Non-executive

All Posts / Bank of England / Banking / Financial Services / FSA / Governance / Non-executive / Regulation — No Comments
18
Apr 12

Bank governance: rejecting the check list

Morality and psychopaths

We all have a guilty secret. Confession is good for the soul, so in this post-Easter period, let me come clean about mine. It happened in the spring of 2008.

Shamsad Akhtar, the outstanding governor of the central bank of Pakistan at the time, was under attack from the government and her reappointment for another three year term looked uncertain. In an attempt to bolster her position, while I was on a visit to Karachi, she insisted I interview her on Pakistan state television. For 40 minutes we were filmed discussing monetary policy, provisions for bad loans, interest rate increases and the like. This was broadcast that very evening in the fifth largest emerging market by population. Villagers in the lawless regions on the frontiers with Afghanistan, the military in their secure compounds and government ministers in their mansions all shared one sentiment only: paralysing tedium.  Continue reading...

All Posts / Banking / Governance / Non-executive — Comments Off
14
Nov 11

Germany thanks the southerners

Saudi investment opportunities

Angela Merkel today gratefully acknowledged the southern European contribution to the euro. “Without the incorporation of those sunny southerners, the euro would be the deutschmark. It would have reached Swiss franc levels, ruining our exports,” she stated, while munching on sardinas at the opening of the Museum of Greek Siestas & Tax Evasion. “Instead, we have this delightfully devalued deutschmark, which has allowed our trade surplus to reach a three year high.”

As she flicked the tail of her flamenco-inspired suit, she thanked Germany’s fellow members in the EU and the Eurozone for being responsible for nearly two thirds of the country’s foreign trade. “Vielen Dank for being less competitive than us and buying our goods,” said Merkel, as she headed off for a week’s holiday in the newly opened Deutsche Acropolis Hotel in Athens.  Continue reading...

Banking / Financial Services / FSA / Governance / Non-executive / Regulation — Comments Off
14
Sep 11

New era regulators and a passionate conversion

How tinkering may ruin bank boards

Take a look at the Financial Times, where Robinson Hambro authored an editorial on the Financial Services Authority and its excessive interference in the running of the boards of banks.

Or read the article in the text below:

The passion of the convert is a frightening thing. Be it former smokers who cast glances of derision at office staff puffing away on the pavement or, more specifically, the regulatory backlash on the back of the financial crisis, converts allow little room for a nuanced approach.  Continue reading...

All Posts / Banking / Financial Services / Governance / Non-executive — Comments Off
6
Mar 11

Dilemmas: cocos, Libya and women on boards

BA’s Walsh on the global economy

"They are Black Gold," said the Libyan tour guide, pointing at the Africans nearby.

During a visit to Libya a few years ago, I realised that there were more sources of revenue in the country than just oil and sparse tourism. The latter at least meant that Leptus Magna, Apollonia and Sabrata, the most magnificently preserved Phoenician, Roman and Greek ruins in Northern Africa, were not overrun by the masses.  Continue reading...

← Older Entries