2016 A N N UA L
R E P O RT
CONNECT. COMMUNICATE. INFLUENCE.
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ABOUT US
Michael Roberts
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Managing Director and Global Head, Corporate Banking & Lending, Citi
Companies of all sizes on both sides of the Atlantic will find that their BritishAmerican Business membership will provide invaluable insight into the most important topics of the day, allowing them to succeed in today’s increasingly unpredictable environment.
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Sir John Peace
Chairman, Burberry, Standard Chartered Bank
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BritishAmerican Business plays a key role in advancing a positive global business environment and a constructive dialogue between business and government leaders, and we are proud to be associated with it.
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Douglas Flint
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Group Chairman, HSBC
Peter Grauer
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Co-Patrons
BritishAmerican Business plays a vital role in helping companies take advantage of the evolving opportunities presented by the significant transatlantic marketplace.
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Chairman, Bloomberg L.P.
BritishAmerican Business uses its New York / London axis very effectively to provide real value to companies like ours that have significant interests in both cities.
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The Honorable Matthew Barzun American Ambassador to the Court of St. James’s
Sir Kim Darroch KCMG
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Her Majesty’s Ambassador to the United States
Business associations provide a great forum for building networks and relationships, exchanging ideas and promoting business interests with both governments. BritishAmerican Business is one of our key partners. We thank and commend them for their outstanding contribution in support of US-UK trade and investment.
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C O N N E C T – C O M M U N I C AT E – I N F L U E N C E
Who We Are BritishAmerican Business is a transatlantic business network dedicated to championing our members’ ideas, interests, people and values. Members are a select group of international businesses ranging from large multinationals to small startups and we count on the active participation of some of the world’s most prominent business leaders as our core supporters, thought leaders and influencers.
What We Do We convene networks and work with our members to develop business focused outcomes in both New York and London. We use our networks to strengthen the business relationships that are at the core of success in business and beyond.
Sir Martin Sorrell
Group Chief Executive, WPP PLC and Chairman, BritishAmerican Business International Advisory Board
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BritishAmerican Business has clearly established itself as the pre-eminent transatlantic business organisation, and does a great job of helping companies build their business on both sides of the Atlantic. That’s why, as leader of the Advisory Board, I am committed to supporting the organisation. And since there are more than 100 other Chairmen and CEOs of leading multinational companies on that same board, it would seem I am not alone.
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CHAIRMAN / CEO REPORT We are pleased to report that BritishAmerican Business recorded another year of growth in Fiscal Year 2016, as well as its 15th successive year of operational profitability. We are a network with a purpose and stand for the best of BritishAmerican Business at work to deliver superior business returns in global markets. As a result of strong member support, we were able to continue to sustain high quality programming on both sides of Chris Perry Chairman Board of Directors, President Global Sales Marketing and Client Solutions BritishAmerican Business
the Atlantic during Fiscal Year 2016. With the UK planning to leave the European Union, the role and importance of the UK-US economic relationship and the transatlantic business that underpins our two economies can only increase. We are upbeat and hopeful that the UK and US can align interests even more closely with the involvement of 27 other European nations who make up the European Union, even if that will now be in tripartite fashion. As uncertainty gives way, we know that BritishAmerican Business members will be at work to seize the moment and take the business that underpins bilateral economic relations to the next level. Throughout the year, we delivered a significant number of high-quality events and new initiatives which helped our members build new relationships and strengthen old ones. We further strengthened our influential International Advisory Board and Board of Directors
Jeffries Briginshaw CEO BritishAmerican Business
(listed on pages 8-11). Our programmes include top-level C-suite roundtables for CEO business leaders and government decision-makers to share intelligence and leadership insight and thought leadership events and forums, such as The Women’s Forum – our largest and most successful network on both sides of the Atlantic (some of our top speakers and topics are listed on pages 4-5 and page 18). In keeping with our commitment to delivering high quality content, we have included a small selection of thought leadership pieces from amongst our membership. We cover topics such as the future of cities, talent mobility and an assessment of the significance of Brexit to US-UK relations. With our new website successfully launched, we have improved our communication channels, allowing us to provide a versatile set of platforms across physical and social networks and to publicise our brand message and identity to the broader public, encouraging them to experience our pre-eminent transatlantic membership. This additional visibility is helping us as we redefine and add to the membership value proposition in new and exciting ways.
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Chris Perry Chairman Board of Directors, President Global Sales Marketing and Client Solutions BritishAmerican Business
Jeffries Briginshaw CEO BritishAmerican Business
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
E X E C U T I V E S U M M A RY Membership: 474 Companies
Events: 90
• Including 272 Transatlantic Council Members and 202 Corporate
• Total sponsors of events 40
• 90 New members joined this past year
• Total hosts of events 50
• 1200 Member meetings accounted for this year
• Total attendees 6000
Brand Building Platforms: 131 • Provided marketing/brand-building platforms for more than 300 of our member companies including Network, Membership Directory and speaking/sponsoring/hosting opportunities.
• Total speakers of events 100
• Hosted more than 350 Chairmen, CEOs, thought leaders and decision makers as speakers and guests • Facilitated relationship-building and intelligence-sharing between hundreds of C-Suite executives at exclusive roundtables
T R E AS U R E R’ S R E P O RT BritishAmerican Business reported another year of operational profitability in Fiscal Year 2016, as it has done every year since its establishment in 2001. Membership and sponsorship, supported by increased revenues from our expanded J-1 Visa program, continued to represent the overwhelming majority of revenues; and costs continued to be well controlled. Sean Trotman Treasurer BritishAmerican Business Principal, Deloitte
In 2016/2017, we will continue to serve our members and help to build a sustainable business future for BritishAmerican Business.
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SPEAKER HIGHLIGHTS In FY’16, we hosted more than 200 leading Chairmen and Chief Executives, thought-leaders, industry experts and dignitaries as speakers, including:
Dame Helen Alexander
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Gerry Baker
Chairman, UBM
Editor-in-Chief, Wall Street Journal
Lord Blackwell
H.E. Matthew Barzun
Sarah Baxter
American Ambassador to the Court of St James’s
Deputy Editor, The Sunday Times
Sir Martin Broughton
Dominic Casserley
Michael Cole-Fontayn
Chairman, Lloyds Banking Group
Deputy Chairman, International Airlines Group
President and Deputy CEO, Willis Towers Watson
Chairman EMEA, BNY Mellon
Ian Davis
Bob Dudley
Dan Glaser
Peter Grauer
Chairman, Rolls Royce
Group Chief Executive, BP
President and CEO, Marsh & McLennan Companies
Chairman, Bloomberg L.P.
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
Steve Holliday
Vivian Hunt
Former CEO, National Grid
Managing Partner, UK and Ireland, McKinsey & Company
H.E. David O’Sullivan EU Ambassador to the US
R. H. Lord Livingston of Parkhead
Danny Lopez
Former UK Minister of State for Trade and Investment
Former British Consul General, NY and COO, Blippar
Chris Perry
Lynn Power
President Global Sales, Marketing & Client Solutions, Broadridge Financial Solutions
CEO, J. Walter Thompson New York
Matthew Rycroft
Mark Thompson
Robert Thomson
Dame Fiona Woolf
CEO, The New York Times Company
CEO, News Corp
Former Lord Mayor of London
UK Ambassador to the United Nations
R.H. Lord Maude of Horsham Former UK Minister for Trade and Investment
Richard Solomans CEO, Intercontinental Hotels Group
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M E M B E RS H I P S E RV I C E S Membership in BritishAmerican Business offers companies of all sizes access to a broad range of high-quality, targeted services designed to grow connections, business intelligence, and brand exposure. We also offer companies unique insights and influence in policy issues that affect their people and growth, and sponsor J-1 visas for companies looking to bring talent to the United States on short term assignments. From start-ups to multinational corporations, we design services for specific demographics, from company size, to industry, to individual roles and business verticals. Our advantage is our people: teams in New York and London that meet with hundreds of companies each year to understand their challenges and in response deliver excellent, relevant programming that often directly incorporates members’ expertise. With over 20 industries represented, and executives ranging from Chief Executives through senior management to young professionals, our network reflects the transatlantic commercial community. We offer two levels of membership to meet the respective needs of major multinational and small to mid-sized companies.
• Connect with members at 50-60 high-caliber programs with business thought-leaders; • Attend C-level, exclusive sessions with worldwide chairmen and CEOs; • Request brokered, mutual interest introductions to new clients; • Contribute articles and insights to our digital publication, NETWORK; • Enjoy privileged access to brand-building and marketing opportunities; • Shape our policy work with government; • Access J-1 visa services. Our Corporate level offers small-to-midsized companies a broad range of services to: • Connect with members at 30-35 high-caliber programs with business thought-leaders; • Access brand-building & marketing opportunities; • Promote services and products via member perks; • Access J-1 visa services. For more information, please contact:
Our Transatlantic Council level offers large, global companies opportunities to extend firm-wide benefits to:
London: ukinfo@babinc.org / +44 0 20 7290 9888 New York: nyinfo@babinc.org / +1 212 661 4060
Dan Glaser
President & CEO, Marsh & McLennan Companies
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BritishAmerican Business provides real business value to its member companies. It significantly helps us build high level, productive business relationships with other leading global companies, and learn more about emerging trends and issues that are critical to business.
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C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
POLICY Strength, Stability and Opportunity BritishAmerican Business speaks for companies that represent the most important and integrated economic relationships anywhere in the world. We strive to champion the UK-US economic relationship as a source of strength, stability and opportunity for our members’ global ambitions. Our advocacy work aims to shape policies that have an impact on our members’ operations and help create an open, business-friendly environment.
Brexit In a widely acknowledged survey published in April 2016, 95% of BritishAmerican Business members expressed their wish for the UK to remain part of the European Union (EU). The UK’s vote to leave the EU has created new challenges for our member companies, many of whom have made major investments in the UK. The majority of our membership is deeply integrated within the European Single Market and, consequently, our members continue to be ambitious about their European business plans as they seek to internalise the current policy landscape. Guided by BritishAmerican Business’ Policy Group we advocate our members’ priorities in UK-EU negotiations, and encourage the UK government to take measures domestically that safeguard the UK economy’s attractiveness to business.
Looking Ahead As we look to the year ahead, BritishAmerican Business will continue to develop its policy portfolio. Building on successful engagements this year around Infrastructure, Immigration, Data and Cyber Security we plan to expand our work in these areas, as we delve into spaces, such as FinTech, in response to increasing member demand. We will also assess the outcome of the US election result and report any impact on members’ operations, and help with the coverage of what a new administration means for transatlantic business. In these changing times, on both sides of the Atlantic, our aim is to help our members drive the conversation and have their voices heard.
LEADERSHIP HONORARY PATRONS H.E. Matthew Barzun
Sir Kim Darroch, KCMG
American Ambassador to the Court of St James’s
Her Majesty’s Ambassador to the United States
CHAIRMAN, INTERNATIONAL ADVISORY BOARD Sir Martin Sorrell Group Chief Executive, WPP plc
CHAIRMAN, BOARD OF DIRECTORS Christopher J. Perry
VICE CHAIRMAN Vivian Hunt
VICE CHAIRMAN Robert P. Garrett
President, Global Sales, Marketing and Client Solutions, Broadridge Financial Solutions
Managing Partner, UK and Ireland, McKinsey & Company
New York Office Managing Partner, KPMG
CEO Jeffries Briginshaw
MANAGING DIRECTOR Wendy Mendenhall
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I N T E R N AT I O N A L A D V I S O R Y B O A R D CHAIRMAN Sir Martin Sorrell Group Chief Executive WPP plc Dame Helen Alexander Chairman UBM Johan C. Aurik Managing Partner and Chairman A.T. Kearney Lionel Barber Editor Financial Times Dominic Barton Global Managing Director McKinsey & Co H.E. Matthew Barzun American Ambassador to the Court of St. James’s Honorary Co-Patron of BritishAmerican Business Inga K Beale Chief Executive Officer Lloyd's Zanny Minton Beddoes Editor-in-Chief The Economist Sir Win Bischoff Chairman JP Morgan Securities Robert J. Blanding Chairman & CEO Loomis Sayles & Company Sir Richard Branson Founder & Chairman Virgin Group Sir Martin Broughton Deputy Chairman IAG J. Frank Brown COO General Atlantic Gary Burnison CEO Korn/Ferry International Don Callahan Head of Operations and Technology Citigroup
Bal G. Das Chairman BGD Holdings Lord Davies of Abersoch Chairman Corsair Capital Ian Davis Chairman Rolls-Royce Sarah Diamond General Manager, Global Consulting Services IBM Michael Dobson Group CEO Schroders Frank D’Souza CEO Cognizant Robert Dudley Group Chief Executive BP Erik Engstrom CEO RELX Group Carolyn Fairbairn Director-General CBI John Fallon CEO Pearson Thomas Farley President NYSE Group Douglas Flint Group Chairman HSBC Holdings Simon Freakley Chief Executive Officer AlixPartners Orit Gadiesh Chairman Bain & Co.
Peter Grauer Chairman Bloomberg L.P. Jeffrey W. Greenberg Chairman Aquiline Capital Partners Robert Greifeld CEO The NASDAQ OMX Group Andrew Hamilton President New York University Peter Hancock CEO and President AIG Robin Hayes CEO JetBlue Airways Peter Blair Henry Dean NYU Stern School of Business Remi Hinduja Regional Chairman, Americas Hinduja Group of Companies Gregory Hodkinson Chairman Arup John Holland-Kaye CEO Heathrow Airport Limited Antonio Horta-Osorio Group Chief Executive Lloyds Banking Group Ignacio Jayanti President Corsair Capital Richard Jones Chairman Proxima Group Surya Kant President, North America & Europe Tata Consultancy Services Ian King Chief Executive Officer BAE Systems
Martin Gilbert Chief Executive Aberdeen Asset Management
The Hon Philip Lader Senior Advisor Morgan Stanley International
Dan Glaser President & CEO Marsh & McLennan
Rich Lesser President & CEO The Boston Consulting Group
Richard J. Gnodde Co-Chief Executive Officer Goldman Sachs International
William Lewis Chief Executive Officer Dow Jones
Jeremy Coller Chairman Coller Capital
Michael Golden Vice Chairman New York Times
Sir Andrew Likierman Dean London Business School
Richard Daly President & CEO Broadridge Financial Solutions
Lucian Grainge CBE Chairman & CEO Universal Music Group
Alastair Lukies CBE Chairman Innovate Finance
Dominic Casserley President and Deputy CEO Willis Towers Watson Michael Cole-Fontayn Executive Vice President and Chairman, EMEA BNY Mellon
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Sir Kim Darroch KCMG Her Majesty’s Ambassador to the USA Honorary Co-Patron of BritishAmerican Business
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
Mark Makepeace Chief Executive FTSE Group
Dr Catherine Raines CEO Department for International Trade
Joseph A. Sullivan President & CEO Legg Mason
Sir David Manning GCMG, CVO Non-Executive Director BG Group
Sir Michael Rake Chairman BT Group
Peter D. Sutherland KCMG Chairman Goldman Sachs International
David Mayhew Vice Chairman J.P. Morgan
Ian Read Chairman & CEO Pfizer
Ratan N. Tata Interim Chairman Tata Trusts
Steve McGill Group President Aon
Christopher Rodrigues CBE Chairman VisitBritain
Harold McGraw III Chairman McGraw Hill Financial
Antonia Romeo British Consul-General, New York Director General, Economic & Commercial Affairs USA
Truett Tate CEO and Head of Institutional Relationship Banking, Americas ANZ
Damian McKinney CEO & Founder McKinney Rogers Sir Christopher Meyer KCMG Non-Executive Director The Arbuthnot Banking Group John Micklethwait Editor-in-Chief Bloomberg News Ilian Mihov Dean INSEAD Lakshmi Mittal Chairman & CEO Arcelor Mittal James Murdoch CEO 21st Century Fox Clarke Murphy CEO Russell Reynolds Associates Chris O’Kane CEO Aspen Insurance Holdings Lee Olesky CEO Tradeweb Lord Paul of Marylebone Chairman & Founder Caparo Group Douglas L. Peterson President & CEO McGraw Hill Financial John Pettigrew CEO National Grid Mark Pigott KBE Executive Chairman PACCAR Bob Pittman Chairman & CEO iHeartMedia Professor John A. Quelch CBE Charles Edward Wilson Professor of Business Administration Harvard Business School
Sir John Rose Chairman Hakluyt & Company Jeffrey A. Rosen Deputy Chairman Lazard Wilbur L. Ross, Jr Chairman & CEO WL Ross & Co. Andy Rubin Chairman Pentland Brands Josh Sapan President & CEO AMC Networks Ann Sarnoff President BBC Worldwide North America Stephen Schwarzman Chairman, CEO & Co-Founder The Blackstone Group Jayne Seaford Head of International Subsidiary Banking UK, HSBC Sir Nigel Sheinwald GCMG Non-Executive Director Royal Dutch Shell James Smith President & CEO Thomson Reuters
Dylan Taylor CEO Colliers International Mark Thompson President & CEO The New York Times Company Rex Tillerson Chairman & CEO Exxon Mobil Martin van Roekel CEO BDO International John Veihmeyer Chairman & CEO, Americas KPMG Paul Walsh Chairman Compass Group Charles W.B. Wardell, III President & CEO Witt/Kieffer Mark A. Weinberger Global Chairman & CEO EY Jeffrey Weiner CEO LinkedIn Alexander Wilmot-Sitwell President of EMEA and Emerging Markets ex-Asia Bank of America Merrill Lynch
Richard Solomons CEO InterContinental Hotels Group
Richard Yorke Executive Vice President & Head of International Group Wells Fargo
Dr Ralf Speth CEO Jaguar Land Rover
David Zaslav President & CEO Discovery Communications
Jes Staley Group Chief Executive Barclays Sir Howard Stringer Chairman Saïd Business School Bob Sulentic CEO CBRE
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BOARD OF DIRECTORS CHAIRMAN: Christopher J. Perry President, Global Sales, Marketing and Client Solutions Broadridge Financial Solutions
VICE CHAIRMEN: Vivian Hunt Managing Partner, UK & Ireland McKinsey & Company Robert P. Garrett New York Office Managing Partner KPMG
DIRECTORS: Ceasar N. Anquillare Chairman & CEO Winchester Capital Luis Arriaga Managing Director, (UK, Ireland & Nordics) UPS David Batchelor President, International Division Marsh Eric Benedict Managing Director and UK Market Leader AlixPartners Mike Bolin Managing Director, Global Head Talent Management UBS Lee Bowman Chief Executive Kingstree Group Greg Briggs Partner PwC Jeffries Briginshaw CEO BritishAmerican Business & British-American Business Council Simon Brocklebank-Fowler Managing Partner Cubitt Consulting Limited Peter Brown CBE Chairman & CEO BLJ Worldwide
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Barbara Byrne Vice Chairman, Investment Bank Barclays
Gregory Hodkinson Chairman Arup
Sam Cargill CEO Aon Private Risk Management
Andy Howard Chairman, Americas Arup
Jim Carter Managing Director-Eastern Sales Division American Airlines Roland Chalons-Browne President & CEO Siemens Financial Services Major General Walter Courage CB, MBE Director The Risk Advisory Group David Cox CFO UBM Martin Davidian Managing Director, Sales UK & Ireland Federal Express Europe Inc (FedEX) Nick Dunlop Managing Director – Global Industries Willis Towers Watson Patrick Falconer Managing Director-UK The New York Times Clare Francis Managing Director, Head of Global Corporates Lloyds Banking Group Christopher Fraser OBE Strategic Counsel BNY Mellon Kevin I. Fromer Executive Vice President & Head of Public Policy, North America HSBC Marykay Fuller Partner KPMG Mark S. Garvin Vice Chairman, Corporate & Investment Bank Chairman, Europe JPMorgan Mark Grant CEO Commercial Banking, North America & Regional Manager Lloyds Bank
James S. Hutchinson Chief Administrative Partner & Partner-in-Charge, New York Alston & Bird Michael Inserra Vice Chair and Regional Managing Partner EY Jessica Irschick Global Head of Equities Sales Strategy Bank of America Merrill Lynch Frank Jahangir Vice President Sales, Europe, Middle East and Africa Delta Air Lines Jonathan Jordan Senior Partner Sermelo Limited Sally King Chief Operating Officer Akin Gump Strauss Hauer & Feld Charles Macfarlane Director PharmaVentures Christine Mackey-Ross Central Region Director Witt/Kieffer Chris Magrath Senior Partner Magrath Stephen J.O. Maltby Partner Gibney, Anthony & Flaherty Wendy Mendenhall Managing Director/New York BritishAmerican Business Shaji Nair Vice President, External Relations Shell International Petroleum Charles Penney Senior Partner Addleshaw Goddard
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
Sharon Pierce Managing Director-Northeast Division United Airlines Jennifer Prosek Managing Partner Prosek Partners Clare Reichenbach Founder CJJR Consulting Lynne Rennie Partner Deloitte David W. Rivkin Partner Debevoise & Plimpton Michael Roberts Managing Director & Global Head, Corporate Banking & Lending Citi Daniel Rosenberg Partner Charles Russell Speechlys Chris Rossi Senior Vice President, North America Virgin Atlantic Airways Daniel T. Ryan Partner in Charge - New York Office Regional Managing Partner for the FS Practice in the Americas Heidrick & Struggles Robert Schimek CEO, Commercial AIG Michael A. Schmittlein EVP – Head of Global Banking, EMEA Wells Fargo Jayne Seaford Head of International Subsidiary Banking UK HSBC Jim Singer Partner, Americas A.T. Kearney Margaret (Peggy) M. Smyth Chief Financial Officer, U.S. National Grid Yvonne Smyth Director and Head of Diversity Hays
Paul Stevelman Managing Director, Head of CIB US Corporate & Institutional Banking, RBS The Royal Bank of Scotland Larry Stone President, Group Public & Government Affairs BT Group Sean Trotman Principal Deloitte Tax Matt Tuck Head of Global Corporate Banking Barclays Mark Tweedie UK Corporate Banking Head Citi Daniel Wachtler President and COO root9B Technologies Bridget Walsh Partner, UK&I Head of Private Equity EY Derek Watson Chief Financial Officer Starr Restaurant Group Mark Weil CEO, Marsh UK & Ireland Marsh
Dan Glaser President & CEO Marsh & McLennan Companies Roddy Gow, OBE Chairman Asia Scotland Institute Michael J. Kirkwood CMG Chairman Circle Holdings Kevin Sneader Chairman, Asia McKinsey & Company Ian R. Stopps CBE Chairman Raytheon UK Founder & Chairman The Mclean Partnership Gary von Lehmden Managing Director and Chairman of EMEA Corporate Banking Citi Martin J. Sullivan OBE Director Cooper Gay Swett & Crawford Aidan St. P. Walsh OBE Partner in Charge International KPMG Nicholas C. Walsh Senior Advisor AIG
Rodney Warren Zemmel Managing Partner, Northeast offices McKinsey & Company
EX-OFFICIO Antonia Romeo British Consul-General, New York Director General, Economic & Commercial Affairs USA John Simmons Minister Counselor for Commercial Affairs U.S. Embassy
ADVISORY DIRECTORS Graham A.D. Broyd Senior Advisor Treliant Risk Advisors Irene Dorner
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T R A N S AT L A N T I C M E M B E R S H I P L I S T I N G The membership of BritishAmerican Business comprises hundreds of the world’s leading multinational and middle market companies covering a broad range of sectors, including companies such as:
3M
Barclays
Chevron
A.T. Kearney
BBC Worldwide
Chubb
Aberdeen Asset Management
Beazley Group
Citi
BGD Holdings
City Football Group
BLJ Worldwide
City of London
Bloomberg L.P.
Cognizant
Aggreko
Blue Rubicon
Coller Capital
AIG
BNY Mellon
Colliers International
Akin Gump Strauss Hauer & Feld
Boeing
Corporate Traveller
Boots
Corsair Capital
Boston Consulting Group; The
Cubitt
BP
Cushman & Wakefield
British Airways
Debevoise & Plimpton
Broadridge Financial Solutions
Deloitte.
Brookfield Property Partners
Delta Air Lines
Brunswick Group
Department for International Trade
ACS International Addleshaw Goddard
AlixPartners Alston & Bird AMC Networks American Airlines American Express ANZ Aon Aquiline Capital Partners Arnold & Porter
Bulgari Hotel & Residences London
Deutsche Bank Digital Realty
Burson-Marsteller
DLA Piper
Caterpillar
Dow Jones
CBRE
Edelman
BAE Systems
Certeco
EHS Partners
Baker & McKenzie
Charles Russell Speechlys
Exxon Mobil
Bank of America
Chelsea Football Club
EY
Arup Aspen Insurance Holdings Limited
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BT
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
FedEx
HSBC
Lloyd’s
Fleishman-Hillard
IBM
Lloyds Bank
Ford
Innovate Finance
Lockheed Martin UK
Fragomen Del Rey Bernsen & Loewy
INSEAD
London & Partners
Instinctif Partners
M Moser Associates
Invest Northern Ireland
Magrath
FTSE Russell – London Stock Exchange Group
IPSA International
Major, Lindsey & Africa
General Atlantic
Irwin Mitchell
Marsh & McLennan Companies
Gibney Anthony & Flaherty
J.P. Morgan
Goldman Sachs & Co.
Jaguar Land Rover
JetBlue Airways
Grange Hotels
JobsOhio
Guardian
J. Walter Thompson
Gulfstream Aerospace
Kingstree Group
Gust
Korn Ferry
Morgan Lewis & Bockius
Hakluyt & Company
KPMG
Mountbatten Institute
Hays
Kreston Reeves
NASDAQ
HCA
Langham Place, Fifth Avenue
National Grid
Hearst Corporation
Latham & Watkins
National Theatre
Heathrow
Legg Mason
NBC Universal
Heidrick & Struggles
LexisNexis
New Balance
Herbert Smith Freehills
Linklaters
New York Times Global; The
Hinduja Group of Companies
Links of London
News Corporation
Hogan Lovells
Littler Mendelson
NFL
Frank Group
McAlinden Associates McGuireWoods McKinney Rogers McKinsey & Company Merck & Co Mintz Group; The
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MEMBERSHIP SAMPLE LISTING
Norton Rose Fulbright
Shell
Wells Fargo & Company
NYSE
Siemens Financial Services
Willis Towers Watson
NYU Stern School of Business
Squire Patton Boggs
Winchester Capital
Orrick Herrington & Sutcliffe
Standard Chartered Bank
Withers Bergman
Pentland Brands
Starr Restaurant
Witt/Kieffer
Pfizer
Steelcase Limited
Philip Morris International (PMI)
Sullivan & Cromwell
Pilsbury Winthrop Shaw Portland Communications Prosek Partners Proxima PwC
Tata Consultancy Services TheCityUK Thomson Reuters Tradeweb Turner & Townsend UBM
Raytheon
UBS
Reed Smith
United Airlines
RELX
University of Chicago Booth; The
Risk Advisory Group; The Rolls-Royce Royal Bank of Scotland, The Russell Reynolds Associates S&P Global Santander Schroders Investment Management Shakespeare’s Globe
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(Continued)
University of Edinburgh Business School UPS US Embassy Virgin Atlantic Airways VisitBritain Vodafone Global Enterprise Weber Shandwick WeiserMazars
WL Ross & Co. WPP plc Xerox Corporation XL Catlin Young & Rubicam Group Zerba Technologies
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
HOW AMERICA CAN HELP WITH A SMART BREXIT By Sir Nigel Sheinwald, Ambassador to the United States (2007-2012), Non-Executive Director, Royal Dutch Shell
Providing reassurance in the wake of the UK’s decision to leave the EU, President Obama remar ked that the t wo nation’s special relationship would endure and that the UK – and the EU – would remain ‘indispensable partners’ of the United States. And many business leaders were quick to convey their enduring confidence in the vitality, creativity and pragmatism that have long powered the British and American business that underpins the UK and US economies. There are reasons for business and political leaders in the United States to feel a level of disquiet. As the former US Ambassador to London, Raymond Seitz, stated over twenty years ago, the stronger Britain is in Brussels, the stronger in Washington, Beijing, Delhi and vice versa. The UK’s role has often been to interpret America to a sometimes sceptical Europe, and explain European interests and sensitivities to the more unilateralist American superpower. The truth must be that this attractiveness will now be under threat. Faced with significant uncertainty, the UK may be a less useful and potent ally for the United States. For all its imperfections, the EU remains a global player and the UK will no longer be at the table. Ensuring the UK does not encounter a sapping of influence in the decades ahead will require a demanding mixture of political will, unity and vision. The UK economy has attracted hundreds of billions of dollars of US investment by projecting itself as the gateway to the European single market. Paradoxically perhaps, the UK’s traditional bridging role in transatlantic relations now passes to the United States which should aim to have a beneficial impact on this difficult European transition.
The US should continue to be a candid adviser to the UK. President Obama has already signalled that the US will put its negotiations with the EU ahead of a future deal with the UK and the UK will have to work hard to ensure that its turn comes quickly. The US can also make clear that PM Theresa May’s commitment to a globally responsible UK should be backed up by real actions — more resources for international diplomacy, greater UK attention to current crises in the Middle East and Eastern Europe, maintaining defence and intelligence budgets, matching our trade interest in the Asia/ Pacific with even a modest political and security role. Above all, the US can remind the Government and Prime Minister May government that British foreign policy outside the EU needs to place a premium on collaboration with the EU, the main regional power.
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The special relationship between the two countries will be best served by a UK-EU separation based on long-term rational interest as opposed to internal political pressures.
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There are also important US messages to the EU. With real political and economic interests at stake, the US has every right to ask for an orderly and transparent process and should push the EU to find an innovative way to maintain real-time co-operation between the UK and EU on foreign policy and security. As Henry Kissinger commented after the referendum, the EU should not treat the UK like an escaped prisoner, but as a future partner with shared strategic interests. The special relationship between the two countries will be best served by a UK-EU separation based on long-term rational interest as opposed to internal political pressures. And during this process American leaders should actively engage in the best tradition of transatlantic partnership. ¾
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WHAT MATTERS TO EXECUTIVES ABOUT MOBILITY By Christine Mackey-Ross, Witt/Kieffer Ccentric About the Author Christine Mackey-Ross is a senior partner with the U.S. executive search firm Witt/Kieffer. She is also co-director of Witt/ Kieffer Ccentric, a London-based joint venture between Witt/Kieffer and Australian search firm Ccentric Group.
As the war for talent rages, companies across the globe are looking to recruit the best and brightest for their needs. One issue that influences those efforts is cross-border mobility – or often the lack of it due to work/ travel restrictions or individuals’ concerns about taking employment in a new country or region. Even if offered a plum opportunity with an internationally respected employer, individuals won’t always jump at the chance to work abroad. What issues are there? My firm and its joint venture partner, Ccentric Group of Australia, recently surveyed some 500 executives about their interests and inhibitions in terms of taking international employment. The respondents included those who had worked and lived abroad in the past as well as those who had not, but were considering it.
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Even if offered a plum opportunity with an internationally respected employer, individuals won’t always jump at the chance to work abroad.
It’s not always about the money When executives are looking to relocate, job factors they consider first are “Professional Development,” followed by “Challenging Role” and “Making a Difference.” “Remuneration” was a distant fourth. Family comes to the fore When asked about concerns they had before relocating, executives who have worked abroad cited “Family Considerations” above all else (67%), with “Being Away from Home Country” (38%) and “Cultural Differences” (29%). Factors such as “Social/Political Instability” (9%) and “Threat of Unrest or Terrorism” (8%) lagged behind. Sector matters Our survey polled executives across healthcare, life sciences, and education. “Cultural Differences” ranked as a greater concern in Education (39%) than in Healthcare (23%) and Life Sciences (23%); “Career Development” was a motivating factor for just three-quarters (76%) of Healthcare respondents, lower than in Life Sciences (92%) and Education (86%). Approximately one-third of Healthcare executives were motivated by a “Desire for Change” in their careers (35%), lower than in Life Sciences (46%) and Education (49%) Duration differs
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Some of the key lessons learned from the survey include: Mobility is meaningful. Of the hundreds of leaders who took the survey and had previously lived abroad, every single one said that it was a positive experience. Relocating has gender implications. Men and women have different motivations and abilities to relocate. For instance, only 35% of the women surveyed had relocated, compared with 47% of men; 83% of men feel they would like to relocate compared to 73% of
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women. More than women, men tend to move abroad as a means of moving up the career ladder.
There are vastly different expectations for how long international stints will be. Employer flexibility is in order. For those executives who had relocated, the length of stay was as follows: Less than a year:
7%
1-2 years:
18%
3-5 years:
30%
6-10 years:
19%
More than 10 years:
26%
There are a whole host of issues that play into the recruiting of individuals across borders that go beyond changing jobs, learning a new culture, and the logistics of moving oneself and one’s family. If understood these issues can be addressed and do not need to be deal-breakers in the recruiting of talent on an international scale. ¾
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
VALUE AND RESILIENCE LIE AT THE HEART OF FUTURE CITIES By Gregory Hodkinson, Global Chairman, ARUP
Cities are now the epicentre of our global challenges. They are microcosms of the contradictions that are fuelling the frustrations of voters and leaders alike. On the one hand they are the great sources of wealth generation, employment and social mobility. On the other, they are the centres of inequality, overcrowding and even radicalisation. The success, or failure, of our cities has become increasingly linked to how we will succeed, or fail, as a global society. As a result, one of the key questions for our shared future is how to design urban environments that can support the economic momentum we need to drive productivity and wealth creation while mitigating social and environmental impacts within a more sustainable, resilient city. As cities have learnt to compete for globally mobile talent they have enhanced their cultural offer, public realm and leisure mix. The young have voted with their feet and pursued those offering the greatest lifestyle choices, attracting global employers to the ever greater pool of talented labour. The positive effects of agglomeration policies are clearly visible across the globe. Yet the successes of these policies are creating conditions which risk their very future as globally competitive entities. Lack of affordable housing, pressure on public services and the inability of transport systems to keep up with population growth have made these living environments harder for the young and uncomfortable for older generations. Ultimately, those who can will vote with their feet and move on. The cities that achieve the right balance between economic growth and affordability are likely to be the long term winners.
Sharing ideas for solving many of these challenges lies at the heart of the work Arup does with city leaders and city shapers worldwide, either directly or in partnership with organisations such as the World Economic Forum, the C40 Cities Climate Leadership group or the Rockefeller Foundation. Worldwide, cities are grappling with many of the same problems – connectivity to provide access to jobs, homes, and social amenities; security and safety; and the challenge of affordable housing in fast-growing, successful cities, especially for critical workers such as firefighters, police, and hospital staff.
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The cities that achieve the right balance between economic growth and affordability are likely to be the long term winners.
Arup’s focus has always been on value and resilience – securing more for longer from the investments made in cities, whether it be the cross-city transits costing billions, buildings that facilitate growth, or the small scale insertions of public spaces that transform neighbourhoods. We aim to look at our projects from a city perspective, e.g. viewing a railway as a regeneration tool first, people mover second.
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When we take this approach we create the potential for new and recycled sources of funding in ways that both cope with immediate needs whilst providing resilience for the future. To many post-industrialised nations, this rapid urbanisation is nothing new. To others, it is a live issue. Regardless of the stage of evolution of cities the global phenomena of limited resources, increased population demand and more risk-averse sources of finance mean that value and resilience driven responses will be essential to continued competitiveness and affordability. ¾
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B R I T I S H A M E R I CA N B U S I N E S S 2 016 A N N U A L R E P O R T
THOUGHT LEADERSHIP We hosted more than 200 business, government, and opinion-leaders at exclusive C-Suite roundtables, business briefings, and professional forums covering a broad range of topical business issues such as: • Tech Revolution: How to Manage Rapid Technological Change
• Agents of (Privacy) Shield: What Does the EU-US Privacy Shield Mean for Business?
• The Future of Talent and Leadership
• What Does FinTech Mean for the Future of Cash?
• Tomorrow’s Great Leadership: Why Women Will Lead the Way • Brand Loyalty: Long-Term Relationships in a Short-Term World
• Britain and Europe: The Risks Ahead
• To Brexit or Not to Brexit? The Business of Britain’s EU Referendum
• Open for Business: Automotive in the UK
• Election 2016 and the Economy • Responsible Growth: Business & Economic Incentives for the Rule of Law
• Open for Business: Life Sciences in the UK
• Four Sectors, Many Stories, One Ambition: Leading UK Industries Make the Case for TTIP
• Changing Climate, Changing Business
• Using Big Data to Win Voters & Customers: Lessons from the US Elections
• Driving Innovation in a Legacy Media Company
• The Future of London as a Global Financial Center
• 21st Century Risk: Growth in Uncertain Times • Is the Sovereign Debt Crisis Over?
• New EU Data Laws and Fines: What Does this Mean for your Business?
• Competition and Collaboration in the Face of Global Cyber Threats
• Digital Transformations: The Secrets of Success in the Digital Economy
• Talent Challenges: Millennials, Management, Mobility
• Consumer Trends: Getting Personal, on a Global Scale
• Corporate Trust: A Banker’s Perspective
• The Politics and Operation of Immigration Law in a Year of Change
• The Challenge to Turn Around a Successful Company • Getting on Boards: Putting Women at the Front of Corporate Board Searches
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• Future Cities: Smart, Sustainable, Social
C O N N E C T – C O M M U N I CAT E – I N F L U E N C E
WOMEN’S LEADERSHIP
Since 2011, BritishAmerican Business has held a series of programming that provides all genders with an unparalleled opportunity to expand their networking reach, share best practices, and generate topical discussion. In New York, with the help of Maria Bartiromo, Anchor at Fox Business News, our Women’s Forum was launched at an exclusive breakfast presentation sponsored by Deloitte, United Airlines and National Grid at Thomson Reuters. This has since become a consortium dedicated to driving the conversations around “Diversity & Inclusion”, “Unconscious Biases”, “The Importance of Personal Narrative” and “Engaging Men in Women’s Work”. While in London, with the assistance of Yvonne Smith, Director and Head of Diversity at Hays, our recent Women’s Network Conference addressed topics around “Role Models vs Real Models”, “Personal Branding”, and “Positive Traits of Female Leadership”.
Paralympian and Katie Cusack, Credit Suisse among others. Exclusive event sponsor in New York, YSC and University of Chicago Booth in London, have assisted BAB in generating insightful, timely content, and with our partnership, has welcomed nearly 800 senior executives that span our nearly 30 industry network. In addition to the general briefing programs offered, our Exclusive Roundtable Dinners have also featured intimate discussions on topical diversity conversations among the C-Suite, Senior Executives and Directors of our member organisations.
Recent exclusive speakers include, Irene Dorner, HSBC, Rebecca Blumstein, The Wall Street Journal, Sarah Diamond, IBM, Sally F. King, Akin Gump, Rhonda Seegal of Xerox, Baroness Verma, Heather Melville of RBS, Claire Harvey,
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B R I T I S H A M E R I CA N B U S I N E S S 2 016 A N N U A L R E P O R T
SPONSORS BritishAmerican Business appreciates the engagement of all its member companies, and is pleased to recognise in particular the following companies who have sponsored its programs and activities in FY ‘16:
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Aberdeen Asset Management ACCA ACE Insurance Addleshaw Goddard AIG Alston and Bird American Airlines American Friends of Cecily’s Fund Andaz London Liverpool Street Aon Risk Solutions Arup Ascot Racecourse Ascot Underwriting Limited Aspen Insurance Athenaeum; The Baker & McKenzie Bank of America Merrill Lynch Barclays BBC Worldwide Berkeley Research Group Bilfinger GVA Bloomberg L.P. Boston Consulting Group;The BP British Airways British American Household Staffing British International School of New York Broadridge Financial Solutions BT Burberry Buzzacott Bvlgari Hotel & Residences Capalino + Company Cardew Group CBRE Chadbourne & Parke Citigroup City of London CMS Cameron McKenna Coach Cognizant Colliers Colliers International Corporate Service by Harrods Cubitt Consulting DDC Group; The Debevoise and Plimpton Deloitte Delta Air Lines DLA Piper Dow Jones EMC Corporation EVENTS EY Fairfax County Finsbury
Fitzgerald & Law Fleishman Hillard Fried Frank Technology Gibney Anthony & Flaherty Google Grange Hotel St Paul’s Grosvenor House, A JW Marriott Hotel Hakluyt and Company Hard Rock Café Harrods Corporate Services Haworth Hays Hearst Corporation Heathrow Airport Heidrick and Struggles Herbert Smith Freehills Hiscox HSBC IBM Innovate Finance InterContinental Hotels Group Interel Consulting International New York Times Invest Northern Ireland IPSA International Jaguar Land Rover JetBlue Airways JMI Jones Lang La Salle JPMorgan JSI Logistics Karen Millen King & Spalding International Kingstree Group; The Korn Ferry KPMG La Compagnie LexisNexis Linklaters Links of London Littler Mendelson Liverpool Vision Lloyd’s Lockheed Martin London & Partners London Philharmonic Orchestra London Stock Exchange Group Magrath Manchester United Marsh & McLennan Companies McGraw-Hill McKinsey & Company Mills & Reeve Mintz Group; The Moelis & Company Monitise
Morgan Lewis Mountbatten Institute; The National Grid New York City Football Club New York International School; The News UK Norton Rose Fulbright NYSE Orrick Herrington & Sutcliffe Paul Stuart Pfizer Promontory Financial Group Proxima Radius Reed Smith Reiss Robert Walters Royal Bank of Scotland; The Shakespeare’s Globe Theatre Shearman & Sterling Siemens Smith & Wollensky Squire Patton Boggs Standard & Poor’s Sullivan and Cromwell Syngenta Photography Award; The TASIS Tata Consultancy Services Taylor Made Computer Solutions Texas Wide Open for Business Thomas Pink Thomson Reuters Truphone UBS United Airlines United Way UPS U.S. Chamber of Commerce Institute for Legal Reform Virgin Atlantic Airways Weber Shandwick Weil Gotshal & Manges Wells Fargo Welsh Government Willis Towers Watson Wisconsin Economic Development Witt/Kiefer WPP PLC XL Catlin Young and Rubicam YSC Zurich Insurance
B R I T I S H A M E R I CA N B U S I N E S S 2 016 A N N UA L R E P O R T
Erik Bonino
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Executive Vice President Downstream Technology, Shell UK
BritishAmerican Business is an outstanding business organisation which does a great job of helping its members to make productive business connections and gain useful insights.
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Surya Kant
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President, North America & Europe, Tata Consultancy Services
The range of prestigious global corporations, transatlantic connections and business thought leadership represented at its events marks BritishAmerican Business as a leading global business network. Tata Consultancy Services derives a high level of value from its membership through networking with likeminded organisations and driving further brand awareness.
Steve McGill
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Chairman and CEO, Aon Risk Solutions
BritishAmerican Business has, ever since its establishment in 2001, an exceptional track record of customerfocused innovation in the development and delivery of its services to its members.
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Dominic Barton
Global Managing Director, McKinsey & Company
It’s a pleasure and an honor for me personally, and for McKinsey, to be actively involved with as dynamic and substantive an organisation as BritishAmerican Business.
Sarah Diamond
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General Manager, Global Consulting Services IBM
A world that is increasingly connected and complex places a huge premium on deep, trusted and collaborative relationships. The platform provided by BritishAmerican Business has always mattered, but it matters now more than ever as we all seek to share and access information, and benefit from the collective intelligence of its distinguished members.
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Ian Stopps
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Chairman, Raytheon UK, and Founder & Chairman, The McLean Partnership
Through its active engagement with government, BritishAmerican Business significantly supports key policies of direct benefit to business on both sides of the Atlantic.
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A N N UA L
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