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Finance

Chief Executive, Financial Conduct Authority
Former deputy Bank of England governor Andrew Bailey was named as the new head of the FCA in 2016. Now the UK’s most senior financial regulator, Bailey has warned recently over challenges posed by a rise in peer-to-peer lending, a sector valued at more than £100 billion globally. In his previous role as chief executive of the Bank of England’s Prudential Regulation Authority, Bailey oversaw the regulation of around 1,700 financial bodies. Bailey was also a former chief cashier and executive director of banking at the Bank.
CEO, Lloyd's of London
In 2014 Inga Beale became the first woman to lead Lloyd’s of London in its 325-year history. During her three years at the helm, she has overseen the opening of new offices in Dubai and Beijing and is implementing Lloyd’s modernisation agenda, embracing technology to drive efficiency. An insurance industry veteran, Beale began her career at Prudential and has worked for GE Insurance Solutions, Converium in Switzerland, and Lloyd’s managing agent Canopius. In 2015 Beale was placed top of an LGBT executive power list published by OUTStanding, and she was made a dame in the 2017 New Year Honours.
Governor, Bank of England
Mark Carney broke with convention during the run-up to the EU referendum by warning that a Brexit vote might spark a recession, but his decision to extend his time in charge of the Bank of England until 2019 was broadly welcomed for providing stability and continuity during an unpredictable time for the economy. The son of teachers, Carney studied at Harvard and Oxford and had a 13-year career with Goldman Sachs before joining the Bank of Canada, which he governed for five years. He also chairs the Monetary Policy Committee, the Financial Policy Committee and the board of the Prudential Regulation Authority.
CEO, Deutsche Bank
John Cryan took sole charge of Deutsche Bank last year and Europe’s uncertain economy continues to present challenges to Germany’s largest bank. Cryan was born in Harrogate and studied at Cambridge, working first for Arthur Andersen before joining S G Warburg. He was appointed chief financial officer at UBS AG in 2008, then moved to Temasek Holdings, Singapore’s government-owned investment company, in 2012 where he was president for Europe. Amid concerns over regulatory fines and Deutsche’s capital strength, Cryan recently assured staff that the bank’s balance sheet is more stable than it has been for two decades.
CEO, Metro Bank
As CEO of six-year-old challenger Metro Bank, Craig Donaldson has overseen the bank’s evolution from disruptive new high street presence to a 44-branch operation that recently posted its first profit. Metro became the first new UK bank in 150 years when it was established by US businessman Vernon Hill in 2010, and Donaldson hopes to see it listed in the FTSE 100 by 2019. Educated at the University of Bradford, he was previously managing director of retail products at RBS, and held several senior roles with Barclays and HBOS.
CEO, Virgin Money
‘First lady of finance’ Jayne-Anne Gadhia was hired by Richard Branson to run his bank in 2007, and he subsequently chose her to spearhead a takeover bid of Northern Rock, which she secured for £747 million in 2012. In November, Gadhia was appointed Women in Finance Champion by the UK government to encourage gender diversity in the industry. Gadhia attributes her confidence to surviving the bullying she endured as one of the first intake of girls at boarding school.
Chief Executive, Aberdeen Asset Management
Martin Gilbert co-founded Aberdeen Asset Management in 1983 and has led the firm to become one of the world’s leading independent investment managers, with more than £300 billion worth of assets. Although he was born in Malaysia, Gilbert was brought up in Aberdeen and studied at its university. He was chairman of First Group until 2014 and is also deputy chairman of Sky, where his dealmaking experience will be of benefit following a takeover bid by Rupert Murdoch’s 21st Century Fox.
CEO, Goldman Sachs International
South African-born Richard Gnodde became sole chief executive of Goldman Sachs’s international operations in 2016 following the departure of Michael Sherwood. Gnodde has been with Goldman for 30 years and has built its mergers and acquisitions business and played a key role in increasing its activity in Asia. One of his more high-profile projects at Goldman was advising steel magnate Lakshmi Mittal on his takeover of Arcelor in 2006, and he was also named as vice-chairman of the bank in December. Gnodde is a trustee of Kew Gardens and of the University of Cape Town Trust.
Group Chief Executive, HSBC Holdings plc
Stuart Gulliver has worked at HSBC for all of his career, and became group chief executive in 2011. The bank, which employs more than 265,000 people globally, has struggled in recent years amid a sharp slow-down in the Asia market, but 2016 saw the benefits of a weaker pound for a company that earns most of its profits outside the UK. Based in Hong Kong, Gulliver has been credited with bringing the bank back to its Asian roots. It was recently reported that Gulliver will step down from his role within two years.
CEO, Schroders
Peter Harrison became CEO of global asset management company Schroders last year, having first joined the firm straight out of university. He replaced Michael Dobson, who was credited with restoring the group to health during his 15 years in charge, and remains on the board as chairman. Formerly head of investments, Harrison has advocated the use of data and technology to develop investment ideas. He held roles at a number of other asset management firms including Newton, JP Morgan and Deutsche, before rejoining Schroders in 2013.
CEO, RBS
New Zealander Ross McEwan has overseen a challenging year at RBS amid the ongoing fallout of PPI mis-selling, accusations of profiteering from small businesses, and a drop in share price following the Brexit vote. The bank remains 73% owned by the taxpayer but McEwan has vowed to be making a profit by 2020. Despite failing one of his university accounting modules twice, he graduated with a degree in Business and Human Resources from Massey University in New Zealand, and worked for some time in life insurance and at Kiwi stockbrokers First NZ Capital Securities.
Chairman, Barclays and Chairman, TheCityUK
Dumfries-born businessman John McFarlane was appointed chairman of Barclays in 2015 after more than 40 years’ experience in the finance sector, including as chief executive of the Australia and New Zealand Banking Group Ltd and chairman of Aviva, where he oversaw the insurance company’s growth into one of the UK’s best-performing financial institutions. In his role as chairman of TheCityUK, an independent body that represents the UK’s financial services industry, McFarlane has warned of the potential of a ‘hard’ Brexit to undermine business confidence and trigger departures from the City.
CEO, London Stock Exchange
Since Xavier Rolet became CEO of the London Stock Exchange in 2009, the 200-year-old exchange has grown from 17th to third-largest in the world. Rolet grew up on a ‘sink’ estate in the Paris suburbs and served as a second lieutenant and an instructor at the French Air Force Academy. He gained an MBA from Columbia University and held senior positions with Goldman Sachs, Lehman Brothers and Credit Suisse First Boston before joining the board of the LSE. He was recently appointed to a committee of experts to advise Sadiq Khan on the potential consequences of the Brexit result.
Group Chief Executive, Barclays
Boston-born James ‘Jes’ Staley was announced as the new group chief executive of Barclays in October 2015, leaving his post as managing director at US hedge fund Bluemountain to take up the role. 2016 was described by Euromoney as a ‘blistering’ year for Barclays and Staley, who announced his transatlantic strategy of focusing on New York and London, offloading retail businesses in Europe and other non-core assets around the world. Prior to Bluemountain Staley was at JP Morgan for 34 years, where he ran the investment bank and management business.
Chairwoman, Santander
Chairwoman of Santander since 2015, Shriti Vadera now has additional responsibility for coordinating the financial sector's response to Brexit as chair of EFSCAC, the European Financial Services Chairmen's Advisory Committee. As a business minister under Gordon Brown, Vadera was central in drawing up a plan to save the UK's banking system following the 2008 crisis, and is valued for her understanding of both politics and finance. She was born in to Uganda to a family of Indian origin, and fled to India aged 10 after Idi Amin came to power. She later moved to the UK and studied at Oxford, beginning her career at investment bank UBS Warburg.
CEO, Prudential
Mike Wells announced a 22% increase in profits in his first full-year results at Prudential last year and the company has benefited from continued growth in its Asian business. Wells became CEO of the multinational life insurance and financial services company in 2015, having been with the group for 20 years at Jackson National Life Distributors, part of the its US arm, latterly as CEO. He was born in Canada but has US citizenship and studied at San Diego State University, working for a number of financial services firms before joining the Pru.
Chief Executive, Aviva
Since taking over as Aviva’s group chief executive in 2013, Mark Wilson has returned the insurance multinational to profit and overseen the integration of Friends Life, which it acquired in 2015 for £5.6 billion. A New Zealander by birth, Wilson studied at the University of Waikato before going on to work in insurance, beginning his career at National Mutual in New Zealand and Australia where he progressed through a number of senior management positions. He was then CEO of several AXA divisions in Asia and ran AIA, the Asian arm of US insurer AIG, for four years.
Chief Executive, Legal & General
Nigel Wilson became Legal & General’s group chief executive in 2012 having joined as chief financial officer in 2009. The insurance giant’s profits have increased by an average 8% annually since he took charge and is focusing on its UK business to foster further growth in the next five years. Wilson previously worked at McKinsey, Dixons Group and Stanhope Properties, and was deputy chief executive and chief financial officer of United Business Media. Wilson has a PhD from the Massachusetts Institute of Technology, where he was a Kennedy Scholar, and has been named City AM’s Business Personality of the Year.
CEO, Standard Chartered
American banker Bill Winters joined Standard Chartered in 2015 from Renshaw Bay, the hedge fund he founded in 2011. The bank has been seen as a safe haven post-Brexit because of its lack of European operations and faith in Winters’s leadership: at JPMorgan, where he was co-head of investment banking, he doubled investment banking profits and his successor described the task of following him as ‘not hard: it’s impossible’. Born in Connecticut, Winters studied at Colgate University and the University of Pennsylvania’s Wharton School, and has dual US and UK citizenship.
Founding Partner, Woodford Investment Management
One of the most respected fund managers in the country, Neil Woodford set up his own firm in 2014 after 26 years with his now rival Invesco Perpetual. He raised a record £1.6 billion to launch the fund, with a second, Woodford Patient Capital Trust, set up in 2015 to invest in start-up firms. Born in Henley-on-Thames, Woodford studied at the University of Exeter, and his first job was cleaning out a toothpaste machine at the Beecham’s factory. He has said that the vote to leave the EU is unlikely to have a significant long-term impact on the UK’s economy.
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