Lib Dem MEP beats George Osborne in global influence stakes
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.
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|