Dame Clara Hedwig Frances FurseDBE (néeSiemens[3]) (born 16 September 1957) was the Chief Executive of the London Stock Exchange between January 2001 and May 2009, and was the first woman to occupy the position. In 2005, she was ranked 19th in Fortune magazine's most powerful women in business list.[4] In 2007, Furse was listed among Time's 100 most influential people in the world.[5]
Furse was born in Canada to Dutch parents, and educated at schools in Colombia, Denmark, and Britain. She graduated from the London School of Economics in 1979 with a BSc in economics.[6]
In March 2021 she became Chair of the UK Voluntary Carbon Markets Forum, establishing a group that aims to operationalise a global, high integrity market for voluntary carbon credits; an essential component of an accelerated and economically productive transition to net zero. In 2012, she chaired the Lead Expert Group of the UK government's Office for Science Foresight project on The Future of Computer Trading in Financial Markets.
She was a non-executive Director of Amadeus IT Group S.A. from 2010 to 2022. She was an External Member of the Bank of England's Financial Policy Committee (FPC), a policymaker on the new statutory body and macroprudential regulator from April 2013 until October 2016. She was a non-executive Director of Nomura Holdings from June 2010 to March 2017. For six years until April 2017, she was on the board of the UK's Department for Work and Pensions and latterly its lead independent Director.
From January 2001 to May 2009 she was Chief Executive of the London Stock Exchange, a FTSE 100 company. During this period she was also a non-executive Director of Euroclear plc, LCH Clearnet Group Ltd., Fortis SA and a member of the Shanghai International Financial Advisory Council. From 2009 to 2013, she was a non-executive Director of Legal & General plc.
Prior to joining the Exchange, Furse was Group Chief Executive of Credit Lyonnais Rouse from 1998 to 2000. Before that she spent 15 years at UBS.
Furse's career has spanned a broad range of global financial markets. She began her career in 1979 as a broker, joining Phillips & Drew in 1983. At UBS she became a Managing Director in 1995 and Global Head of Futures in 1996. During the 1990s she also served as a non-executive Director, committee chair and Deputy Chair of the London International Financial Futures and Options Exchange.
Furse listed the 200-year-old exchange on its own market in 2001. Very strong growth followed a major technology upgrade to Tradelect and an international focus to its listings business. Tradelect eventually provided sub-millisecond trading, consistently setting new records for latency in exchange trading. Daily electronic trading volumes grew by 82% and profits grew by 52% in 2007, the Exchange announced, allowing it to recoup the full £40m cost of investment in under a year. This rapid growth prompted a record five unsolicited or hostile bids in under two and half years from late 2004 to early 2007. Deutsche Boerse, Euronext, Macquarie, and Nasdaq (who twice failed to acquire the Exchange despite garnering nearly 30% of the stock), launched bids at prices from £5.30 to £12.43. The Exchange conducted an unprecedented number of successful bid defenses before completing its merger with Borsa Italiana in October 2007, which provided the foundation for a diversification into derivatives, fixed income, clearing and settlement. In 2011, the new CEO replaced Tradelect with an even faster trading engine developed by Millennium IT in Sri Lanka.
Fortis
Furse was a non-executive Director of Fortis when the Belgian bank, in partnership with Royal Bank of Scotland and Santander, purchased ABN Amro in 2008.[9] The acquisition led to the bailout of Fortis which was subsequently sold off in parts to the Belgian and Dutch states and BNP Paribas.[10]
^"encyclopedia.com Culture magazines". Encyclopedia.com. Retrieved 3 April 2022.
^"Clara Furse: A stubborn City champion who batted for the Stock Exchange". The Guardian. 22 May 2009.
^"encyclopedia.com Culture magazines". Encyclopedia.com. Retrieved 3 April 2022.
^. CNN. Archived from the original on 20 February 2014. Retrieved 3 February 2014.
^Smith, Adam (3 May 2007). . Time. Archived from the original on 5 May 2007. Retrieved 3 February 2014.
^. London School of Economics. 30 January 2014. Archived from the original on 1 February 2009. Retrieved 3 February 2014.
^"Clara Furse to chair HSBC's retail arm". Guardian. 1 November 2016.
^"HSBC: Is Clara Furse the right person to chair its retail bank? Depends which Clara Furse turns up in the boardroom". Independent. 1 November 2016.
^Pratley, Nils (26 March 2013). "Dame Clara Furse: being bailed out is no bar to serving on FPC | Business". The Guardian. Retrieved 3 February 2014.
^"Fortis bailed out by three Governments". Finance Markets. Retrieved 3 February 2014.
Clara Furse: A profile from the BBC (January 2001)
Press release announcing Furse's appointment as chief executive.
"UK stock exchange defends its boss". BBC News (February 2003)
BBC Radio 4 Woman's Hour – Timeline: Clara Furse
December 28, 2022
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Dame Clara Hedwig Frances Furse DBE nee Siemens 3 born 16 September 1957 was the Chief Executive of the London Stock Exchange between January 2001 and May 2009 and was the first woman to occupy the position In 2005 she was ranked 19th in Fortune magazine s most powerful women in business list 4 In 2007 Furse was listed among Time s 100 most influential people in the world 5 Dame Clara FurseDBEBornClara Hedwig Frances Siemens 1 1957 09 16 16 September 1957 age 65 CanadaNationalityBritish DutchOccupationBusinesswomanKnown forFirst female CEO of the London Stock ExchangeSpouseRichard Furse 1981 present Children3 2 Contents 1 Biography 2 Damehood 3 London Stock Exchange 4 Fortis 5 See also 6 ReferencesBiography EditFurse was born in Canada to Dutch parents and educated at schools in Colombia Denmark and Britain She graduated from the London School of Economics in 1979 with a BSc in economics 6 Clara Furse is the Chair of HSBC UK 7 8 She is also a non executive Director of Vodafone plc and Assicurazioni Generali S p A She is a member of the Panel of Senior Advisors to Chatham House and of Bocconi University s International Advisory Council In March 2021 she became Chair of the UK Voluntary Carbon Markets Forum establishing a group that aims to operationalise a global high integrity market for voluntary carbon credits an essential component of an accelerated and economically productive transition to net zero In 2012 she chaired the Lead Expert Group of the UK government s Office for Science Foresight project on The Future of Computer Trading in Financial Markets She was a non executive Director of Amadeus IT Group S A from 2010 to 2022 She was an External Member of the Bank of England s Financial Policy Committee FPC a policymaker on the new statutory body and macroprudential regulator from April 2013 until October 2016 She was a non executive Director of Nomura Holdings from June 2010 to March 2017 For six years until April 2017 she was on the board of the UK s Department for Work and Pensions and latterly its lead independent Director From January 2001 to May 2009 she was Chief Executive of the London Stock Exchange a FTSE 100 company During this period she was also a non executive Director of Euroclear plc LCH Clearnet Group Ltd Fortis SA and a member of the Shanghai International Financial Advisory Council From 2009 to 2013 she was a non executive Director of Legal amp General plc Prior to joining the Exchange Furse was Group Chief Executive of Credit Lyonnais Rouse from 1998 to 2000 Before that she spent 15 years at UBS Furse s career has spanned a broad range of global financial markets She began her career in 1979 as a broker joining Phillips amp Drew in 1983 At UBS she became a Managing Director in 1995 and Global Head of Futures in 1996 During the 1990s she also served as a non executive Director committee chair and Deputy Chair of the London International Financial Futures and Options Exchange Damehood EditShe was appointed Dame Commander of the Order of the British Empire DBE in the 2008 Birthday Honours London Stock Exchange EditFurse listed the 200 year old exchange on its own market in 2001 Very strong growth followed a major technology upgrade to Tradelect and an international focus to its listings business Tradelect eventually provided sub millisecond trading consistently setting new records for latency in exchange trading Daily electronic trading volumes grew by 82 and profits grew by 52 in 2007 the Exchange announced allowing it to recoup the full 40m cost of investment in under a year This rapid growth prompted a record five unsolicited or hostile bids in under two and half years from late 2004 to early 2007 Deutsche Boerse Euronext Macquarie and Nasdaq who twice failed to acquire the Exchange despite garnering nearly 30 of the stock launched bids at prices from 5 30 to 12 43 The Exchange conducted an unprecedented number of successful bid defenses before completing its merger with Borsa Italiana in October 2007 which provided the foundation for a diversification into derivatives fixed income clearing and settlement In 2011 the new CEO replaced Tradelect with an even faster trading engine developed by Millennium IT in Sri Lanka Fortis EditFurse was a non executive Director of Fortis when the Belgian bank in partnership with Royal Bank of Scotland and Santander purchased ABN Amro in 2008 9 The acquisition led to the bailout of Fortis which was subsequently sold off in parts to the Belgian and Dutch states and BNP Paribas 10 See also EditDeutsche Borse Frankfurt Stock ExchangeReferences Edit encyclopedia com Culture magazines Encyclopedia com Retrieved 3 April 2022 Clara Furse A stubborn City champion who batted for the Stock Exchange The Guardian 22 May 2009 encyclopedia com Culture magazines Encyclopedia com Retrieved 3 April 2022 Fortune s Most Powerful Women in Business CNN Archived from the original on 20 February 2014 Retrieved 3 February 2014 Smith Adam 3 May 2007 Clara Furse The 2007 Time 100 Time Archived from the original on 5 May 2007 Retrieved 3 February 2014 Press and Information Office Press and Information Office External Relations Division Services and divisions Staff and students Home London School of Economics 30 January 2014 Archived from the original on 1 February 2009 Retrieved 3 February 2014 Clara Furse to chair HSBC s retail arm Guardian 1 November 2016 HSBC Is Clara Furse the right person to chair its retail bank Depends which Clara Furse turns up in the boardroom Independent 1 November 2016 Pratley Nils 26 March 2013 Dame Clara Furse being bailed out is no bar to serving on FPC Business The Guardian Retrieved 3 February 2014 Fortis bailed out by three Governments Finance Markets Retrieved 3 February 2014 Clara Furse A profile from the BBC January 2001 London Stock Exchange Press release announcing Furse s appointment as chief executive UK stock exchange defends its boss BBC News February 2003 BBC Radio 4 Woman s Hour Timeline Clara Furse Retrieved from https en wikipedia org w index php title Clara Furse amp oldid 1118138885, wikipedia, wiki, book, books, library,
