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The Financial Services Club London

Season 2012-2013

The Financial Services Club was established in 2004 as a private networking club for financial

professionals that focuses on the future of financial services. We meet regularly for debates,

commentary, ideas and discussions and provide a platform for practitioners, regulators and industry

leaders to meet, network and discuss the future of our industry. The Club is based in London, and

also has regular meetings in Edinburgh, Dublin and Vienna. Between our various centres, the

Financial Services Club has a typical audience of fifty or more senior bank and technology executives

attending each meeting. Our recent guests of honour include:

• Peter Ayliffe, CEO, Visa Europe

• Willem Buiter, Chief Economist, Citigroup

• Andrew G Haldane, Executive Director, Financial Stability, Bank of England

• Vince Cable, Shadow Chancellor with the Liberal Democrats

• Lazaro Campos, Chief Executive, SWIFT

• Geraint Anderson, Cityboy

• Elizabeth Corley, Chief Executive, Allianz Global Investors

• Wilco Dado, Head of Global Payments, Royal Bank of Scotland

• Andrew Tyrie, Chairman, Treasury Select Committee

• Sir Win Bischoff, Chairman, Lloyds Banking Group

• Margaret Cole, Managing Director, the Financial Services Authority (FSA)

• Brian Hartzer, Chief Executive Officer for UK Retail Banking, Royal Bank of Scotland

• Adam Lawrence, Chief Executive of the Royal Mint

• Carole Berndt, Head of Global Treasury Solutions, EMEA, Bank of America

• Angela Knight, Chief Executive, the British Bankers' Association

• JP Rangaswami, Chief Scientist, Salesforce.com

• Chris Cummings, Chief Executive, TheCityUK

• Gilbert Lichter, Chief Executive, Euro Banker's Association

• John Sculley, former Chief Executive Officer, Pepsi-Cola and Apple Computers

• Adrian Coles, Director General, the Building Societies Association

as well as colleagues from the media including Andrew Hill who writes the Lex Column for the

Financial Times, Brian Caplen who is Editor of the Banker Magazine and Daniel Thorniley, Senior Vice

President for the Economist Group.

Membership is available at just £500 per year, giving you access to all events in London, as well as

those in Ireland and Eastern Europe.

In addition, we write up meeting proceedings in our web news and blog. The Financial Services Club

has over 12,000 people subscribing to our daily email news service via the website www.fsclub.net,

with a further 1,200 people reading the blog, thefinanser.com, every day.

In the pages that follow, you can see our full meetings for the 2012 - 2013 season.

The Financial Services Club is supported by

The Financial Services Club London

Winter 2012(draft)*

Tuesday, September 25 2012

Alex : 25 years of satirising the City

Charles Peattie and Russell Taylor, creators of the Alex Cartoon series

Tuesday, October 9 2012

Quarterly Dinner: This house believes banks need branches

An Oxford style debate between:

• Anthony Thomson, Chairman, Metro Bank;

• Ian Lloyd, Head of Project Verde, Lloyds Banking Group; and

• Mark Mullen, Chief Executive of First Direct;

• Brett King, Chairman of Movenbank and Author of Branch Today, Gone Tomorrow

Thursday, October 18 2012

The future of money

Andrew Vorsten, Vice President for Technology R&D and Adam Banks, CTO and Head of IT, Visa

Europe

Wednesday, October 24 2012

How to fall foul of the US law

David Bermingham, one of the NatWest Three, and Rowan Bosworth-Davies, an expert on Financial

Crime

Thursday, November 8 2012

The challenges of fraud in the age of the mobile internet

Derek Wylde, Head of Group Fraud, HSBC

Wednesday, November 21 2012

P2P, the place to be – an update on Zopa’s progress

Giles Andrews, CEO, Zopa

* all dates and speaker details are subject to change

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Tuesday, September 25 2012

Alex : 25 years of satirising the City

Charles Peattie and Russell Taylor, creators of the Alex Cartoon series

Alex is a British cartoon strip by Charles Peattie and Russell

Taylor. It first appeared in 1987 and moved to the Daily

Telegraph in 1992. In 2012, Alex celebrates his 25th

birthday

and the Financial Services Club is delighted to host this

birthday party for the City’s funniest pin-striped suit anti-

hero.

Charles Peattie was born in 1958 and studied painting at St

Martin's School of Art. During the early eighties he worked

as a portrait painter, freelance cartoonist and designer of

greetings cards. He also produced (with Mark Warren) the

legendary 'Dick' cartoon in Melody Maker. Charles is a

recovering workaholic who is currently developing various

projects for TV and Tapisodes for the iPhone. He has four

children and lives in London.

Russell Taylor was born in 1960. He read Russian and Philosophy at Oxford University and, after

failing to be recruited by the counter-intelligence services of either Cold War power, drifted into

journalism. He met Charles at a Christmas party in 1986. Charles had a commission for a strip for the

financial pages of the incipient London Daily News. The result was Alex.

Tuesday, October 9 2012

Quarterly Dinner: This house believes banks need branches

An Oxford style debate between:

• Anthony Thomson, Chairman, Metro Bank;

• Ian Lloyd, Head of Project Verde, Lloyds Banking Group; and

• Mark Mullen, Chief Executive of First Direct;

• Brett King, Chairman of Movenbank and Author of Branch Today, Gone Tomorrow

The Economist ran a debate in May 2012: this house believes that bank branches are obsolete. The

debate was led by Brett King who lost (36% of readers agreed versus 64% who did not). However,

the audience in that debate were generic. Bringing the debate much closer to home, we have

gathered four heavyweights to punch their way through the debate and see exactly what is the likely

future for the bank branch. In the supporting corner Anthony Thomson, who has been championing

the opening of branches as the first new retail bank in Britain for a century, is supported by Ian

Lloyd, the man tasked with sorting out how to sell 632 branches of Lloyds Banking Group due to EU

competition rulings. In the opposing corner, Brett King will be joined by Britain’s leading bank

without branches in the form of First Direct’s CEO, Mark Mullen.

The Financial Services Club is supported by

Anthony Thomson

Anthony Thomson is Chairman of Metro Bank

and the Financial Services Forum. He co-

founded Metro Bank with Vernon W. Hill II.

He has spent the past 27 years in financial

services. In 1987, Anthony co-founded City

Financial Marketing, and - as Group CEO - led

it to become the largest specialist FS

communications group in Europe. In 1997 he

sold the group to Publicis before founding the

Financial Services Forum.

Ian Lloyd

Ian has been with Lloyds as a career banker, and ascended through the Retail Bank operations to

lead many process redesign projects across the Group. However, nothing could have prepared him

for the hardest challenge to date: to separate over 630 branches from live operations and sell them

as a new entity to a competitor or other institution. That is what the EU competition rulings

mandated after Lloyds acquired HBOS in 2008, and Ian has led the charge to separate the holdings

under the program called Project Verde.

Brett King

Brett King is a bestselling author and the founder of an exciting new

banking concept (Movenbank.) He acts as a strategic advisor to many of

the world’s leading financial services organizations. He is an

International Judge for the GSMA Global Mobile Awards, the Asian

Banker Retail Excellence Awards and for the Middle East Business

Achievement Awards. His latest book Branch Today, Gone Tomorrow,

is now available on Amazon.

Mark Mullen

Mark Mullen was announced as the new CEO at first direct bank on

1st September 2011, and was previously Regional Head of

Marketing for HSBC Bank Middle East in 2009 and Head of

Marketing for the first direct before that. During Mark Mullen's

previous tenure at first direct he relaunched both the banking and

the branding proposition, and set the path for the bank's acclaimed

move into social media when it became the first to offer an open

forum to customers called Talking Point. The award winning Talking

Point is a live and unedited site where thoughts and views can be

aired, both good and bad, with the aim of creating a more open

dialogue with consumers.

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Thursday, October 18 2012

The future of money

Andrew Vorsten, Vice President for Technology R&D and Adam Banks, CTO and Head of IT, Visa

Europe

Everyone talks about a war on cash and how contactless, mobile, stickers and QR codes are

dramatically changing and reshaping the world of payments. Is it true? Is it happening? Is there

more to come? Visa are leading the charge so they should know, and the heads of R&D and IT will

play out the story of the future of money from both the business and technology viewpoint.

Adam Banks

Adam's role ranges from research & development, architecture &

engineering, and creating solutions for the benefit of the

business. Overall he is responsible for the technical standards and

technology strategy of Visa Europe. Adam has worked in the

payments industry for 16 years, joining Visa in 2000.

Andrew Vorsten

Andrew is VP for Technology R&D with Visa Europe, and has been with Visa since 2005. He was

previously CTO with workthing.com and Peoplebank.

Wednesday, October 24 2012

How to fall foul of the US law

David Bermingham, one of the NatWest Three, and Rowan Bosworth-Davies, an expert on

Financial Crime

Many of us operate happily in our institutions, without any

knowledge of the risks we might face due to financial and

regulatory failings. That came home to rest for a three managers

in NatWest Bank: Giles Darby, David Bermingham and Gary

Mulgrew. These three became notorious as the NatWest Three

when, in 2002, they were indicted on a range of wire fraud

charges by the American law enforcement authorities. After a

high-profile battle in the British courts, they were extradited to

the United States. The result was three years in jail. If you fail to

understand how law enforcement agencies perceive the world

outside your own, you run the risks of falling foul as this case

proved.

In this fascinating evening, David Bermingham will recount his story after an introduction from

Rowan Bosworth-Davies. Rowan is an expert in financial crime, who will outline the actual

draconian powers the US possesses especially their extraterritorial powers.

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Thursday, November 8 2012

The challenges of fraud in the age of the mobile internet

Derek Wylde, Head of Group Fraud, HSBC

You take out your entire family for a nice dinner. The bill comes, you whip out your credit card, take

your last sip of wine and all of a sudden the waiter returns saying, “I’m sorry, your card has been

declined.” This embarrassing scenario could go two ways – if actual fraud was detected as soon as

the waiter swiped the card, you are grateful and your confidence in the card’s financial institution

just skyrocketed. If the card was declined by mistake, your loyalty just shattered and you very well

may move to another institution. Now take it one step beyond and assume that the card could be

copied in any of 1,000 ways through mobile internet access and you can see, from a bank’s

perspective, the issues of the modern world are increasingly challenging. How do you deal with such

scenarios? To find out Derek Wylde, the Head of HSBC’s Global Fraud Group, will provide us with

some insight into their best practices and worst nightmares.

Derek Wylde has extensive experience in financial services having

joined HSBC in 1976. After an early career in retail banking he joined

the card services division of HSBC in the UK in 1995 as Fraud

Prevention Manager and progressed to Head of Fraud Management

when he assumed responsibility for all aspects of plastic card fraud

management - issuing and acquiring - for HSBC in the UK. In 2004 he

took up a new role as Head of Group Fraud Risk where his job is to

determine and co-ordinate anti-fraud strategy, policy and activities

and the use of anti-fraud technology across HSBC Group. He is a

member of MasterCard's Global Fraud Advisory Council. Derek is

married to Tina, has two sons and his interests include gardening

(because he has to) and playing cricket and golf (to escape the

gardening).

Wednesday, November 21 2012

P2P, the place to be – an update on Zopa’s progress

Giles Andrews, CEO, Zopa

Every two years, the Financial Services Club hosts an upate on Zopa’s progress ever since its late

founder, Richard Duvall, presented in 2005 a month before launch. Back then, no-one knew what

Zopa was aoubt but, over the course of seven years, it has not only successded in becoming a core

source of funding exchange in the UK, but has been copied globally. The company is now processing

over £200 million in P2P lending, an amount doubling year on year as the credit crisis forces

consumers and corporates to find new funding sources. In fact, Andy Haldane of the Bank of

England recently stated that companies such as Zopa “are tiny but so, a decade and a half ago, was

Google”, and believes that they will soon offer a serious altentrative to mainstream bank funding.

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This position was further strengthened over the summer when the government pledged £500 million

to be made available to small and medium sized firms through the Business Finance Partnership with

£100 million of the funding designated towards alternative lenders, such as Zopa. So how is Zopa

changing and adapting to the increasing demands on its business and what is its plan for the future?

Giles Andrews will provide the insights.

Giles Andrews

Giles co-founded Zopa, a social

lending website which connects

people who want to borrow money

with people who want to lend it, in

2004. He led 4 fundraisings as CFO,

raising a total of $33m from

European and US investors. UK

Managing Director since July 2007

and CEO since January 2009, Giles

has led the company through a

period of dramatic growth that has

seen it established as a real threat to

the banks.

Prior to Zopa, Giles spent the first ten years of his career in the motor industry pursuing his interest

in all things automotive. This included co-founding Caverdale in 1992, a start-up taken to a £250m

turnover motor retailer and sold in 1997. After an MBA at INSEAD he set up his own consultancy

business whose clients included Tesco and Tesco Personal Finance.