Talk from Barclays' CEO of Corporate Banking and Manager of Human Resources
On Wednesday 3rd May, we had an insightful talk from Mr Kevin Wall, CEO of Corporate Banking at Barclays, and Richard Routledge, a Manager of Human Resources also at Barclays.
Over the course of 45 minutes, they covered a range of topics from regulation of the banking industry to quantitative easing and what the impacts of Brexit may be. They transported us into the world of corporate banking, and introduced us to a series of regulations put in place after the 2008 financial crisis to regulate the banking industry. When they mentioned that the Banking Reform Act (2013) cost an average of £1 billion for each bank to implement, the room went silent. Thinking back to the discussions we had in class on the unintended consequences of government intervention, made us wonder whether such legislation would place the burden on consumers instead.
As they took us through the complex policy of quantitative easing, many around us were attentively taking notes, making sure they didn’t miss a point, as Mr Wall and Mr Routledge made clear the difference between helicopter monetary policy and quantitative easing. We were reassured to hear that Barclays will only be moving some jobs to Dublin and many small business owners are more positive about Brexit than those in London. However, Mr Wall and Mr Routledge did warn us that banks are preparing for the worst case scenario.
When they started talking about speculations, many keen traders in our class were excited to hear from the experts on how and where to invest. Later that day, we crowded in the common room and discussed our strategy as we started trading stocks on our trading simulation apps.
Audrey Kwong and Trinity Donohugh (SFC1)