Thursday 06 June 2024 6:00 am | Updated: Friday 10 January 2025 4:48 pm

Square Mile and Me – The Bank of London CEO Anthony Watson: It’s still revolutionary to be visibly gay in banking

Anthony Watson is the founder and CEO of The Bank of London and an LGBT rights activist

Each week we ask a City figure to take a trip down memory lane. Today, Anthony Watson CBE, CEO of The Bank of London and LGBT rights activist, tells us why the City still has a long way to go to improve LGBT inclusivity

What was your first job?

Phone based technical support for AOL Europe.

What was your first role in tech or finance?

My first fulltime job was with First-e, Europe’s first internet bank, as a technical product engineer and then I went to work at Microsoft.

When did you know you wanted to build a career in tech and finance?

As a technologist by background, I’ve always been fascinated by how technology can enable and drive complex business propositions. Banking, with its critical impact on the economy, presents the ultimate challenge and opportunity for innovation. This complexity and potential for technological advancement drew me to build a career in this sector.

What’s one thing you love about Canada?

I love the energy and innovation of the City. Indeed, don’t listen to the doomsayers; the City is the most important global financial centre – by far! For example; it enjoys just under 40 per cent of the global total of foreign-exchange turnover – significantly larger than the US and the EU combined!

And one thing you would change?

Great Britain and the City deserves a great regulatory regime. The Bank of England’s Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and the Payments Systems Regulator (PSR) will need to continue to evolve to meet the needs of a modern Britain in a modern world. The next government needs to ensure that these institutions operate for the benefit of the country and are held accountable for their decisions.

Why is Pride Month important you?

Pride Month is vitally important because someone tonight is going to bed thinking they are better off dead than being gay!

How far do you think the business world has come in terms of LGBT inclusivity, and what more needs to be done?

Not very far at all. It is still revolutionary for any gay person to choose to be seen and visible in the world of business – and particularly in the world of banking! With LGBT hate crime sharply on the rise in the UK for the first time in a generation, more than a third of LGBT employees hide their sexuality at work. The statistics are even worse at banks and financial services firms!

What’s been your most memorable job interview?

Early in my career, there was this one job interview where I nervously sipped coffee only to realise halfway through it was decaf … and I’m pretty sure the interviewer noticed my energy levels dropping faster than my chances of getting the job!

And any business faux pas?

Oh definitely, I put my foot in it regularly.

What’s been your proudest moment?

Being the first – and only – openly gay person to found and launch a bank in the UK or Europe.

And who do you look up to?

It’s not just one person. Generally, I look up to people with the ability to navigate challenges with resilience. Those who have a dedication to work, combined with their ability to remain humble and empathetic. They serve as a powerful example for me. I don’t always get it right, but these qualities are what I strive to embody in both my professional and personal life.