Cyber Risk Strategy Live: What happens if you’re hacked?
Andrew Hill, FT Management Editor debates a strategic dilemma, based on a “live” case in the news, with Elizabeth Corley CBE, Vice Chair, Allianz Global Investors and Dave Palmer, Director of Technology, Darktrace.
Cybersecurity has surged to near the top of the executive agenda in recent years, following well-publicised breaches of companies such as Sony, Yahoo and Talk Talk. The risk touches virtually everyone in the company - from the board, through divisional heads and communications teams, down to individual members of staff, who may inadvertently open the online gate to hackers. It is hard to keep up with the pace of technological change in this area, let alone the evolving nature of the threat.
This workshop-style session of the FT 125 will take a live example of a strategic dilemma caused by a hacking incident, as the starting point for a wider audience discussion about how you can keep your company secure and how you should react if the hackers break through.
Innovation: How technology is reinventing money
Madhumita Murgia, FT European Technology Correspondent with Nick Hungerford, Founder, Nutmeg and Yifat Oron, Chief Executive, LeumiTech.
For decades, financial institutions from banks to insurers operated static, traditional business models that worked perfectly well for them – even if customers such as small businesses and entrepreneurs struggled. Today, they can no longer sit back – disruptive innovators, collectively branded “fintech” are attacking these legacy institutions on all fronts – from payments to lending, funding, currency exchange and wealth management, these digital startups are offering cheaper, quicker and more accessible alternatives to consumers.
Moderated by Madhumita Murgia, FT technology correspondent, the panel will discuss where the next wave of fintech will lead us. Nick Hungerford will offer lessons from his journey founding and building Nutmeg, a successful online money management service, and discuss challenges including competition from big banks who are starting to innovate, and the looming threat of artificial intelligence replacing human wealth managers. Yifat Oron, the chief executive of Israeli company LeumiTech that describes itself as the “bank of startups” will discuss the challenges of supporting tech startups traditionally considered unbankable – and how to work with, not against legacy institutions, to foster innovation.
Inga Beale: Taking risks in the City
Patrick Jenkins, FT Financial Editor in conversation with Inga Beale DBE, CEO, Lloyd’s of London.
Having recently been honoured with a Damehood, Inga Beale is an unusual chief executive. When she was appointed to lead Lloyd’s of London in 2013, she was the first female CEO of the insurer in its 328-year history, as well as its first openly bisexual one. She began her career as an underwriter at Prudential in London in an industry which at the time was staffed mainly by men. After a year off after leaving Prudential, during which she travelled, she worked in the US, France and Germany, most recently at Zurich Insurance Group. At Lloyd’s, Dame Inga, who is half-English and half-Norwegian, has supported LGBT initiatives and helped start the international Insurance Supper Club for leading female executives. In 2015 she took the top spot in the OUTstanding & FT Leading LGBT executive power list.
In conversation with Patrick Jenkins, Dame Inga will discuss the joys and challenges of her career so far, as well as explain the attraction of competitive rugby, which she used to play to near-professional standard.
Leadership: Why addressing unconscious bias will help your business
With Sarah Gordon, FT Business Editor, Iris Bohnet, Author and Professor, Kennedy School of Government at Harvard University, and Sir Roger Carr, Chairman of BAE Systems.
Sarah, introducing the event, noted that while the voluntary target of 25% women on the boards of FTSE 100 companies, set by Lord Davies of Abersoch in his 2011 “Women on Boards” report, was achieved in 2015, progress had “somewhat stalled” since then, with the number of women being recruited to senior corporate positions in the FTSE 100 actually falling last year. It was agreed that this - often the outcome of unconscious bias - was not so much a “women’s issue” as a “business issue” because companies were not properly accessing the talent of half the population. To get change implemented, it was not enough to rely on “diversity training”. Instead, companies were urged to develop, among other things, a pipeline of talent, a method of monitoring (not quotas, but certainly KPIs), and “life-friendly” policies that provide real flexibility.
What lessons can be learned? In conversation with Kweku Adoboli, Ex-UBS Trader
With Patrick Jenkins, FT Financial Editor, and Kweku Adoboli, Ex-Trader, UBS.
In this event, the FT 125 invited Kweku Adoboli, who spent three and a half years in jail after being found guilty of fraud in the wake of one of the biggest trading losses in history - amounting to $2.3bn. The overarching questions were: how did a well-intentioned trader who loved his job and the bank he worked for go so far astray, and what can the wider business community learn from what happened?
Inside view: How to get ahead with Helena Morrissey and Heather McGregor
With Sarah Gordon, FT Business Editor, Helena Morrissey CBE, Chair of the Investment Association, and Professor Heather McGregor CBE, Executive Dean of Edinburgh Business School.
During this event, the two speakers gave some handy tips for career success. One suggestion was that people - men and women - need two types of capital: “human” and “social”. The human capital is “what you know” - as reflected in your CV. The social capital is, in effect, “who you know”. Each is necessary but not sufficient. It was also suggested that women, in particular, should try to be more laser focused about how they go about getting a promotion - and the top job. “One thing I think we don’t do so well,” said one speaker, “is to say ‘what role do I actually want and therefore what specifically do I need to do to get there?’”