University of Bath - School of Management - CGR seminar series 2017

Centre for Governance and Regulation

University of Bath School of Management University of Bath School of Management

CGR seminar series 2017

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Environment, technology and regulation
April - June 2017

While it is common to associate the financial crises of 2007 with deregulation and the reckless behaviour of financiers, there is no doubt that the creation of new financial instruments and a significant gap in our understanding of their potential effects also contributed significantly to the excessive lending and risk taking that brought the financial markets to their knees. Hence, it is now well recognised that having the "right" regulation to deal with innovation is one of the fundamental building blocks of sound financial markets. However, knowing what is "right" and what is "not so-right" faces its own challenges in markets that are constantly and ever more rapidly changing.

In a new seminar series, organised by the Centre for Governance and Regulation, we explore these critical challenges. The "Environment, technology and regulation" seminar series brings top UK regulators and policy makers to talk about the future industry and regulatory challenges that result from climate change and the rapidly increasing pace of technological progress in the financial and energy sectors. Both these sectors are fundamental to the economy and are going through rapid innovation and change. For example, the impact of fintech on financial and insurance markets; the effect of climate change on the stability of financial markets and how we can deal with it; and how innovation and climate change are dramatically changing the nature of energy markets and the regulation problems we face as a result, are a few of the topics that will be covered in the series of seminars.

Registration

All talks are free but spaces are limited. Please register in advance.

Register for one or more seminars.

Contact

Professor Ania Zalewska a.zalewska@bath.ac.uk

Seminar schedule

The risks from climate change for the financial sector
Paul Fisher, Member of the EC High Level Experts Group on Sustainable Finance

Friday 28 April 2017, 3.00-4.00pm, 8W 3.14

Portrait of Paul Fisher

Paul Fisher is, among other positions, a Member of the EC High Level Experts Group on Sustainable Finance, Associate of the Systemic Policy Partnership which advises on national Financial Stability governance arrangements, Non-Executive Director at the UK Debt Management Office, Chair of the London Bullion Market Association, Senior Associate at the Cambridge University Institute for Sustainability Leadership (CISL) and through them, Vice-Chair of the Banking Environment Initiative.

Paul was a policy maker at the Bank of England for 26 years, which included serving on the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority as well as on a number of international committees. At the Bank of England, Paul was the Executive Director for Markets from 2009-14, the Executive Director for Insurance Supervision 2014-15 and Deputy Head of the Prudential Regulation Authority (PRA) 2014-16. During his time in the PRA he also had responsibility for coordinating the Bank's work on climate change on behalf of the Governor, Mark Carney.

Traditional insurance meets InsureTech
Tangy Morgan, Senior Economic Advisor, Bank of England (PRA)

Monday 8 May 2017, 3.00-4.00pm, 8W 3.14

Portrait of Tangy Morgan

Tangy C. Morgan is a Senior Advisor to the Bank of England and Strategia Worldwide Ltd. She also acts as an angel advisor to Silicon Valley and London based start-ups in the emerging Insuretech sector. Tangy held progressively senior executive roles in the US and Bermuda (re)insurance markets before relocating to London in 2002.

She was Senior Vice President of Starr Excess International (AIG) UK and Ireland Excess Casualty Division where she was responsible for a global portfolio of catastrophe liability insurance of the Fortune 1000 companies. In 2008, Tangy accepted the newly formed role of Deputy Head of Syndicate Underwriting Performance at the Corporation of Lloyd's of London. At Lloyd's, she was responsible for the profitability of syndicates in the £25 billion market. In 2012, after leaving Lloyd's, Tangy formed Fisher Morgan Consultancy to advise investors and organisations on the Lloyd's and London (re)insurance market.

Prior to her (re)insurance career, Tangy was an Oil and Gas Production Analyst in Conoco, Inc. North American Production Division. She holds a B.S. in Business Management from Tennessee State University and a Master of Science Degree in Business Continuity, Security and Risk Management from Boston University. Tangy is a member of the Alumni Advisory Board of Tennessee State University, Nashville, TN and a Trustee of the Ethnic Minority Foundation, London, UK. She is active in Democrats Abroad UK and the University Women's Club, Mayfair London.

Financial services regulation and innovation: how does a regulator keep pace with change and innovation in the market and how should new services be regulated?
Christine Farnish, Chair to Peer-to-Peer Finance Association

Tuesday 23 May 2017, 4.00-5.00pm, 8W 3.14

Portrait of Christine Farnish

Christine Farnish is the Chair of Peer-to-Peer Finance Association, Non-Executive Director of GEMA, Non-Executive Director of Ofwat, Member of AXA's Stakeholder Advisory Panel.

Christine has worked at senior level in financial services since 1998 when she was appointed Consumer Director at the FSA. She joined the National Association of Pension Funds as CEO in 2002 and was Group MD Public Policy at Barclays from 2006 to 2011. She was Consumer Director at Oftel from 1994 to 1998. She has served on the Boards of the Office of Fair Trading, the Advertising Standards Authority, ABTA, Aggregate Industries, ING Direct, NHS Trusts and Consumer Focus which she chaired from 2010 to 2014. She undertook a review of the Money Advice Service for the Treasury in 2014. Christine was awarded a CBE in 2013. She is married with four grown up children.

The future energy system: Challenges, uncertainties and opportunities
Dermot Nolan, Chief Executive Officer of Ofgem

Monday 5 June 2017, 3.00-4.00pm, MBA suite, Edge Building

Portrait of Dermot Nolan

Dermot Nolan joined Ofgem as Chief Executive Officer in March 2014. He brings with him extensive leadership experience in energy regulation, market competition and the protection of consumers' interests having most recently been Commissioner at the Commission for Energy Regulation in Ireland from May 2008 and its Chair since May 2011. Prior to this, he was Senior Economic Adviser at the Commission for Communications Regulation and was manager of the mergers division for the Irish Competition Authority. A graduate of Trinity College Dublin, he undertook further study at Yale where he gained a PhD in Economics. He has lectured at the University of London, specialising in the areas of market structures and firm performance.

How to finance transition to low carbon economy with green finance?
Michael Sheren, Senior Economic Advisor, Bank of England (PRA)

Tuesday 13 June 2017, 3.00-4.00pm, 8W 3.14

Portrait of Michael Sheren

Michael Sheren joined the Prudential Regulation Authority as a Senior Advisor in July of 2013 after thirty years in the financial services industry where he specialised in the structuring, distribution and trading of commercial debt for major global financial institutions.

The first half of Michael's career was spent in New York City where he worked in leveraged finance, commercial real estate and distressed debt. In 1997 he moved to London and focused on structuring and distributing debt for leveraged acquisitions. In addition, he was responsible for commercial real estate finance, shipping, distressed debt, structured products and the financing of SME's in the emerging markets. Michael holds master's degrees from Harvard, the London School of Economics and New York University where he studied finance, economics, philosophy and public policy. Michael also holds a BA from the George Washington University in Political Science and History.