Date : 27/11/2019 | Time : 6:30 pm - 8:30 pm | Location : Garden Room, Athenaeum Club
The financial crisis of 2008 left the reputation of bankers in tatters in the eyes of the public. The economic impacts of the financial crisis were seen to hit hardest on those who had no responsibility for creating it, not on the bankers whose perceived greed in selling sub prime products had caused it. An FT survey from 2018 concluded that only forty-seven bankers were sentenced to jail time for their role in the financial crisis (excluding traders and other bank staff jailed for their role in interest rate rigging and for rogue trading not directly linked to the crisis or a bank collapse).
The Brexit situation has resulted in banks moving jobs and assets out of the UK to other EU countries. The latest Brexit tracker from EY suggests 7,000 jobs and £1tn of financial assets are set to leave the UK’s shores, however, by the beginning of April 2019 research by the FT concluded that only 1,500 jobs had been relocated as banks strived to keep their options open pending resolution of the outcome of the Brexit process.
Sir Howard Davies was appointed Chairman of the Royal Bank of Scotland Group plc in 2015. He has had a distinguished career, beginning at the Treasury and the Foreign and Commonwealth Office followed by five years at McKinsey and Company from 1982-87. He was Special Advisor to Nigel Lawson, Chancellor of the Exchequer, from 1985-86, Controller of the Audit Commission from 1987-92 and Director General of the Confederation of British Industry from 1992-95.
Sir Howard was Deputy Governor of the Bank of England from 1995-97, and Chairman of the newly created UK Financial Services Authority from 1997-2003. He was Director of the London School of Economics and Political Science from 2003-11. He served as Chair of the UK Airports Commission between 2012 and 2015. Sir Howard is a Harkness Fellow.
There will be a reception at 6.30pm – wine, soft drinks and light snacks will be on offer – and the talk will commence at 7.00pm The dress code at the Athenaeum is jackets and ties for men and ‘smart’ for women. The talk will be preceded by the Harkness Fellows Association AGM. Further details and papers will be circulated to members in due course.
HFA Member – £20
Members’ guests – £15
Non-member – £23
Non-members’ guests – £20
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^ You are an HFA member if you pay an annual donation to the Harkness Fellows Association.
^^ In case we need to call about changes to the event.