The future of banking and the role of challenger banks

The future of banking and the role of challenger banks

Monday, 24 October 2016 - 5:00pm
Venue: 
Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Speaker(s): 
Cyrus Ardalan (OakNorth Bank)
Chair: 
Alexa Zeitz (St Antony’s College, Oxford)
Convenor: 
Adam Bennett (St Antony’s College, Oxford); David Vines (Balliol College, Oxford)
Series: 
Political Economy of Financial Markets (PEFM)

Abstract
In the past few years there has been rapid growth in new banks, often referred to as challenger banks, in the UK.  At the same time technology and regulatory changes in recent years have had a significant impact on the viability of the incumbent banks challenging their current business models. Along side these trends non-banking activities have also been expanding rapidly. This seminar explores these developments and their potential implications for the future structure of banking in the UK.

Cyrus Ardalan, former Barclays Vice Chairman, is the new Independent Chairman at OakNorth Bank.
Cyrus led Barclays’ engagement with key government stakeholders and its development of regulatory and public policy positioning from 2011 to June 2015. Prior to this, he spent 12 years as Vice Chairman – Investment Banking. He has over four decades’ experience in banking, also leading teams at Paribas, Chemical Bank, and The World Bank. He chaired the Boards of the International Capital Markets Association, the British Banking Association Strategy Group and currently is a Board member of the International Financing Facility for Immunisation (IFFIm), a multi-lateral development agency.