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Tomorrow’s Value Lecture: Tackling the Culture of Fear and Greed in the City

30th October 2012 @ 8:00 am - 5:00 pm

[Resources for this event have now been uploaded here]

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 delighted that the next lecture in the series will be delivered by Andrew Fisher, Chief Executive of Towry, a wealth advice business with 18 offices in the UK and £4.5 billion of discretionary client assets under management.

Andrew has over 20 years of experience in the financial sector. Prior to joining Towry his roles included Group Chief Executive of Coutts Group, senior adviser to the Carlyle Group and Chief Executive of Cox Insurance Holdings Plc. Andrew also sits on the Board of the National of the National Skills Academy of Financial Services and on the Development Advisory Committee at the University of Birmingham.

Andrew will be talking about the notion that the City is uniquely structured around the principles of fear and greed and will explore how and why this is so. In particular he will be talking about the impact that remuneration and incentives have in the financial sector.

The financial sector used to be the servant of commerce but has now transformed into the serpent of commerce, destroying value creation.

Players in the sector have no concept of the risk they are taking with client’s assets and yet their rewards remain disproportionately high.

Andrew will be presenting alternatives to this standard remuneration system, by examining examples such as the lockstep remuneration model, where remuneration is based on the length of service rather than individual performance.

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; and most recently Gervais Williams, Managing Director of MAM Funds plc and John Hurrell, Chief Executive of Airmic.

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.


30th October 2012
8:00 am - 5:00 pm