Role(s) Non-Executive Chairman
Director of Banking Programmes
Phone number +44 (0)118 378 8419
Specialism Bank Governance and Regulation, Asset and Wealth Management
Brian is non-executive Chairman of the ICMA Centre - the business school for financial markets which he created at the University of Reading in 1991 as a new venture. ICMA, which is the trade association and market regulator for the international capital market, initially provided him with start up finance and then, in 1997, made a gift of £3m to the University of Reading to allow the construction of a highly innovative new building on campus (an additional £5m gift from ICMA for the construction of an extension was agreed in 2006).
He trained initially as a finance/ operations manager with Coats Viyella Plc. which at that time was a multinational, FTSE 100 textile company. He later moved to the City of London where, while also teaching at the University of Reading, he was a financial analyst with Kidder Peabody Securities Ltd. before becoming a founder shareholder of Ross and Partners Ltd – a privately owned Eurobond trading house which he helped set up. In 1981, he became finance and operations director of Drexel Burnham Lambert Securities Ltd, Ross & Partners successor in title. In 1986 he moved to Security Pacific Hoare Govett, a UK/US joint venture investment bank as a bond analyst and subsequently became strategy advisor to the Chief Executive. He left Security Pacific in 1990 to return to the University of Reading and set up the ICMA Centre.
His main areas of executive education and research are the functioning of securities exchanges, OTC trading, asset management and private banking, collateralised debt obligations, securitisation of insurance risk, and risk management.
Amongst his extensive consulting activities, he has been a consultant to the chief executive of the London Stock Exchange (LSE) and was on the Market Advisory Panel of Tradepoint Investment Exchange (now virt-x). He was the academic member of the Financial Services Authority (FSA) industry working group on Secondary Bond Market Transparency, which examined issues relevant to the forthcoming EU, Markets in Financial Instruments, Directive (MiFID). He has been a consultant to the US Treasuryand to a central bank and was a monetary policy advisor to a former UK Chancellor of the Exchequer, Lord Howe of Aberavon (Sir Geoffrey Howe) in 1978/9. He has consulted widely for investment banks and asset management houses and most recently advised a major Dubai investment bank on a strategy for growth in its securities trading business. He has also recently advised a major UK life insurer on the use of collateralised debt obligations in asset portfolios. He has been involved in an expert witness case providing input on market functioning and trading.
As well as speaking at many industry conferences and presenting at ICMA and FINRA seminars, he has published “ The New Euromarkets”, “The Eurodollar System” and ” Investment Banking” as well as many papers on trading systems, clearing and settlement, offshoring financial services (published by the Corporation of London in March 2005) the Single European Securities Trading Market and European financial market regulation (chapter in ?Investor Protection in Europe’, OUP, 2006). He is currently working on a sponsored report on wealth management. He co-authored a book on European Securities Market Regulation which was published in 2006. He is a non-executive director of Madiston Plc a start up company set up to acquire, consolidate and develop companies providing software and related services to the securities and banking sector.
Davies, R., Dufour, A. and Scott-Quinn, B. (2003) Building a competitive and efficient European financial market. Report. European Capital Markets Institute, Brussels. pp103.