How much are bankers worth?

Lecture with Sir Howard DAVIES, Economist; Former Director, London School of Economics; Former Deputy Governor, Bank of England.

 

In most western countries income inequality has risen sharply in recent years. Financial sector workers, especially in the traded markets, have seen their rewards rise most. Why has that happened? Should we care? If so, what can and should be done about it?

 

Sir Howard DAVIES is a British economist. Davies served as Director of the London School of Economics and Political Science from 2003 to May 2011. Previously,  Davies was executive chairman of the Financial Services Authority from 1997-2003. He was the first chairman of the FSA, the single financial regulator for the UK financial sector, which he formed from nine previously separate bodies. He was deputy governor of the Bank of England from 1995 to 1997, when the incoming Labour government asked him to create the new regulator. Davies was previously employed by McKinsey and Company and was Special Advisor to the Chancellor of the Exchequer. He was also previously employed at the Treasury and the Foreign and Commonwealth Office, which included a posting of Private Secretary to the British Ambassador to France. Davies served for three years as Director General of the Confederation of British Industry.