Clara Furse: Difference between revisions

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Biography: Updated at the request of Dame Clara.
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Furse was born in [[Canada]] to [[Dutch people|Dutch]] parents, and educated at schools in Colombia, Denmark, and Britain. She graduated from the [[London School of Economics]] in 1979 with a [[Bachelor of Science|BSc]] in economics.<ref>{{cite web |url=http://lse.ac.uk/collections/pressAndInformationOffice/aboutLSE/worldLeaders.htm |title=Press and Information Office – Press and Information Office – External Relations Division – Services and divisions – Staff and students – Home |publisher=London School of Economics |date=30 January 2014 |accessdate=3 February 2014 |archive-url=https://web.archive.org/web/20090201042835/http://www2.lse.ac.uk/collections/pressAndInformationOffice/aboutLSE/worldLeaders.htm |archive-date=1 February 2009 |url-status=dead }}</ref>
 
Clara Furse is the chair of [[HSBC Bank (Europe)#UK banking|HSBC UK]].<ref>{{cite news| url = https://www.theguardian.com/business/2016/oct/31/clara-furse-to-chair-hsbcs-retail-arm| title = Clara Furse to chair HSBC's retail arm| date= November 1, 2016 | work = Guardian}}</ref><ref>{{cite news| url = https://www.independent.co.uk/news/business/comment/hsbc-is-clara-furse-the-right-person-to-chair-its-retail-bank-depends-which-clara-furse-turns-up-in-a7391741.html| title = HSBC: Is Clara Furse the right person to chair its retail bank? Depends which Clara Furse turns up in the boardroom| date= November 1, 2016 | work = Independent}}</ref> She is also a non-executive director of [[Vodafone]] and [[AmadeusAssicurazioni ITGenerali|Assicurazioni GroupGenerali S.p,A]]. She is a member of the Panel of Senior Advisors to [[Chatham House]] and of [[Bocconi University]]'s International Advisory Council.
 
In March 2021 she became chair of the UK Voluntary Carbon Markets Forum, establishing a group that aims to operationalise a global, high integrity market for voluntary carbon offsets; an essential component of an accelerated and economically productive transition to net zero. In 2012, she chaired the Lead Expert Group of the UK government's Office for Science Foresight project on theThe futureFuture of computerComputer tradingTrading in financial markets.
 
She was a non-executive Director of [[Amadeus IT Group|Amadeus IT Group S.A]]. from 2010 to 2022. She was an external member of the [[Bank of England]]'s Financial Policy Committee (FPC), a policymaker on the new statutory body and macroprudential regulator from April 2013 until October 2016. She was a non-executive director of [[Nomura Holdings]] from June 2010 to March 2017. For six years until April 2017, she was on the board of the UK's [[Department for Work and Pensions]] and latterly its lead independent director.
 
From January 2001 to May 2009 she was chief executive of the [[London Stock Exchange]], a [[FTSE 100]] company. During this period she was also a non-executive director of [[Euroclear]] plc, [[LCH (clearing house)|LCH Clearnet]] Group Ltd., [[Fortis (finance)|Fortis SA]] and a member of the Shanghai International Financial Advisory Council. From 2009 to 2013, she was a non-executive director of [[Legal & General]].
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==London Stock Exchange==
Furse listed the 200-year-old exchange on its own market in 2001. Very strong growth followed a major technology upgrade to [[TradElect]] and an international focus to its listings business. TradElect eventually provided sub-millisecond trading, whichconsistently setting new records for latency in exchange trading.  Daily electronic trading volumes grew by 82% and profits grew by 52% in 2007, the Exchange announced, allowing it to recoup the full £40m cost of investment in under a year. This rapid growth prompted a record five unsolicited or hostile bids in under two and half years from late 2004 to early 2007. Deutsche Boerse, Euronext, Macquarie, and Nasdaq (who twice failed to acquire the exchangeExchange despite garnering nearly 30% of the stock), launched bids at prices from £5.30 to £12.43. The exchangeExchange conducted an unprecedented number of successful bid defencesdefenses before completing its merger with [[Borsa Italiana]] in October 2007, which provided the foundation for a diversification into derivatives, fixed income, clearing and settlement. UltimatelyIn TradElect proved to be an unstable platform2011, despitethe 4new yearsCEO ofreplaced developmentTradElect atwith aan costeven offaster £40m.trading Itengine was scrapped in 2011developed by theMillennium successorIT CEOin XavierSri Rolet, two years after going live, and replaced by Millenium ExchangeLanka.
 
==Fortis==
Furse was a non-executive director of [[Fortis (finance)|Fortis]] when the Belgian bank, in partnership with [[Royal Bank of Scotland]] and [[Grupo Santander|Santander]], purchased ABN Amro in 2008.<ref>{{cite web|last=Pratley |first=Nils |url=https://www.theguardian.com/business/nils-pratley-on-finance/2013/mar/26/dame-clara-furse-financial-policy-committee |title=Dame Clara Furse: being bailed out is no bar to serving on FPC &#124; Business |work=The Guardian |date=26 March 2013 |accessdate=3 February 2014}}</ref> The acquisition led to the bailout of Fortis which was subsequently sold off in parts to the Belgian and Dutch States and BNP Paribas.<ref>{{cite web|url=http://www.financemarkets.co.uk/2008/09/29/fortis-bailed-out-by-three-governments/ |title=Fortis bailed out by three Governments |publisher=Finance Markets |accessdate=3 February 2014}}</ref>
 
== Other ==
Furse joined the board of directors of [[Amadeus IT Group]] on 29 April 2010.<ref>{{Cite web|url=https://corporate.amadeus.com/documents/es/investors/all-years/corporate-governance/bios-consejeros-esp.pdf|archive-url=https://web.archive.org/web/20191003154729/https://corporate.amadeus.com/documents/es/investors/all-years/corporate-governance/bios-consejeros-esp.pdf|url-status=dead|archive-date=2019-10-03|page=4|title=Biografías de los consejeros de Amadeus IT Group, S.A.|date=July 2019|publisher=[[Amadeus IT Group]]}}</ref>
 
==See also==