|Dambisa Moyo, SAB Miller|
Alison Carnwath and Dambisa Moyo, the two women non-execs at Barclays will, (with the rest of the Barclays board), be subject to intense scrutiny over the next few months as the SFO investigates the possibility of criminal prosecution of bank staff for fixing LIBOR rates. The roles that Alison and Dambisa have played on the Barclays board will become clearer as these investigations unfold but what is certain is that they are no strangers to controversy and have both been known to contentiously rattle cages.
|Alison Carnwarth, Barclays|
Alison Carnwath, (aged 59), has been one of the van-guard of women non-executive directors. Following education at a Welsh boarding school and Reading University and qualification in the 1970s as an accountant, she was an investment banker rising to the executive board at both Henry Schroder Wagg and Donaldson, Lufkin & Jenrette in New York where she was Managing Director. Since the early 1990s, she has built a portfolio career serving on 15 different boards, and in addition to Barclays, is currently a non-exec director at Man, Zurich Insurance and PACCAR and chair of the board at Land Securities and ISIS Equity Partners.
She was named by The Times as one of the 100 most influential directors in the UK and yet it has been claimed that “a large party of the City club just don’t like her” (The Guardian May 2012). She was for example lambasted by the trade press for what they described as a “graceless” speech to the outgoing CEO at Land Securities because she acknowledged that she had not got on with him personally. (The Evening Standard Apr 2012)
|Alison Carnwath, Land Securities|
However, subsequent coverage in the Wall Street Journal, suggested that Carnwath had actually strongly opposed the bonus and it had been forced through by Chairman Marcus Agius who had demanded that the board support the award unanimously. Her performance at the shareholder meeting, some now claim, reflected her thorough lack of support for Diamond's bonus. Indeed, some who have served with her on other boards claim that she “is no pushover on pay” and takes a much harder line than most board members, (The Guardian May 2012). Some Barclays shareholders have now demanded that the split between Carnwath and Agius be officially revealed.
|Dambisa Moyo, Barclays|
Dambisa's first book, "Dead Aid", challenged the effectiveness of long term AID programmes from the World Bank and the governments of the developed world claiming that they have actually undermined Africa's growth. Although a best-seller, it was subject to savage criticism from the renown economist Jeffrey Sachs that sparked an acrimonious dispute between the two on their respective blog postings in the Huffington Post. Her second work "How the West Was Lost" which attacks the "economic and social complacency of the west" received many positive reviews but was slated by The Economist (Jan 2011) and The Financial Times for its controversial arguments.
|Dambisa Moyo (Damabisa Moyo.com)|