Huge change in the City’s roll of power
A YEAR of financial turmoil has wiped all but a quarter of last year’s 100 most influential people in European financial markets off the current roll of power.
This year’s Financial News FN100 listing, which has the highest rate of turnover in its five-year history, reflects the huge overhaul of top talent the credit crunch has brought.
And of the 10 category winners within last year’s FN100, only two remain as first in class this year – Alan Howard, founder of hedge fund Brevan Howard, and Anshu Jain, co-head of investment banking at Deutsche Bank.
This year’s top 10 is Bill Winters, co-chief executive of investment banking at JP Morgan, Brady Dougan, chief executive of Credit Suisse, Anshu Jain, Deutsche Bank’s co-head of investment banking, Alan Howard, founder of Brevan Howard, Pol Nyrup Rasmussen, member of European Parliament, John Varley, group chief executive of Barclays, Lord Turner, Financial Services Authority chairman, Jonathan Moulds, president Emea, Bank of America Merrill Lynch, Xavier Rolet, chief executive of the London Stock Exchange and Karen Jones, pensions director of Aviva Staff Pension Scheme.
Financial News has this year included financial legislators and watchdogs as one of its 10 categories, because of their increasing power and influence over the market. It expects this change to be controversial.
Some of the biggest names to disappear from last year’s list include Jeremy Isaacs, who is no longer chief executive for Europe and Asia at Lehman Brothers, Philip Yea, the former chief executive of 3i, Dame Clara Furse, the former chief executive of the London Stock Exchange and Johnny Cameron, who stepped down as chief executive of corporate markets at Royal Bank of Scotland.