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Tomorrow’s Value Lecture: Dominic Barton, Global Managing Director, McKinsey & Co

15th May 2013 @ 8:00 am - 5:00 pm

Venue: The Carpenter’s Hall

The Tomorrow’s Value lecture series invites some of the most senior figures from the global business world to explore what we mean by value – how it is created, how it can be measured, and what the drivers of value creation are. These issues are set out in depth in our briefing paper.

Beyond that, we are asking business leaders how they link creating business value with values. Are businesses simply about improving the bottom line or must they contribute to the wellbeing of the wider community? Was the cult of shareholder value responsible for some corporate excesses and what might replace it?

We are honoured and delighted that the next lecture in the series will be delivered by Dominic Barton, Global Managing Director of McKinsey & Company, the leading global management consultancy firm and trusted advisor to businesses, governments and numerous institutions.

Dominic will be setting out his arguments for capitalism for the long-term, what this means for finance and particularly what it means in the context of the City of London. Following the financial crisis, business as usual is no longer enough. As the fall-out from the crisis unfolds through challenges to global governance systems, international security issues, rising trade tensions, migration and resource constraints  he argues that “For business leaders, however, the most consequential outcome of the crisis is the challenge to capitalism itself.”

He will be setting out his three recommendations for business leaders to help reform capitalism, strengthen the system and unleash the innovation needed for “a new era of shared prosperity”:

  1. Fight the tyranny of short-termism
  2. Serve stakeholders, enrich shareholders
  3. Act like you own the place

Dominic will also be building on his argument and recommendations by reflecting on work done with leading American pensions funds on ESG metrics and the role of the asset owner.

We are delighted that the lecture will be introduced by Lady Barbara Judge CBE, Chairman of the Pension Protection Fund, former Chairman of the UK Atomic Energy Authority, UK Business Ambassador on behalf of UK Trade & Investment and one of the 100 most powerful women in the United Kingdom in 2013 as assessed by the Women’s Hour on BBC Radio 4. Also joining us on the panel isFiona Woolf CBE, Partner at CMS Cameron McKenna and Alderman in the City of London.

We are also delighted to be joined on the panel by Katherine Garrett-Cox, Chief Executive of Alliance Trust.

The first Tomorrow’s Value Lecture was given by Lord Stephen Green whilst in his role as Group Chairman HSBC Holdings plc – at Mansion House. Subsequent lectures have been given by Anant Nadkarni of Tata, Pavan Sukhdev Head of Green Economy Initiative, UNEP, Professor Michael Mainelli Professor of Commerce at Gresham College and Founder Director of the Z/Yen Group and Paul Walsh, CEO of Diageo; Joe Garner, Head of UK Retail and Deputy CEO of HSBC Bank plc; Paul Abberley, CEO of Aviva Investors and most recently David Brennan, CEO of Astra Zeneca; Gervais Williams, Managing Director of MAM Funds plc; John Hurrell, Chief Executive of Airmic; Robert Swannell, Chairman of M&S, Charlie Mayfield, Chairman of the John Lewis Partnership and Dick Olver, Chairman of BAE Systems.

Tomorrow’s Company and CIMA believe that the relationship between value and values is fundamentally changing: that sustainable value creation must now recognise  ‘the triple context’ combining economic drivers with social and environmental imperatives. CIMA’s qualification upholds the highest ethical standards for members throughout their careers.

Details

Date:
15th May 2013
Time:
8:00 am - 5:00 pm