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I second Tim Worstall's proposal that Richard Murphy be the new boss of Barclays

Written by Ashwin Rattan Thursday, 26 July 2012 16:23
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The UK's (nearly) leading independent economics blogger, Tim Worstall has suggested, perhaps facetiously, that Richard Murphy should be the new 'boss of Barclays'.

 

Andrew Neil (noted left wing sympathiser and emerging leader of the Occupy movement) recently tweeted that a pound invested in Barclays in 2005 is now worth about 29 pence, so clearly change is needed. Although to be fair to Barclays' management they've outperformed the sector average for 2005-2012.

 

But I digress.

 

What would Richard Murphy bring to the role?

 

For one thing a commitment to responsible business:

 

To quote from Richard's blog as to what good business looks like:

 

1) Makes clear who it is so people know who they are dealing with

2) Makes clear who runs it

3) Makes clear who owns it

4) Makes clear the rules by which it is managed

5) Puts its accounts on public record if it enjoys limited liability, and does so wherever it is incorporated whether required to by law or not

6) Seeks to comply with all regulation that applies to it

7) Seeks to pay the right amount of tax due on the profits it makes in the place where they are really earned and at the time they really arise

8 ) Seeks to pay a living wage or more to all who work for it

9) Recognises trade union rights

10) Operates a fair pay policy so that the pay differential between highest and lowest paid in the company cannot exceed an agreed ratio that should never exceed twenty

11) Makes fair pension provision for all employees

12) Does not discriminate between employees on the basis of race, nationality, national origin, gender, sexual orientation, age, disability and similar such issues

13) Does not abuse the environment

14) Has a clear code of ethics that it publishes and is seen to uphold

15) Is transparent in its dealings with customers

16) Seeks at all times to minimise risk to those it deals with and takes all steps to ensure they know what those risks are

17) Accepts responsibility for its failings and remedies them

18) Works in partnership with its suppliers and does not abuse them

19) Advertises responsibly

20) Creates and supplies products meeting real human need


And of course Barclays (once upon a time) had strong Quaker connections, as indeed Richard does ...

 

So, why waste time and money on headhunting?

 

Draft Murphy now!

 

Last modified on Thursday, 26 July 2012 18:02

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