BusinessCorporate FinanceOn the money with Gavin Hinks

On the money with Gavin Hinks

Philip Broadley, FD at the Pru, has already announced his departure from his FTSE100 post, but he’s also about to give up the chairmanship of the Hundred Group of FDs

Gavin Hinks, AccountancyAge

For policy on a much wider footing, that’s quite an intriguing issue. The
Hundred Group has given Broadley a platform from which he could address
government and regulators ­ a powerful position in finance if ever there was
one.

Disparaged as something of a ‘gentleman’s club’, the Hundred Group has
punched above its weight over the years by pooling the collective talent of some
of the best financial, tax and accounting minds.

The Hundred Group has targeted the convergence of international accounting
standards, audit choice and raised money for a new institute at Oxford
University studying corporate tax.

The group has not so much argued its point as gently nudged ministers in the
right direction. A powerful influence behind closed doors, it has never been the
style of the Group to publicly criticise policymakers. Having said that,
Broadley has not been above the odd public comment when he thought it was
necessary.

But if you take on the job, think about the power. The research abilities and
sheer unadulterated financial expertise of your members alone mean that you
probably have more resources than any other body in the UK to take government to
task on economic and financial policy.

Who could resist that? What’s stopping every FD in the FTSE100 from wanting
the job?
Well, it’s unpaid, for one. And it’s like taking on a second full-time job.
Lastly, the group’s ethos precludes the possibility of singing your own praises

in public.

We eagerly await November for news of who will be the next chairman.

Gavin Hinks is editor of Accountancy Age

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