join the single currency or not, succeeded onto the Sunday Times Bestseller’s List.
Robert Peston. Financial journalist.
The son of an economist and a Labour peer, Robert Peston attended Highgate Wood Secondary School before graduating from Balliol College, Oxford. His career in journalism began in 1983 at the Investors Chronicle. Since this time, Peston has held various significant positions at The Independent, the Financial Times, the Daily Telegraph, the New Statesman and the Sunday Times. Peston then worked as the business editor of BBC News for eight years before becoming the economics editor. In the eye and aftermath of the financial crisis, Peston has become a particularly influential figure, writing and presenting various documentaries such as Britain’s Banks: Too Big To Save?; The Party’s Over – How The West Went Bust; and The Great Euro Crash with Robert Peston.
Also nominated for the Broadcasting sector.
