Emilios Avgouleas speaks at a High Level Workshop on Banking Reform in the UK
Thu 3 April 2014
He was invited to give the opening talk at the workshop, which was organised by the consumer protection organization Which? and the Westminster Forum in London, and featured high level policy-makers and industry leaders on UK banking reform.
Emilios was the sole academic invitee in a list of speakers that included Andrew Bailey, Chief Executive Officer, Prudential Regulation Authority and Deputy Governor for Prudential Regulation, Bank of England, Sir Richard Lambert, Chairman, The Banking Standards Review, key Parliamentary policy-makers, including the Rt Hon the Lord Lawson of Blaby, Parliamentary Commission on Banking Standards and formerly Chancellor of the Exchequer and Lord Turnbull, Parliamentary Commission on Banking Standards, representatives from public interest organisations such as Professor Sir Peter Rubin, Chair, General Medical Council, Peter Vicary-Smith, Group Chief Executive, Which?, Stephen Haddrill, Chief Executive Officer, Financial Reporting Council and key industry leaders including James Chew, Group Head, Regulatory Policy & Development, HSBC, and Stephen Smith, Director, Retail Competition and Regulatory Strategy, Lloyds Banking Group.
The list of attendees included managing directors and directors from all major UK and US financial firms in London and several high profile partners from leading City law firms as well as European and UK press representatives.
Emilios' presentation focused on the broader picture and discussed rationales for ring-fencing retail banks in the UK, evaluating the perceived advantages and disadvantages of this key reform. Emilios concluded that ring-fencing will indeed make safer the UK retail banking sector but it will not solve wider financial stability issues that will also have to be tackled.
The full programme of the workshop can be found here.
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