Since 2001 – Evolving portfolio of non-executive board directorships including:
ICE Benchmark Administration (IBA) (2016- )
Chair of University College London (UCL) (2014- )
Jones Lang LaSalle (2008- ); New York Stock Exchange listed
Deloitte LLP (2011-14)
Chairman of Chatham House (2003-12)
Roche (2002-16); Swiss Stock Exchange listed
BP plc (2001-11)
Serco Group plc (2001-07)
Lloyds TSB (2001-07)
Bank of England Court (2001-04)
Roles on these boards included chairing Audit (Roche), Remuneration (BP) and Pension Investment (Bank of England) Committees; Senior Independent Director (Serco) and serving on Public Interest Oversight (Deloitte), Nomination, Finance, Executive, Audit and Remuneration Committees.
1997 – 2001
Member, Monetary Policy Committee, Bank of England
Appointed by HM Treasury as an independent founding member of the MPC charged with meeting an inflation target set by Government. Developed initial meeting and minutes protocols. Testified before Treasury Select Committee and House of Lords Committees. Spoke at business events around the country on monetary policy issues.
1993 – 1997
Chief Economist, British Airways PLC, London
Part of senior management team and deputy head of the Strategy Department. Led many cross-functional teams on projects including global scenarios for the airline industry, a strategic audit to chart the company’s direction for the coming decade and a review of the BA-Qantas alliance. Produced demand forecasts and advised on pricing issues. Corporate spokesman on economic policy issues.
1995 – 1997
Chairman, British Airways Pension Investment Management Ltd
An independently incorporated subsidiary managing £6.7 billion of pension fund assets. BAPIML’s investment performance was in the top 10% of large UK pension funds with cost/AUM (Assets Under Management) in the bottom quartile.
1989 – 1993
Chief Economist, Royal Dutch Shell Group, London
Advisor to top management and Board on economic developments in major markets. Built “Shell Scenarios” and facilitated scenario-to-strategy workshops for country managers around the world. Led team on carbon tax positioning.
1986 – 1989
Director of International Economics Programme, Royal Institute of International Affairs (Chatham House), London
Published research on the international boom in foreign direct investment, service trade liberalisation and the monetary integration of Europe.
1983 – 1986
Managing Director, Logan Associates Inc, Washington DC and London
Led a small consulting group to advise business and governments on investment strategy and pricing for major commercial projects. Negotiated and managed over 20 contracts with developing countries and international organisations. Wrote policy papers for the World Bank on public sector pricing guidelines in 13 sectors.
1975 – 1982
World Bank, Washington DC
Project Economist (75-79), Senior Economist (79-80), Economic Advisor for Energy (81-82)
Joined through Young Professionals Program and worked on a wide variety of projects in over 20 developing countries. Carried out studies of marginal cost pricing for electricity and natural gas projects and negotiated the implementation with governments. Led teams of technical and financial specialists to appraise projects in health & sanitation, water supply, electricity and natural gas in Asia and Africa. Managed unit to vet energy investments ($10 bil/yr) worldwide.
1972 – 1975
Lecturer and Teaching Assistant, Santa Barbara and Davis campuses, University of California (part-time while undertaking Ph.D)
At Santa Barbara, taught graduate sequence in economic development. At Davis, taught undergraduate statistics and macroeconomic theory. Award for teaching excellence.
1970 – 1971
Economic Analyst, US Government Civil Service, Washington DC
Initial assignment to the CIA to analyse balance of payments problems of developing countries.
OTHER CURRENT/PAST ACTIVITIES:
Temasek International Panel, Singapore
International Advisory Council, China Investment Corporation
Advisory Board, Rock Creek Global, Washington DC
Panel of Senior Advisors, Chatham House
Financial Times commentator on ‘The Exchange’
Vice President, Society of Business Economists (2002-17)
Vice Chair, United for Wildlife International Taskforce on Transportation and the Illegal Wildlife Trade, The Royal Foundation of The Duke and Duchess of Cambridge and Prince Harry (2015-16)
Senior Advisor, Fathom Financial Consulting Ltd, London (2008-11)
Department for Business: Julius Review of Public Services Industry (2008)
HM Treasury: Chairman, Review of Banking Consumer Codes (2001)
Cabinet Office Commission on the Future of Farming and Food (2001)
Committee of Vice Chancellors and Principals (CVCP) Funding Options Review Group (2000)
MA (1974) and Ph.D (1975) in Economics, Univ of California (Davis)
BSc with Distinction (top 2%) in Economics, Iowa State Univ (1970)
Honorary doctorates: Universities of Warwick (2000), Birmingham (2001), South Bank (2001), Bath (2002) and Iowa State (2015)
Fellow, Society of Professional Economists
CBE (2001) for services to Monetary Policy
DCMG (2013) for services to International Relations
Dual UK/US citizen, married with two adult children
Interests include skiing, sailing, bonsai and Japanese gardens