# Clara Furse > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Clara_Furse > Markdown URL: https://mediated.wiki/source/Clara_Furse.md > Source: https://en.wikipedia.org/wiki/Clara_Furse > Source revision: 1341439825 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{short description|British-Dutch businesswoman (1957)}} {{Use British English|date=December 2017}} {{Use dmy dates|date=December 2017}} {{Infobox person | name = Dame Clara Furse | honorific_suffix = [DBE](/source/Order_of_the_British_Empire) | image = | caption = | birth_name = Clara Hedwig Frances Siemens{{cite web|url=https://www.encyclopedia.com/journals/culture-magazines/furse-clara |title=encyclopedia.com Culture magazines |publisher=Encyclopedia.com |accessdate=3 April 2022}} | birth_date = {{Birth date and age|df=y|1957|9|16}} | birth_place = Canada | occupation = Businesswoman | years_active = | spouse = Richard Furse (1981–present) | children = 3{{cite news |last=Inman |first=Phillip |url=https://www.theguardian.com/business/2009/may/22/clara-furse-friday-interview |title=Clara Furse: A stubborn City champion who batted for the Stock Exchange |date=22 May 2009 |work=The Guardian }} | known_for = First female CEO of the [London Stock Exchange](/source/London_Stock_Exchange) }} '''Dame Clara Hedwig Frances Furse''' [DBE](/source/Order_of_the_British_Empire) ({{née|'''Siemens'''}};{{cite web|url=https://www.encyclopedia.com/journals/culture-magazines/furse-clara |title=encyclopedia.com Culture magazines |publisher=Encyclopedia.com |accessdate=3 April 2022}} born 16 September 1957) was the Chief Executive of the [London Stock Exchange](/source/London_Stock_Exchange) between January 2001 and May 2009, and was the first woman to occupy the position. In 2005, she was ranked 19th in ''[Fortune](/source/Fortune_(magazine))'' magazine's most powerful women in business list.{{cite web |url=https://money.cnn.com/magazines/fortune/mostpowerfulwomen/international/ |title=Fortune's Most Powerful Women in Business |publisher=CNN |accessdate=3 February 2014 |archive-url=https://web.archive.org/web/20140220204735/https://money.cnn.com/magazines/fortune/mostpowerfulwomen/international/ |archive-date=20 February 2014 |url-status=dead }} In 2007, Furse was listed among ''[Time](/source/Time_(magazine))''{{'s}} 100 most influential people in the world.{{cite magazine|last=Smith |first=Adam |url=http://www.time.com/time/specials/2007/time100/article/0,28804,1595326_1615737_1615532,00.html |archive-url=https://web.archive.org/web/20070505052513/http://www.time.com/time/specials/2007/time100/article/0,28804,1595326_1615737_1615532,00.html |url-status=dead |archive-date=5 May 2007 |title=Clara Furse – The 2007 Time 100 |magazine=[Time](/source/Time_(magazine)) |date=3 May 2007 |accessdate=3 February 2014}} ==Biography== Furse was born in [Canada](/source/Canada) to [Dutch](/source/Dutch_people) parents, and educated at schools in Colombia, Denmark, and Britain. She graduated from the [London School of Economics](/source/London_School_of_Economics) in 1979 with a [BSc](/source/Bachelor_of_Science) in economics.{{cite web |url=http://lse.ac.uk/collections/pressAndInformationOffice/aboutLSE/worldLeaders.htm |title=Press and Information Office – Press and Information Office – External Relations Division – Services and divisions – Staff and students – Home |publisher=London School of Economics |date=30 January 2014 |accessdate=3 February 2014 |archive-url=https://web.archive.org/web/20090201042835/http://www2.lse.ac.uk/collections/pressAndInformationOffice/aboutLSE/worldLeaders.htm |archive-date=1 February 2009 |url-status=dead }} Clara Furse is the Chair of [HSBC UK](/source/HSBC_Bank_(Europe)).{{cite news| url = https://www.theguardian.com/business/2016/oct/31/clara-furse-to-chair-hsbcs-retail-arm| title = Clara Furse to chair HSBC's retail arm| date= November 1, 2016 | work = Guardian}}{{cite news| url = https://www.independent.co.uk/news/business/comment/hsbc-is-clara-furse-the-right-person-to-chair-its-retail-bank-depends-which-clara-furse-turns-up-in-a7391741.html| title = HSBC: Is Clara Furse the right person to chair its retail bank? Depends which Clara Furse turns up in the boardroom| date= November 1, 2016 | work = Independent}} She is also a non-executive Director [Assicurazioni Generali S.p,A](/source/Assicurazioni_Generali). and a member of the [https://www.efr.be/ European Financial Services Roundtable (EFR)]. In March 2021 she became Chair of the UK Voluntary Carbon Markets Forum, establishing a group that aims to operationalise a global, high integrity market for voluntary carbon credits; an essential component of an accelerated and economically productive transition to net zero. In 2012, she chaired the Lead Expert Group of the UK government's Office for Science Foresight project on The Future of Computer Trading in Financial Markets. She was a member of the Panel of Senior Advisors to [Chatham House](/source/Chatham_House) for 15 years until 2025 and a member of [Bocconi University's](/source/Bocconi_University) International Advisory Council for 8 years until 2022. She was a non-executive Director of [Vodafone](/source/Vodafone) plc. from 2014 to 2023 and of [Amadeus IT Group S.A](/source/Amadeus_IT_Group). from 2010 to 2022. She was an External Member of the [Bank of England](/source/Bank_of_England)'s Financial Policy Committee (FPC); a policymaker on the new statutory body and macroprudential regulator from April 2013 until October 2016. She was a non-executive Director of [Nomura Holdings](/source/Nomura_Holdings) from June 2010 to March 2017. For six years until April 2017, she was on the board of the UK's [Department for Work and Pensions](/source/Department_for_Work_and_Pensions) and latterly its lead independent Director. From January 2001 to May 2009 she was Chief Executive of the [London Stock Exchange](/source/London_Stock_Exchange), a [FTSE 100](/source/FTSE_100) company. During this period she was also a non-executive Director of [Euroclear](/source/Euroclear) plc, [LCH Clearnet](/source/LCH_(clearing_house)) Group Ltd., [Fortis SA](/source/Fortis_(finance)) and a member of the Shanghai International Financial Advisory Council. From 2009 to 2013, she was a non-executive Director of [Legal & General](/source/Legal_%26_General) plc. Prior to joining the Exchange, Furse was Group Chief Executive of Credit Lyonnais Rouse from 1998 to 2000. Before that she spent 15 years at [UBS](/source/UBS). Furse's career has spanned a broad range of global financial markets. She began her career in 1979 as a broker, joining [Phillips & Drew](/source/Phillips_%26_Drew) in 1983. At UBS she became a managing director in 1995 and Global Head of Futures in 1996. During the 1990s she also served as a non-executive Director, committee chair and Deputy Chair of the [London International Financial Futures and Options Exchange](/source/London_International_Financial_Futures_and_Options_Exchange) (LIFFE). ==Damehood== She was appointed [Dame Commander of the Order of the British Empire](/source/Dame_Commander_of_the_Order_of_the_British_Empire) (DBE) in the [2008 Birthday Honours](/source/Birthday_Honours_2008).{{Cite news |url=http://news.bbc.co.uk/2/hi/business/7453959.stm |title=Stock Exchange head becomes dame |date=13 June 2008 |work=BBC News}} ==London Stock Exchange== Furse listed the 200-year-old exchange on its own market in 2001. Very strong growth followed a major technology upgrade to [TradElect](/source/TradElect) and an international focus to its listings business, which prompted a record five unsolicited or hostile bids in under two and half years from late 2004 to early 2007. Deutsche Boerse, Euronext, Macquarie, and Nasdaq (who twice failed to acquire the exchange despite garnering nearly 30% of the stock), launched bids at prices from £5.30 to £12.43. The exchange conducted an unprecedented number of successful bid defences before completing its merger with [Borsa Italiana](/source/Borsa_Italiana) in October 2007, which provided the foundation for a diversification into derivatives, fixed income, clearing and settlement. [TradElect](/source/TradElect){{cite news| url = https://www.proquest.com/docview/236981016| title = London Stock Exchange recoups cost of Tradelect| date= May 27, 2008 | work = ProQuest| id = {{ProQuest|236981016}}}} proved to be decisive in the Exchange’s exponential growth, achieving the best latencies of any major exchange in the world at the time. The Exchange recouped the £40m of investment in under 12 months, driving profit growth of 52% in its first full year (2007/08).{{cite news| url = https://www.lseg.com/content/dam/lseg/en_us/documents/investor-relations/financial-results/preliminary-results/rns/lseg-preliminary-results-2008-rns-22may2008.pdf| title = LONDON STOCK EXCHANGE GROUP PLC Preliminary Results FY2008| date= May 22, 2008 | work = LONDON STOCK EXCHANGE GROUP PLC}} ==Fortis== Furse was a non-executive Director of [Fortis](/source/Fortis_(finance)) when the Belgian bank, in partnership with [Royal Bank of Scotland](/source/Royal_Bank_of_Scotland) and [Santander](/source/Grupo_Santander), purchased ABN Amro in 2008.{{cite web|last=Pratley |first=Nils |url=https://www.theguardian.com/business/nils-pratley-on-finance/2013/mar/26/dame-clara-furse-financial-policy-committee |title=Dame Clara Furse: being bailed out is no bar to serving on FPC | Business |work=The Guardian |date=26 March 2013 |accessdate=3 February 2014}} The acquisition led to the bailout of Fortis which was subsequently sold off in parts to the Belgian and Dutch states and BNP Paribas.{{cite web|url=http://www.financemarkets.co.uk/2008/09/29/fortis-bailed-out-by-three-governments/ |title=Fortis bailed out by three Governments |publisher=Finance Markets |accessdate=3 February 2014}} ==See also== *[Deutsche Börse](/source/Deutsche_B%C3%B6rse) *[Frankfurt Stock Exchange](/source/Frankfurt_Stock_Exchange) ==References== {{Reflist}} *[http://news.bbc.co.uk/1/hi/business/1132332.stm Clara Furse: A profile] from the BBC (January 2001) *[https://web.archive.org/web/20070210170328/http://www.londonstockexchange.com/en-gb/about/Newsroom/Media+Resources/News+Reports/24-01-01.htm London Stock Exchange] Press release announcing Furse's appointment as chief executive. *[http://news.bbc.co.uk/1/hi/business/2770345.stm "UK stock exchange defends its boss"]. BBC News (February 2003) *[http://www.bbc.co.uk/radio4/womanshour/timeline/clara_furse.shtml BBC Radio 4 Woman's Hour – Timeline: Clara Furse] {{authority control}} {{DEFAULTSORT:Furse, Clara}} Category:1957 births Category:Alumni of the London School of Economics Category:British chief executives Category:Living people Category:Dames Commander of the Order of the British Empire Category:Place of birth missing (living people) Category:British people of Dutch descent Category:Canadian people of Dutch descent Category:21st-century English businesswomen Category:21st-century English businesspeople Category:Advisors to Chatham House Category:London Stock Exchange people Category:Directors of Amadeus IT Group --- Adapted from the Wikipedia article [Clara Furse](https://en.wikipedia.org/wiki/Clara_Furse) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Clara_Furse?action=history)). 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