FINANCIAL NEWS’ ANNUAL LIST OF THE MOST INFLUENTIAL PEOPLE IN EUROPEAN CAPITAL MARKETS
LONDON, July 7, 2014 — This year’s FN100, Financial News’ tenth annual list of the 100 most influential people in European capital markets, features Mark Carney, governor of the Bank of England, in the number one slot. He moves up from third place last year and bumps out Mario Draghi, President of the European Central Bank, who had previously headed the list for three consecutive years.
And in the FN100’s tenth anniversary year, three names are honored for having appeared on the list every year of the decade: Michael Spencer, CEO of ICAP; Alan Howard, co-founder of Brevan Howard Asset Management and Michael Sherwood, Co-CEO, Goldman Sachs International.
“The 100 people we’ve selected each year have made a real contribution to the European capital markets industry. The changing names, order of people and sectors represented is indicative of the shifting focus we’ve seen emerge over the past decade”, said Gren Manuel, editor, Financial News.
“Producing the tenth anniversary list has provided us with the opportunity to look back at some of our past winners, including Mario Draghi, Anshu Jain, Bill Winters, Bob Diamond, Josef Ackermann and Michael Sherwood, and to take stock of what put them at the top of the list”, Mr. Manuel added.
Mark Carney’s place at the top of this year’s list is telling. It’s the first time a governor of the Bank of England has topped the list, and reflects how the nature of regulation is changing. Carney also holds the role of chairman of the Financial Stability Board, which proved to be the deciding factor.
The likelihood that he’s going to be the first premier league central banker to raise rates after the financial crisis also increases his influence. In trying to manage this process, Carney has made a clear break with the past by trying to directly speak with consumers and business, rather than speaking the language of city economists. He has also sought to restructure the character of the central bank, in part by installing a new team at the top, including high-profile women – one of whom, Nemat Shafik, has made it into this year’s list.
This year’s list includes the return of dealmakers Michael and Yoel Zaoui, who have set up their own M&A boutique firm since leaving Morgan Stanley and Goldman Sachs. Similarly, Dominique Cerutti has returned to the FN100 following IntercontinentalExchange’s decision to spin off the Euronext brand, which he now leads as a separate entity.
There are a number of other notable additions to the FN100. Andrew Balls, the younger brother of Shadow Chancellor Ed Balls has gone straight into third spot in the asset management category, following his promotion to deputy chief investment officer at Pimco.
Goldman Sachs dealmaker Karen Cook has also been recognised for working on a number of high profile deals. Her inclusion brings the total number of women in the list to 10 – its highest number since the first list began in 2005. However, the progress of women in the highest ranks of the financial services industry remains slow.
Other new entrants to the FN100 include: Simon Borrows (3i Group chief executive), Peter Davies and Stuart Roden (Co-heads of the developed market strategy at hedge fund manager Lansdowne Partners), Jose-Luis Guerrero (HSBC’s head of investment banking, EMEA), and Abdallah Nauphal (Chief executive, Insight Investment).
There have also been some notable exclusions from this year’s list, including Eric Bommensath, who manages Barclays’ “bad bank” and Peter Nielsen, Royal Bank of Scotland’s co-head of markets.
FN100 2014 —THE TOP 10
JOB TITLE/ COMPANY
Governor, Bank of England and Chairman, Financial Stability Board
Co-Chief executive of corporate and investment banking, JP Morgan
President, European Central Bank
Chief executive, London Stock Exchange Group
Co-head of corporate banking & securities and head of markets, Deutsche Bank
Chairman, European Securities and Markets Authority
Co-CEO, Goldman Sachs International; Co-head of global investment banking, Goldman Sachs
During the past three months, Financial News’ team of journalists canvassed the market for opinion and drew up long lists within each of the 10 categories: regulators, investment bank chief executives, investment banking, capital markets and advisory, market infrastructure, sales and trading, asset management, pensions, hedge funds and private equity. All nominees had to be based in Europe, the Middle East or Africa.
Candidates were then marked by an editorial panel for influence in their area, leadership within their sector, performance and innovation over the past year, and their capacity to shape their business and/or industry over the year to come. The list was then whittled down to the final 10 and ranked for each of the 10 sectors. All the research was conducted by Financial News’ reporters who also wrote the profiles.