{{Short description|British museum director}} {{COI|date=October 2020}} {{Use dmy dates|date=December 2021}} {{Infobox person | name = Clive Bannister | image = 200px|center | caption = Bannister in 2015 | birth_name = Clive Christopher Roger Bannister | birth_date = {{birth date and age|1958|10|28|df=yes}}<ref name="basic_info"/> | birth_place = London, England | alma_mater = Exeter College, Oxford University<ref>{{cite web |last1=Bannister |first1=Clive |title=Remembering Sir Roger Bannister, CH, CBE |url=https://www.exeter.ox.ac.uk/wp-content/uploads/2018/09exon-18.pdf |website=exeter.ox.ac.uk |publisher=Exeter College Oxford |accessdate=24 September 2020 |date=October 2018}}</ref> | occupation = Business Executive | title = Chair Rathbone Brothers plc (May 2021 - present) Chair Beazley plc (April 2023 - present)
Chair Museum of London (2013–present)
CEO Phoenix Group plc (2011–2020) Group Managing Director HSBC Group plc (1994–2010) | spouse = Marjorie Bannister (m. 1992)<ref name="basic_info"/> | parents = Roger Bannister | children = 3 sons }} '''Clive Bannister''' (born 28 October 1958)<ref name="basic_info">{{cite book |author=Who's Who |title=Bannister, Clive Christopher Roger |url=https://www.ukwhoswho.com/view/10.1093/ww/9780199540884.001.0001/ww-9780199540884-e-255760 |website=ukwhoswho.com |publisher=Oxford University Press |accessdate=24 September 2020 |date=March 2020|doi=10.1093/ww/9780199540884.013.U255760 |isbn=978-0-19-954088-4 }}</ref> is the chair of the Museum of London,<ref>{{cite web |last1=Ament |first1=Sharon |title=Our Governors |url=https://www.museumoflondon.org.uk/about-us/our-organisation/our-governors/clive-bannister |website=museumoflondon.org.uk |publisher=Museum of London |accessdate=24 September 2020 |date=October 2013}}</ref> chair of Rathbones<ref name="rathbones">{{cite web |author1=Rathbones |date=12 January 2021 |title=Appointment of Non-executive Chairman |url=https://www.rathbones.com/media-centre/news-and-comment/appointment-non-executive-chairman |access-date=18 January 2021 |website=rathbones.com |publisher=Rathbone Brothers' plc}}</ref> and chair of Beazley. He was formerly an insurance executive (CEO of Phoenix Group plc) and banker (group managing director at HSBC Group plc).<ref>{{cite web |author1=HSBC Group plc |title=HSBC Holdings plc Annual Review 2007 |url=https://www.hsbc.com/-/files/hsbc/investors/investing-in-hsbc/all-reporting/group/2007/hsbc2007ar0.pdf |publisher=HSBC Group |accessdate=24 September 2020 |date=March 2008}}</ref>
==Early life== Bannister is the eldest son of Sir Roger Bannister, an eminent neurologist and middle-distance athlete who ran the first sub four-minute mile<ref>{{cite web |author1=Guinness World Records |title=Roger Bannister: First sub four minute mile |url=https://www.guinnessworldrecords.com/records/halloffame/first-sub-four-minute-mile |website=guinnessworldrecords.com |publisher=Guinness World Records Limited 2020 |accessdate=24 September 2020 |date=March 2016}}</ref> (died 3 March 2018)<ref>{{cite web |author1=Frank Litsky |author2=Bruce Weber |title=Roger Bannister, First Athlete to break the 4 minute mile, dies 88 |url=https://www.nytimes.com/2018/03/04/obituaries/roger-bannister-dead.html |website=The New York Times |accessdate=24 September 2020 |date=4 March 2018}}</ref> and Moyra Jacobsson, an artist.<ref>{{cite web |author1=Nick Mason |author2=Caroline Richmond |title=Sir Roger Bannister Obituary |url=https://www.theguardian.com/sport/2018/mar/04/sir-roger-bannister-obituary |website=theguardian.com |publisher=Guardian News & Media Ltd |accessdate=24 September 2020 |date=4 March 2018}}</ref> He grew up in London and was educated between 1972 and 1975 at University College School<ref>{{cite web |last1=Roberts |first1=Edd |title=Speech Day and Prize Giving |url=https://www.ucs.org.uk/assets/pageturner/user/e7dec722c4eb104bcd424b22fe79e710.pdf |website=ucs.org.uk |publisher=University College School, Frognal, London NW3 |accessdate=24 September 2020 |date=March 2018}}</ref> in Hampstead and then at Oxford University (1977–80), where he studied PPE (Philosophy, Politics and Economics) at Exeter College. At Oxford, he produced a number of theatrical productions.{{citation needed|date=December 2020}}
==Career== Bannister began his career as a banker with First National Bank of Boston<ref name="sourcewatch">{{cite web |author1=Sourcewatch |title=Clive C R Bannister |url=https://sourcewatch.org/index.php/clive_C._R._Bannister#Biographical_Information |website=sourcewatch.org |publisher=Centre for Media and Democracy |accessdate=24 September 2020 |date=25 December 2019}}</ref> (1981–1984) in Boston and London, focusing on specialist debt and equity lending to the cable TV and film business. Subsequently, he joined Booz Allen & Hamilton<ref name="sourcewatch"/> as an associate in 1984. He became a partner in 1990. He focused on a broad range of strategic, financial and operating projects with numerous financial institutions working in Ireland, France, USA, Australia, UK, and Saudi Arabia.
===HSBC Group plc=== In 1994, Bannister joined HSBC Investment Bank as director for strategic planning. In 1996 he moved to New York to be the deputy CEO of HSBC Investment Bank in the US, Canada and Latin America.
Bannister then worked directly with the executive chairman, Sir John Bond, on developing a new strategy for the HSBC Group – entitled Managing for Value<ref>{{cite web |last1=Chung |first1=Choy |title=Managing for Value: A case study on the corporate strategy of HSBC beyond 1997 |url=https://www.core.ac.uk/download/pdf/48534453.pdf |website=core.ac.uk |publisher=The Chinese University of Hong Kong |accessdate=24 September 2020 |date=May 2000}}</ref> in 1998. This strategy introduced the global HSBC brand, risk-adjusted capital measures, group client segmentation and set wealth/insurance priorities. In 1999 Bannister was made CEO of Group Private Banking.<ref>{{cite web |author1=HSBC Holdings plc 2002 Annual Report |title=Board of Directors and Senior Management |url=https://www.hkexnews.hk |website=webb-site.com |publisher=Webb-site Who's Who |accessdate=24 September 2020 |date=April 2002}}</ref> Under his seven-year tenure, it grew into a business with 7,000 employees in 22 locations with US$375bn of assets under management (AUM). This growth was supported by four acquisitions (Republic Bank of New York, Safra Republic Holdings, Credit Commercial de France (CCF) and Bank of Bermuda), as well as the creation of a global Trust business.
In 2006 under the new group chairman Stephen Green (Lord Green of Hurstpierpoint), Bannister was made responsible for HSBC Group Insurance (HGI) and a group managing director<ref>{{cite web |title=Group Directors and Senior Management |url=https://www.hsbc.com/-/files/investors/investing-in-hsbc/all-reporting/group/2007/hsbc2007ar0.pdf |website=www.hsbc.com |publisher=HSBC Holdings plc |accessdate=24 September 2020 |date=20 March 2007}}</ref> and joined the group executive committee. HGI included a wide range of personal lines insurance, a wholesale broker and a reinsurance business, generating premiums of US$8bn across 26 countries.
Bannister was a director on the Ping An Group Board (2006–2010),<ref>{{cite web |last1=Yao |first1=Jun |title=Results of Annual General Meeting |url=https://www.ir.pingan.com/upload/20091230161307103.pdf |website=ir.pingan.com |publisher=Ping An Insurance (Group) Company of China Ltd |accessdate=24 September 2020 |date=3 June 2009}}</ref> representing HSBC's 19.9% shareholding.
===Phoenix Group plc=== thumb|right|140px|Bannister as the Phoenix Group CEO in 2019. Under the chairmanship of Ron Sandler (2009–2011), Bannister was recruited in 2011<ref>{{cite web |last1=Kollewe |first1=Julia |title="Zombie" fund manager Phoenix appoints new chief executive |url=https://www.theguardian.com/business/2011/feb/08/phoenix-zombie-funds-new-ceo |website=theguardian.com |publisher=Guardian News & Media Ltd |accessdate=24 September 2020 |date=8 February 2011}}</ref><ref>{{cite web |last1=Grote |first1=Daniel |title=Clive Bannister replaces Jonathon Moss as Phoenix CEO |url=https://www.citywire.co.uk/new-model-adviser/news/clive-bannister-replaces-jonathon-moss-as-phoenix-chief-exec/a469444 |website=citywire.co.uk |publisher=Citywire Ltd |accessdate=24 September 2020 |date=9 February 2011}}</ref> and charged with the turnaround of the business.
In 2008, the Pearl Group (renamed Phoenix Group in 2010) had acquired Resolution plc for £5bn to create the UK's largest "runoff" (Zombie) life fund consolidator. Due to adverse macroeconomic conditions and excessive short-term bank debt, Phoenix faced significant financial challenges.
Working with three subsequent chairmen, Sir Howard Davies (2012–15), Henry Staunton (2015–18) and Nicholas Lyons (2018–present), Bannister led a financial restructuring, a business repositioning and then a period of acquisition-led growth. Financial stability was achieved by the sale of an annuities book of business to Guardian (2012), the sale of the IGNIS asset management<ref>{{cite web |last1=Oakley |first1=David |title=Standard Life Buys Ignis for €390m |url=https://www.ft.com/contentea07b428-b4ce-11e3-af92-00144feabdc0 |website=ft.com |publisher=The Financial Times |accessdate=24 September 2020 |date=26 March 2014}}</ref> to Standard Life (2014) and a £200m unrated bond issue (2014); which permitted the repayment of short-term bank debt. Between 2011 and 2020 Phoenix's leverage declined from 68% to 27%.
The business moved from being a pure "closed" life company, reinforced by three acquisitions (2016 Axa Wealth's pension & protection business, 2016 Abbey Life, 2020 ReAssure).<ref name="acquisition">{{cite web |last1=Hawkins |first1=Claire |title=Phoenix Group-Board Changes |url=https://www.thephoenixgroup.com/~/media/Files/p/Phoenix-Group-v3/investor%20Relations/bofa-25th-annual-financials-ceo-virtual-conference-2020-presentation.pdf |website=thephoenixgroup.com |publisher=Phoenix Group Holdings plc |accessdate=24 September 2020 |date=22 September 2020}}</ref> It diversified into writing open business through the acquisition of Standard Life Assurance in 2018 and built a bulk purchase annuity capability. Under Bannister's tenure, Phoenix's market capitalisation increased from £1.0bn to £7.0bn; and joined the FTSE 100 in 2018. In 2020 it employs 7500, it has 14 million policyholders with £325bn AUM.<ref name="acquisition"/>
Bannister retired from Phoenix in 2020.<ref>{{cite web |last1=Ralph |first1=Oliver |title=Andy Briggs to replace Clive Bannister as Phoenix Chief |url=https://www.ft.com/content/bc440de8-021b-11ea-67bc-f3fa4e77dd47 |website=ft.com |publisher=The Financial Times Ltd |accessdate=24 September 2020 |date=8 November 2019}}</ref>
===Rathbones=== Bannister is currently chair of Rathbone Group Plc, a FTSE 250 company, having been appointed in April 2021. It is one of the UK's leading private client wealth managers with about £100bn of funds under management or administration following its purchase of Investec in April 2023.
=== Beazley === Bannister was elected to the board of Beazley in February 2023 and appointed to the chair in April 2023. Beazley is a specialist insurance company and is a constituent of the FTSE 100.
=== Museum of London === Bannister is chair of the Museum of London. He was originally appointed to the post by Boris Johnson in 2013 and reappointed for four year terms in 2017 and 2021 by Sadiq Khan. Its 19-strong board is drawn from elected members of the City of London Corporation and nominated members from the Greater London Authority.
==Personal life== Bannister married American-born Marjorie Jean Barfuss<ref name="basic_info"/> (Connecticut) in April 1992 and they have three sons.
==References== {{reflist}}
{{s-start}} {{s-bus}} |- {{s-bef|before=Jonathan Moss}} {{s-ttl|title=CEO of Phoenix Group plc|years=2011–2020}} {{s-aft|after=Andy Briggs}} {{s-end}}
{{authority control}}
{{DEFAULTSORT:Bannister, Clive}} Category:1958 births Category:Living people Category:People educated at University College School Category:Alumni of Exeter College, Oxford Category:Businesspeople from London Category:British chief executives Category:HSBC people Category:Trustees of museums Category:People associated with the Museum of London Category:Phoenix Group