Huw van Steenis
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Huw van Steenis | |
|---|---|
_at_Sustainable_Development_Impact_Summit_2021.png) Van Steenis in 2021 | |
| Born | 27 September 1969 |
| Alma mater | Trinity College, Oxford, INSEAD |
| Occupation | Financier |
Huw van Steenis (born 27 September 1969) is a British financier, former securities analyst and vice chair at management consultancy firm Oliver Wyman.
He was formerly senior Adviser to Mark Carney, the former Governor of Bank of England[1] where he led a review on the future of finance. Before that, he held the role of Global Coordinator, Banks and Diversified Financials within the Equity Research Division at investment bank Morgan Stanley.[2] He is noted for his views on the reshaping of the investment industry.[3]
Van Steenis was educated at Trinity College, Oxford where he graduated in Philosophy, Politics and Economics. In 1994 he went to INSEAD Business School where he obtained an MBA.[4]
Career
In 2004, while at Morgan Stanley, he coined the term the "Asset Management Barbell",[5][6][7] "which predicted that the bulk of assets would be invested in low-cost passive or index-hugging products such as ETFs, with a small but significant amount in high margin"[8] and "high alpha products, with intensifying pressure on the middle ground of more conventional asset management"[9][10][11]
In 2012, he coined the term "Balkanisation of Banking Markets",[12] to describe the breakdown in cross-border banking lending, as regulators looked to put up barriers to protect domestic markets and the policy challenge to rebuild a single market in lending within the Eurozone.[13][14][15]
After Morgan Stanley, he was global head of strategy at Schroders, a British multinational asset management company.[16]
On 1 May 2018, Huw was appointed, by Bank of England Governor Mark Carney, to lead a review of the UK's financial system intended "to strengthen the Bank’s agenda, toolkit and capabilities".[17] The Review[18] was published 20 June 2019 alongside the Bank's response to the Governor's Annual Mansion House Speech.[19] Recommendations included updating regulations for digital payments, considering opening up the Bank's balance sheet to new payment firms, a climate stress test for financial institutions and championing low carbon transition disclosures.[20] They also included far greater use of technology by regulators and new policies for financials institutions to use technology to improve their resilience.[21]
After leaving the Bank of England, van Steenis was made adviser to the CEO at UBS,[22] in addition to chairing the bank's sustainable finance committee.[23]
In 2020, van Steenis was appointed co-chair of the World Economic Forum's Global Future Council on Financial Services 2020-21.[24] He has commented favourably on several UK government policy initiatives,[25] including the UK housing scheme Help to Buy[26] with his colleague Charles Goodhart.[27][28]
In 2015, van Steenis joined the Board of English National Opera.[29] In 2020, van Steenis was appointed to the University of Oxford Endowment Investment Committee.[30] In 2023 he was appointed to the Climate Advisory Board of NBIM, the Government Pension Fund of Norway.[31]