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Thursday, 27 October 2011, 3:15PM
Barnard's Inn Hall

Panel - "Trust Me, I'm a Regulator! Regulation, Governance & Trust"

Philip Cullum, Dr Bill Emery, Alderman Professor Michael Mainelli

Philip Cullum, Bill Emery, with Chairman: Professor Michael Mainelli
What is the point of regulation?
What are the drivers of regulation as a tool for conveying trust?
What role does the regulator play in conveying trust?


Philip joined Ofgem in September 2011 as Partner, Consumer and Demand-side Insight.  He is a member of the government’s Regulatory Policy Committee, which advises the Reducing Regulation cabinet committee; and has advised government on regulation in a range of sectors from financial services to airports.

Philip was previously Deputy Chief Executive of the statutory watchdog Consumer Focus, leading amongst other things its UK policy work, and has had senior roles in two other consumer organisations, the National Consumer Council and Which?. He has also been an Associate Partner at Accenture, responsible for creating new thinking on business trends and corporate strategy, and Executive Director at Opinion Leader Research. He is the 2011 winner of the Guardian/Ashridge Business School essay competition on public service innovation.

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Bill Emery was chief executive of the Office of Rail Regulation from 2005 to 2011.  Dr Emery was previously director of costs and performance and chief engineer at Ofwat, joining in 1990.  Before then he worked for Yorkshire Water.  He is a chartered civil engineer, has an engineering degree, a doctorate in public health engineering and an MBA.

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Alderman Professor Michael Mainelli is Emeritus Mercers' School Memorial Professor of Commerce at Gresham College, having held the chair from 2005 to 2009. His first degree was in Government from Harvard, followed by mathematics and engineering studies at Trinity College Dublin and a PhD from the London School of Economics in chaotic systems, where he was also a Visiting Professor.

Professor Mainelli is Executive Chairman of Z/Yen, the City of London’s leading commercial think-tank and venture firm, which he co-founded in 1994 to promote societal advance through better finance and technology. A qualified accountant (FCCA), securities professional (FCSI), computer specialist (FBCS) and management consultant (FIC), Michael began his career as a research scientist in aerospace (rockets) and computing (architecture & mapping). He later became a senior partner with accountants BDO Binder Hamlyn directing global consulting projects. During the 1990s he worked for the UK Ministry of Defence as Corporate Development Director for Europe’s then largest R&D firm, the Defence Evaluation & Research Agency leading to two privatisations. Career highlights include directing Z/Yen’s Long Finance initiative with Gresham College and the City of London Corporation asking “when would we know our financial system is working?” as well as creating the Global Financial Centres Index, Global Intellectual Property Index, London Accord and Farsight Award. Michael also conceived and produced the first complete digital map of the world in 1983, Mundocart (a 1980’s Google Earth), and the $20 million Geodat consortium cartography project.

Michael is non-executive Director of the United Kingdom Accreditation Service (UK’s national body for standards and laboratories), AIM-listed Sirius Minerals plc (potash mining), AIM-listed Wishbone Gold Plc; Alderman for Broad Street Ward (elected) at the City of London Corporation; Almoner for Christ’s Hospital School; Trustee of International Fund for Animal Welfare. Michael has held numerous advisory posts, for example with Hitachi UK, City University and HM Treasury. Michael won a 1996 UK Foresight Challenge award for the Financial Laboratory, 2003 UK Smart Award for prediction software, 2005 British Computer Society Director of the Year, 2011 Technology Strategy Board Challenge Award for financial avatars, and was awarded Gentiluomo of the Associazione Cavalieri di San Silvestro in 2011. Michael is a Liveryman, Worshipful Company of World Traders, Freeman, Watermen & Lightermen, and represents the Financial Services Group of Livery Companies.

Michael has published over 40 journal articles, 150 commercial articles and four books. Michael’s humorous risk/reward management novel, Clean Business Cuisine: Now and Z/Yen, written with Ian Harris, was a Sunday Times Book of the Week in 2000; Accountancy Age described it as “surprisingly funny considering it is written by a couple of accountants”. Their third co-authored book, The Price of Fish: A New Approach to Wicked Economics and Better Decisions, based on his Gresham lectures, won the 2012 Independent Publisher Book Awards Finance, Investment & Economics Gold Prize. Michael plays bagpipes, loves skiing and sailing and, with his wife, Elisabeth, he races and restores the 1923 Thames Sailing Barge Lady Daphne and sits on the world’s oldest sailing racing body, the Thames Match Committee. With an international family, Michael speaks English, German, French and Italian poorly, but even worse Spanish and Chinese.

To access all of Professor Mainelli's previous Gresham College lectures, please click here.

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