SECTOR VOICES
JOHN BENNETT MBE FCSI MASTER OF THE WORSHIPFUL COMPANY OF INTERNATIONAL BANKERS
John was awarded his MBE in 2019 for service to the City of London Corporation, which included serving as most senior Common Councilman from 2014 to 2015, representing the civic City and supporting the Lord Mayor. He has been active in local government since retiring from Deutsche Bank in 2005 after a 35-year career in the financial services sector, culminating in his role as director of compliance and UK money laundering reporting officer (MLRO). He considers his greatest financial
services career achievement (he’s had two careers – the other in politics) to be his negotiation with the Bank of England in the late 1980s to convert a representative office of Saudi American Bank to a full deposit-taking branch of the bank. When John joined the Institute as a
member in 1993, he had already been in the sector for 23 years, having begun his career as a chartered accountant in 1970. Public perception of the sector has evolved, says John, from the 1960s when there were
“professions for university graduates and jobs for others”, to the present-day “recognition that university is not for everyone, but not going to university does not necessarily impede progress”. However, he acknowledges the damage that the global financial crisis of 2007–8 did to public trust in the sector and “that will take a long time to change”. As a former MLRO, John is concerned
that the sector “has yet to get to grips with the ‘know your customer’ requirements”, noting that questions and problems that were raised at a recent money laundering seminar he attended were the same as those in the early 2000s.
Advice for new joiners Try to get as much diverse experience as you can. That may involve frequent changes of job within a firm or to another firm. But it will help you decide which part of the sector you want to stay in: front or back office, sales, marketing, client facing, administration, compliance even!
EMILY MARTEL CFP™ CHARTERED MCSI PRIVATE CLIENT WEALTH MANAGER, BROOKS MACDONALD, AND VICE PRESIDENT OF THE CISI GUERNSEY BRANCH COMMITTEE
financial planning qualifications, and successfully completed the CERTIFIED FINANCIAL PLANNER™ certification in 2021, aged just 29. Emily aims to be the “leading
technical financial planning expert in Guernsey” and will soon be branching out into other fields to augment her knowledge. Her biggest concern about the sector is the lack of young people choosing financial planning as a career, “which could potentially leave future generations without appropriate financial advice”. With millennials now coming into
At the age of 30, Emily is one of the youngest qualified financial planners in Guernsey. In 2014, aged 22, she began the process of achieving her
some wealth, and with an increasing focus on the climate crisis, Emily’s hope is that businesses will put “environmental and social impact at the forefront of their decision-making processes” and recognise the key risk of environmental and social damage in their business risk assessments.
She also hopes to see “more women
taking control of their finances, approaching financial advisers, and investing where appropriate”. She considers the two most
important future skills to be cyber and information security and relationship management, because of the threat posed by the former and the inherent recognition in the latter “that everyone is unique and therefore has unique needs and circumstances”.
View on virtual assets They are risky speculative assets and they only have as much value as the next person is willing to pay for them. This was recently brought into sharp relief by the purchase of Jack Dorsey’s first tweet for US$2.9m and its subsequent auction, which didn’t result in a sale as the highest offer received was US$6,200, representing a 99.8% loss.
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THE REVIEW SEPTEMBER 2022
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