Sponsored by

Categories:Regulation

Lib Dem MEP beats George Osborne in global influence stakes

  • Print
  • Comment

Liberal Democrat MEP Sharon Bowles has been judged to have more clout than the chancellor George Osborne in a poll of the 50 most influential people in global financial regulation over the past 12 months.

Global Financial Strategy placed Bowles as the 20th most influential person, beating Osborne who was in 25th place.

But that was better than the Prime Minister David Cameron who didn’t even make the list.

Sharon Bowles

Sharon Bowles, Liberal Democrat MEP

By contrast both Germany’s Chancellor Angela Merkel and the US President Barack Obama managed fifth and sixth place respectively and even former Prime Minister Gordon Brown managed to place in at 35.

The number one spot went to Dutch central banker and chairman of the Basel Committee for Banking Supervision Nout Wellink who in 2010 unveiled what GFS describe as “game-changing” proposals on capital requirements and liquidity for the world’s banks.

Bank of England governor Mervyn King was in 39th place and Financial Services Authority chairman Adair Turner scraped in at 48th place.

Nicola York, editor of GFS, says: “Some of these individuals have brought about seismic changes to supervision structures and regulatory rulemaking.

“Others have stubbornly, but successfully, blocked radical advances despite awesome political pressure in the aftermath of the financial crisis.

“Many are recognised because of their direct contribution to decision making. Others are credited for providing the intellectual or philosophical substance behind stark or subtle yet profound changes in direction.”

The GFS Power 50 List in full

1 Nout Wellink, Chair, Basel Committee for Banking Supervision & President of De Nederlandsche Bank
2 Mario Draghi, Chairman, Financial Stability Board & Governor of Banca d’Italia
3 Jean-Claude Trichet, President, European Central Bank
4 Barney Frank, Former Chairman of US House Finance Services Committee
5 Angela Merkel, Chancellor of Germany
6 Barack Obama, US President
7 Hu Jintao, President of People’s Republic of China
8 Dominique Strauss-Kahn, Managing Director of International Monetary Fund
9 Michel Barnier, EU Internal Market and Services Commissioner
10 Timothy Geithner, US Treasury Secretary
11 Jaime Caruana, General Manager of Bank for International Settlements
12 Gary Gensler, Chairman of US Commodity Futures Trading Commission
13 Paul Volcker, Chairman of US President’s Economic Recovery Advisory Board
14 Ben Bernanke, Chairman of US Federal Reserve
15 Zhou Xiaochuan, Governor of People’s Bank of China
16 Chris Dodd, US Senator & Chairman, Former Chairman of US Senate Banking Committee
17 Sheila Bair, Chair of US Federal Deposit Insurance Corporation
18 Wolfgang Schäuble, Finance Minister of Germany
19 Christine Lagarde, Minister of Economic Affairs, France
20 Sharon Bowles, Chair of European Parliament’s Economic and Monetary Affairs Committee
21 Masaaki Shirakawa, Governor of Bank of Japan
22 Axel Weber, President of Deutsche Bundesbank
23 Jean-Claude Juncker, Prime Minister of Luxembourg & President of Eurogroup
24 Mary Schapiro, Chair of US Securities & Exchange Commission
25 George Osborne, UK Chancellor of the Exchequer
26 Larry Summers, Director of White House National Economic Council
27 Norman Chan, Chief Executive of Hong Kong Monetary Authority
28 Mark Carney, Governor of Bank of Canada
29 Duvvuri Subbarao, Chairman of Reserve Bank of India
30 Herman Van Rompuy, President of European Council
31 Agus Martowardojo, Finance Minister of Indonesia
32 Elizabeth Warren, Chair of US Congressional Oversight Panel on TARP
33 José Manuel Barroso, President of European Commission
34 Blanche Lincoln, Former Chair of US Senate Committee on Agriculture
35 Gordon Brown, former UK Prime Minister
36 Liu Mingkang, Chairman of China Banking Regulatory Commission
37 Henrique Meirelles, outgoing Governor of Central Bank of Brazil
38 Haruhiko Kuroda, President, Asia Development Bank
39 Mervyn King, Governor of Bank of England
40 Svein Andresen, Secretary General of Financial Stability Board
41 Eddy Wymeersch, former Chairman of Committee of European Securities Regulators
42 Olli Rehn, EU Economic and Monetary Affairs Commissioner
43 Dong-Soo Chin, Chairman of South Korea Financial Services Commission
44 Christian Noyer, Governor of Banque de France
45 David Tweedie, Chairman, International Accounting Standards Board
46 Spencer Bachus, Former Ranking Member on US House Financial Services Committee
47 Tharman Shanmugaratnam, Minister of Finance, Singapore
48 Adair Turner, Chairman, UK Financial Services Authority
49 Bob Herz, former Chairman, US Financial Accounting Standards Board
50 Jeffrey Owens, Director of OECD Centre for Tax Policy and Administration
  • Print
  • Comment

Daily Email Updates

If you enjoyed this article, sign up to receive the latest breaking news and analysis for your industry from Mortgage Strategy.

The Money Marketing CPD Centre

Our free service includes a CPD template tailored for mortgage advisers. Log and plan your annual CPD today with The Money Marketing CPD Centre.



Have your say Edit my profile/screen name

You must sign in to make a comment

Sponsored video - Family Building Society

Poll

Do you agree with Labour's plans to hand local councils the power to ban the sale of new-build homes for buy-to-let if it wins the next election?



Job of the week

Latest jobs

View all jobs