June 22, 2011 2:52 am

Barker adds OBR feather to her cap

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Former monetary policymaker named as non-executive director

Former monetary policy committee member Kate Barker has added another feather to her cap as she is named as a non-executive director of the Office for Budget Responsibility by George Osborne.

Ms Barker, who is a senior adviser to Credit Suisse, is also a director of Electra Private Equity, Taylor Wimpey and the Yorkshire Building Society.

She and Lord Burns – chairman of Channel 4 and Santander UK – join the OBR as the political debate heightens over the government’s economic stewardship.

Meanwhile, amid rising concerns over governance and accountability at the Bank of England, Mr Osborne appointed Deutsche Bank advisory board member Michael Cohrs to the Bank’s Court. Mr Cohrs is already on the Financial Policy Committee that oversees financial stability. Sir Roger Carr, Lady Rice and Harrison Young have been reappointed to the Court while TUC general secretary Brendan Barber saw his term extended by another year.

. . .

Warburg warriors

While the exit of veteran banker Liam Beere from UBS to Moelis has surprised the City, the Swiss bank insists there are still plenty of bankers remaining who had been immersed in the Warburg culture.

Like Mr Beere, stalwarts who joined SG Warburg before it was subsumed by the Swiss bank, include Simon Warshaw, co-head of investment banking, and UK investment banking boss Tim Waddell.

John Woolland is the head of corporate banking, while Hew Glyn Davies and Adrian Haxby are also old Warburg hands. Former Warburg chairman Sir David Scholey who oversaw the sale of the bank to SBC, remains a senior adviser at UBS.

. . .

Rare award

Another Warburg alumnus, Shriti Vadera, has been having a nonstop week jetting around the globe.

The former business minister and life peer flew to Seoul to attend a dinner at the start of the week for key contributors to South Korea’s G20 presidency hosted by the country’s president, Lee Myung-bak.

The president awarded Lady Vadera the prestigious “Medal of Moran”, which is rarely presented to a foreigner. Immediately afterwards, she flew back to London via Beijing for a board dinner for BHP Billiton, where she is a non-executive director, and will be attending the miner’s board meetings on Wednesday and Thursday.

. . .

Turkish delight

Private equity group TPG has named London-based Ramzi Gedeon as one of its three executives promoted as partner. The Beirut-born 38-year-old was behind the private equity group’s sale of Turkish raki maker Mey Içki to Diageo for $2.1bn.

Educated at Cambridge and Yale, he has been at TPG since 2000 and is expected to spend more time in Turkey and the surrounding areas.

. . .

MIke Lawrie, Misys chief

Power Player: Mike Lawrie, Misys chief

It was never meant to be a job for life, and Mike Lawrie, who was parachuted in to Misys in 2006 by ValueAct Capital, the Californian activist fund that owns 20 per cent of the company, has kept to the schedule, writes Maija Palmer.

Since taking over the business, which was left in disarray after the ousting of founder Kevin Lomax, the 58-year-old has been busy combining the company’s healthcare business with US rival Allscripts. He then sold off the healthcare business for $1.3bn last year.

A disposal of the banking business this year would finish off the controlled break-up in line with ValueAct’s five-year plan.

The incentives for ValueAct partner Mr Lawrie, who identified Misys as a turnround target, are high. With the share price above 400p, he is in line to receive £2m worth of share options granted in 2006. His salary and bonuses last year were more than $3m.

After studying history at Ohio University, he spent 27 years at IBM, before a disastrous spell as head of Siebel, where he spent less than a year following disagreements with the founder.

A sale of Misys could mean that the father of two, who divides his time between his home in Connecticut and a London hotel, can return to the US.


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