NETWORK NEW YORK / LONDON
A new role for the private sector in fighting climate change Business and Natural Capital
Lockheed Martin – Two Decades of Ethical Progress DECEM BER 2 016
HOW DO YOU TRANSITION FROM GOOD TO GREAT ? JIM COLLINS LIVE IN LONDON Lead your business to greatness
Jim Collins, business strategist, leadership thinker, and best-selling author of Built to Last, Good to Great, How the Mighty Fall and Great by Choice will present a powerful half-day seminar on what it takes to build an enduring great company. In this session, Collins will bring together over 25 years of research which asks the simple question: Why do some companies thrive in uncertainty and others do not? Collins will take you through the behaviours and characteristics of companies and leadership teams that achieve spectacular results, especially when direct comparisons – companies operating in the same fastmoving, unpredictable, and tumultuous environments – do not. The program will draw upon a highly effective framework developed by Collins that will serve as a mechanism of disciplined thought and action for you and your team to lead your business to greatness! Don’t miss this rare opportunity to see Jim Collins in his first live solo presentation in London.
REGISTER TODAY SPECIAL RATES FOR BRITISH AMERICAN BUSINESS MEMBERS VISIT: thegrowthfaculty.co.uk/bab
+ 44 (0)207 808 5647
Books by Jim Collins GOOD TO GREAT GREAT BY CHOICE HOW THE MIGHTY FALL BUILT TO LAST
— First live solo event in the UK —
LONDON 28 FEBRUARY 2017
Contents
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60 Seconds with Ann Cormack
Tax Reform Under President Trump?
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2 Welcome from our CEO
New IAB and Board Members
3 Meet The New Members 5 60 Seconds with Ann Cormack, Director – International, Rolls-Royce
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Two Decades of Ethical Progress
Women’s Network Annual Conference
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Events
11 Trump’s Impact On Whistleblower Laws 12 Potential US Tax Reform Under President Trump 13 Transatlantic relationships post Brexit and Trump
16 Women’s Conference 17 London Event Highlights: Gala Dinner; Speaker’s House Reception; Ian Davis CEO Roundtable; Thanksgiving Reception
Insight
6 Two Decades of Ethical Progress; Building and Sustaining Stakeholder Trust
14 How is global uncertainty affecting the compliance industry? Developing a Cyber Strategy 15 A school for the whole family Politics takes centre stage over economic data
10 US Election: A new role for the private sector in fighting climate change?
Transatlantic Business Awards Dinner NY
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Features
Cover Stories 9 Business and Natural Capital
What BAB Members are Saying
18 2016 Transatlantic Business Awards Dinner – 13 October 19 New York Event Highlights: Leadership Forum with Abigail Posner; Ambassadorial Briefing with Matthew Barzun; Ambassadorial Roundtable with Sir Kim Darroch; EACC Women’s Forum with Sally Susman 21 Events Calendar: London and New York
Office Address
London Staff
BritishAmerican Business
Jeffries Briginshaw CEO, BritishAmerican Business jbriginshaw@babinc.org
Jillian Gable Forums Manager jgable@babinc.org
Emanuel Adam Director, Policy and Trade eadam@babinc.org
Tim Horan Communications Manager thoran@babinc.org
John Adam Office Manager, Accountant jadam@babinc.org
Sabina Hussain Events Manager shussain@babinc.org
“BritishAmerican Business”
Sherry Dolatshahi Executive Assistant to CEO sdolatshahi@babinc.org
Brooke Lawrence Events Manager eventandmarketingmanager@babinc.org
BritishAmericanBusinessLondon
Kelly Edwards-Smith Marketing and Communications Manager communications@babinc.org
Lindsay Walker Member Relations Manager lwalker@babinc.org
London 12 Phillimore Walk West Wing, 2nd Floor London W8 7RX Tel: +44 (0)20 7290 9888 ukinfo@babinc.org New York 52 Vanderbilt Avenue, 20th Floor New York, NY 10017 Tel: +1 (212) 661 4060 nyinfo@babinc.org Editor Tim Horan
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Get Social @BABLondon
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CEO I BritishAmerican Business
Welcome
Jeffries Briginshaw I jbriginshaw@babinc.org
During a speech to the London School of Economics in 2012, former US President Bill Clinton said that “saving the planet is better economics than burning it up.” Clinton’s statement, while by no means revolutionary, does serve as an important reminder that there is a business imperative underpinning sustainability efforts. As business continues to respond to consumer led demand for more sustainable environmental practices, managing impacts not just on our environment, but much more broadly, we will continue to see opportunities for companies willing to challenge traditional thinking. Doing the right thing is often at the root of doing good business for the long term. At the time of writing 117 countries have ratified the Paris Agreement, an historic agreement aimed at reducing the impact of climate change and ensuring nations increase their individual ability to deal with adverse climate events. Businesses in the United States, and across the World, will now focus their attention on President-elect Donald Trump as he prepares to take office. Trump, who previously claimed he would withdraw the United States from the Agreement, has modified his campaign rhetoric by stating he has an ‘open mind’ on the Agreement. On this side of the Atlantic, 2017 promises to be one of seismic change based on the UK’s decision to leave the EU and environmental legislation will come under the microscope. Those in the business community will continue to closely monitor the future of our own environmental laws, so heavily intertwined with European Union legislation, to gauge the impact on their own sustainability ambitions.
In this edition of Network we feature articles from Lockheed Martin who discuss their sustainability and ethics programme and EY who discuss the business’ relationship with natural capital. Also in this edition we spend 60 seconds with Ann Cormack, Director – International at Rolls-Royce who talks to us about her career path and begin to dissect the potential impact of a Trump presidency on areas of US domestic policy including taxation and whistle blower laws. I’m happy to report that last week we welcomed more than 300 guests to the beautiful Dorchester Hotel for our Dickensian themed Christmas Luncheon. As always this was a fantastic event and we were delighted that Larry Stone, President Group Public & Government Affairs at BT Group could address the guests and remind us that, in light of events in 2016, Christmas means Christmas. The Christmas Luncheon concluded our busy 2016 events calendar, but planning is already well underway for more events next year. Our 2017 program will commence on 10 January as we hold a Pre‑Inauguration Breakfast Briefing with the United States Deputy Chief of Mission, Lewis Lukens. I would also like to thank Mairi Maclennan who leaves us at the end of this month to pursue new opportunities. Many of you would have spoken to Mairi in her role as Public Affairs and Policy Manager and on behalf of BAB we wish her all the best in her future endeavours. Lastly I would like to take this opportunity to wish everyone a very merry Christmas and a safe and happy New Year. We look forward to working with you and your business in 2017.
New Board and IAB Members BritishAmerican Business (BAB) is governed by a transatlantic Board of Directors, led by our Chairman Christopher Perry, President Global Sales, Marketing & Client Solutions, Broadridge Financial Solutions. The Board’s active support and commitment to BAB and its objectives are important to ensuring our continued success as an organisation. We also enjoy strong support from our International Advisory Board, consisting of Chairmen and CEOs from more than 100 major multinational companies. We are delighted to announce that the following new members have recently joined our Board of Directors and International Advisory Board.
NEW BOARD MEMBERS
NEW INTERNATIONAL ADVISORY BOARD MEMBERS
Jayne Seaford Head of International Subsidiary Banking, UK HSBC Bank plc
David Zaslav President & CEO Discovery Communications
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New Members
www.blickrothenberg.com Blick Rothenberg is a market leading accounting, tax and advisory practice specialising in helping overseas companies establish a presence in the UK. Our multi-lingual teams offer a comprehensive service from early stage set-up to large scale expansion, taking time to understand your immediate and future needs. Nilesh Shah, Partner nilesh.shah@blickrothenberg.com 16 Great Queen Street, London WC2B 5AH, UK +44 (0)20 7486 0111
www.cliffordchance.com We are one of the world’s pre-eminent law firms, with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegial and team-based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not-for-profit organisations. We provide them with the highest-quality advice and legal insight, which combines the Firm’s global standards with in-depth local expertise. Laura King, Partner laura.king@cliffordchance.com 10 Upper Bank St, Canary Wharf, London, E14 5JJ, UK +44 (0)20 7006 1000
www.iccwbo.uk The International Chamber of Commerce (ICC) is the world’s largest business organisation with a network of over 6.5 million members in more than 130 countries. ICC’s three central functions are promoting open cross border trade investment, providing the rules and standards that govern international business, and providing world class dispute resolution services. Chris Southworth, Secretary General csouthworth@iccwbo.uk 1st floor, 1-3 Staple Inn, London, WC1V 7QH +44 (0)20 7838 9363
www.northernstar.co.uk Northern Star provides IT support, management, consultancy and project implementation to businesses in the London, New York, Europe, USA, Asia and beyond. Our account management methodology means our clients can do more and worry less. We make it our business to understand our customers and because we’ve been around for over 15 years we have a lot of happy clients. Fraser Bell, CFO fbell@northernstar.co.uk Korus House, 6-8 Colne Road, Twickenham, TW1 4JR +44 (0) 800 319 6032
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New Members
www.wembleystadium.com At Club Wembley we offer one-off VIP hospitality packages and Private boxes for some of the biggest events of the year; including the NFL International Series, Music Concerts, Rugby, Football Playoffs and more. The Hospitality is designed to offer something to suit everyone, from luxurious corporate entertaining to memorable employee rewards or simply a great day out with family and friends. Harry Thorne, Senior Sales Account Manager harry.thorne@wembleystadium.com Wembley Stadium, Wembley, London, HA9 0WS 0800 169 2007
www.buzzacott.co.uk Buzzacott’s 50-stong Expatriate Tax Services team of dualqualified US and UK tax advisors can guide you in making decisions that work in both the short- and long-term, while avoiding pitfalls and unexpected consequences. With our additional presence in Hong Kong, our team assist individuals living in Asia to navigate through the everincreasing US and UK regulatory tax requirements, ensuring that tax planning opportunities are maximised and wealth protected. Sophie Ryden, Senior Marketing Executive rydens@buzzacott.co.uk 130 Wood Lane, London, EC2V 6DL +44 (0)20 7556 1200
www.zebra.com With the unparalleled visibility Zebra Technologies provides, enterprises become as smart and connected as the world we live in. Real-time information – gleaned from Zebra’s visionary solutions including hardware, software and services – gives organizations the competitive edge they need to simplify operations, know more about their businesses and customers, and empower their mobile workers to succeed in today’s data-centric world. Kevin Richardson, External Consultant krichardson@heartlandsolutionsgroup.com 475 Half Day Road, Suite 500 Lincolnshire, IL Illinois 60069 US +1 847 634 6700
www.liverpoolvision.co.uk Liverpool Vision is the city’s economic development company which integrates economic development and business and enterprise support designed to accelerate the city’s growth and build a sustainable economy. We have played a pivotal role in co-ordinating the delivery of the city’s economic and physical renaissance over the last decade, working within the strategic leadership of the City Council and the Mayor of Liverpool. Chris Heyes cheyes@liverpoolvision.co.uk 10th Floor, The Capital, 39 Old Hall Street, Liverpool L3 9PP 0151 600 2900
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Feature
60 Seconds with... INTERVIEW
Previously Managing Director for Energy at Xyntéo, Ann joined RollsRoyce in August 2013 where she is responsible for the International team and Global Government Relations. Ann spent the first 20 years of her career working for Shell International, holding various executive positions, latterly running Shell’s global internal consultancy B2B team and the European Fleet Fuel Cards business. Ann then managed change across government from the Department for Trade and Industry, as Managing Director in the UK’s Small Business Service. More recently, she was Chief Executive of a biofuel joint venture 50 per cent owned by BP. Ann serves as a Non-Executive Director of the UK government’s Foreign & Commonwealth Office Audit and Risk Assurance Committee. She is also a Board Member of the International Advisory Group of the Confederation of British Industry. Ann holds an MA in modern languages from Edinburgh University and a post-graduate Diploma in Russian from Strathclyde University.
Can you tell us a little about the career path you have taken? Having studied languages, I always wanted to use them in business and was lucky enough to start my career with a terrific business training in Shell International, and spent 20 years doing a variety of front-line business leadership roles, using my languages. The needs of a young family to have me in the same country more, led me to work for the British government where I was able to put my business and especially change management experience to good use. Returning to the corporate world, I was getting “greener” in my career and became a farmer of Jatropha for biofuel, as CEO of a JV between BP and D1 Oils. After BP changed their strategy and the company was sold, I joined a Norwegian Consultancy called Xyntéo as MD Energy before joining Rolls-Royce plc in 2013 as Director International looking after a team spread globally, responsible for the company presence in country/ wider region, business development, government relations and country strategic insight.
Ann Cormack
Director – International, Rolls-Royce
election for Rolls-Royce. Throughout the year there are times when I am travelling 3 weeks out of 4 and that can be Japan or Brazil, Russia or Singapore. We have no corporate presence in Africa, so I also support those in the company doing business in those 54 countries.
In 2015 you were part of former PM David Cameron’s trade delegation to South-East Asia. How does this experience affect your perceptions of the challenge facing the UK Government as they enter into new trade arrangements following the Referendum? Media coverage will be informing your readers on a more expert basis than I can, but for Rolls-Royce, an international company with a proud British heritage and strong brand, it is clear we are welcome as suppliers and partners all around the world. The challenge ahead is huge, it will take time and commitment of resources, but many parts of the UK government do an excellent job of supporting British business abroad, which we and others very much appreciate. I felt on that visit, and in many other countries, there is great respect, and a warm welcome, for the UK and British business – which is known for innovation, quality and technology.
Moving away from the professional questions, what do you like to do in your spare time? I am a keen swimmer and scuba diver. I swim about 5kms each weekend to try to maintain at least some degree of fitness in a busy work life. My husband and two daughters are equally keen divers and it’s nice to do it as a family. Ski-ing, horse riding and fishing have featured too, though there’s less time for those nowadays. Otherwise it’s keeping up to date with current affairs whilst on the aeroplane…
If you could invite any three people to a dinner party, who would they be? Winston Churchill, Ptolemy and David Attenborough
What constitutes a ‘typical’ day for you? No day is the same as any other. I can be identifying new opportunities - whether in sales or with potential suppliers and partners, handling issues and relationships to do with Brexit, providing insight to strategy development, managing briefings into our company from my team around the world – including the potential consequences of the US
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Cover Story
Two Decades of Ethical Progress: Building and Sustaining Stakeholder Trust SUSTAINABILITY
Steve Pegg Senior Ethics Officer, Lockheed Martin, Europe, Middle East and Africa
Lockheed Martin was formed in 1995 through the merger of the Lockheed and Martin Marietta Corporations. Throughout the past two decades, we have been guided by a core set of values and a consistent focus on being a leader in integrity. This twenty year effort was recognised in 2015 when Lockheed Martin was placed within a very select group of organisations to have received a Transparency International ‘A’ rating on its UK Defence Companies Anti-Corruption Index for public information about our anticorruption programme. With only three other companies receiving a similar rating, this status places Lockheed Martin in the top 2% of the industry.
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The Lockheed Martin Ethics and Sustainability Journey so far Ethics is a cornerstone of Lockheed Martin’s business strategy, underpinned by consistently following the company’s three core values; Do What’s Right, Respect Others and Perform with Excellence. Our ethics code, significant policies and training material are published on our external website. The company has been recognised for a number of key achievements, including its unique annual ethics awareness and training videos, delivered face to face by managers, which incorporate values-based techniques to help employees navigate workplace ethical dilemmas. These have been so successful, that
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Our unique ethics supplier mentoring programme is voluntary and includes 1:1 mentoring and resources for selected suppliers as well as videos and webinars which are freely available to any supplier. Since its inception in 2012, this programme has mentored over 30 suppliers and is now being expanded to our EMEA and Asia Pacific regions. they have been licensed to other companies in the construction, defence, electronics, energy, insurance, and pharmaceutical sectors. To embed the same behavior in our suppliers, a supplier ethics page containing a range of free resources and codes of conduct has been created. Within the organisation, there is an annual Chairman’s award recognising exemplary ethical behavior. In addition, several Apps are available to support employees, including an interactive code of conduct and a ‘decision tree’ tool to guide the giving or acceptance of gifts, hospitality and sponsorships. We are proud of the trust earned from customers, partners, suppliers and shareholders as a result of two decades of ethical work. We believe that acting with integrity and ethical governance has a positive influence on sustainable development and economic and social progress worldwide.
The remaining four pillars; Product Impact, Information Security, Resource Efficiency and Employee Wellbeing each focus on additional sustainability factors. Future Challenges Our ethics and sustainability focus areas will continue to guide our work over the next four years as we look to retain our position as a global leader in ethical governance through continued transparency and supply chain accountability. Our future sustainability and business strategy will be guided by tracking global megatrends such as geopolitical instability and the need for our products to support national safety, energy resilience, cyber security and data protection as well as the skills gap in science, technology, engineering and mathematics (STEM).
Interlinking Ethics and Sustainability For us, ethics and sustainability are interlinked. Building on the success of the work to embed company values, our sustainability programme started in 2012. Both ethics and sustainability programmes are the responsibility of a single Senior Vice President, Dr Leo Mackay, who chairs an Ethics and Sustainability Committee at Board level. Emphasising this interlinking, Ethical Conduct and Business Integrity is one of five pillars within our Sustainability Management Plan and focusses on a number of sustainability factors including; • Anti-Bribery and Corruption Controls, • Governance, Leadership and Transparency, • Supplier Conduct and; • Responsible Sales www.babinc.org
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What BAB members are saying about sustainability “Contributing to a better world always has been a core value at Ford, and our commitment to sustainability is a key part of our company DNA. Ultimately, our vision is to make people’s lives better by changing the way the world moves, just as Henry Ford did more than a century ago.” William Clay Ford Jr., Executive Chairman, Ford Motor Company
“Sustainability at Shell means providing energy in a responsible way, in a manner that respects people and communities, their safety and the environment. We know that our long-term success relies on our ability to provide the energy and related products people need, in a way that is competitive, lower-carbon and socially responsible.” Sinead Lynch, Chair – Shell UK Limited
“Our new building will be a model of energy conservation and will boast cutting edge features that meet both the US and UK standards of energy efficiency and the use of alternative energy sources. This project is not just about the building. It is the people who work there – both British and American, those who visit it, and those who work in close proximity to it. Its design and location encourage walking, cycling, and the use of public transportation.” Lydia Muniz, Director of the Bureau of the Overseas Buildings Office, US Department of State
“While air travel plays a unique role in bringing people together, whether it is to visit family and friends, conduct business, or simply to enjoy a hard-earned vacation, we recognise that many people want to minimise its environmental impact. That’s why at United we are making environmentally-friendly choices, both on the ground and in the skies, to be at the forefront of the commercial airline industry with our commitment to the advancement of sustainable aviation biofuels. We made history earlier this year with the launch of regularly scheduled flights from Los Angeles using sustainable biofuel.” Bob Schumacher, Managing Director Sales UK and Ireland, United
“Gulfstream sought out a dedicated supply of renewable fuels so we could take our sustainability efforts to another level. Flying our demonstrators and Field and Airborne Support aircraft on the fuel allows us to decrease emissions and spread awareness throughout the industry of the benefits and accessibility of alternative fuels. This initiative also helps us support the overarching business aviation industry’s sustainability goals, which guide our sustainability strategy.” Steve Cass, VP Technical Marketing and Communications, Gulfstream
“A business that aims to be sustainable has to order its priorities accordingly. It has to make safety its top priority. It has to earn and maintain the support of society. And it has to take action to help safeguard the environment for future generations. So issues of sustainability are vital for the future of our business.” Bob Dudley, Group Chief Executive, BP 8
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Cover Story
Business and Natural Capital SUSTAINABILITY
Steven Lang
Partner – Cleantech and Sustainability, EY
Lucy Godshall
Senior Sustainability Consultant, EY
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One of the most exciting aspects of advising the world’s largest companies on their sustainability strategies, is the insights that this provides into how they are responding to some of the most challenging issues that we face in the twenty-first century. A business’s relationship with the natural capital that ultimately enables it to exist, is one such critical issue. Some of the issues our clients are considering here include: How does natural capital impact decision making? Is there a hidden risk to my business? Do my investors care? Will this factor into future regulation? These types of questions frame the discussions we regularly have around this issue, whether with the C-suite Executive in the Boardroom, or a Biodiversity Analyst in the field. However, these conversations tend to be with the minority of companies, those that have already grasped the significance of the issue. While overall awareness and understanding of natural capital valuation is still fairly nascent, the dialogue is gaining momentum through the Natural Capital Coalition. With the launch of the Natural Capital Protocol, we expect a new wave of companies to join the conversation, and account for their relationships with natural capital. The Protocol represents the culmination of a dialogue around natural capital that started almost half a century ago, and its launch celebrates the creation of an enabling space for discussion, collaboration and innovation. However, the resulting scale of its adoption still remains to be seen. The Protocol aims to provide a standardized framework for business to identify, measure and value their direct and indirect impacts (both positive and negative), as well as their dependencies on natural capital. By so doing, the Protocol aspires to “achieve a shift in corporate behavior to preserve and enhance, rather than deplete the earth’s natural capital”. This is a two-way street, a give-and-take relationship that relies on cooperation and a shared understanding of the importance of natural capital. This understanding must extend to every corner of the business community if progress in this area is to be achieved. Natural capital is becoming not only a major sustainability movement but also a business imperative, and the Protocol should help to address this. Over the course of two years, the development of the Protocol has relied on technical expertise, public consultation, pilot testing and business engagement in order to work with business and, ultimately, encourage more widespread adoption of natural capital valuation and measurement. As part of the business engagement process, we heard from more than eighty businesses – from across fifteen
different business sectors and seven geographical regions – about the key factors that would influence their adoption and use of the Natural Capital Protocol. A snapshot of this engagement is distilled in the Natural Capital Coalition’s report, Natural Capital Protocol: Feedback Report from Business Engagement Partner Interviews. In seeking to address the priorities and expectations of the business community, the Technical Drafting team considered these findings alongside other business insights, such as the piloting program, case studies and existing good practice. While the intended applications of the Protocol differ from business to business, many of the companies interviewed as part of the consultation process united around key principles, those that would be fundamental to their endorsement and adoption of the Protocol. Businesses wanted a clear framework that was accessible, flexible and aligned with existing methodologies; one that conveyed credibility, business relevance, and, above all, provided guidance that could drive meaningful results for decision-making. In particular, the businesses we spoke to aspired to a Protocol that would unlock value when addressing natural capital in their companies, and assist them in making decisions ranging from supply chain management to strategic investments. These are critical business applications that the Protocol could help to address, and that could also generate business benefits. With the launch of the Protocol, we must ask ourselves: will it meet the needs of the business community, and who else will get on board? Having been fortunate enough to have played a central role in the business engagement process, which has significantly shaped the Protocol’s development, we feel confident that there is immense value in both the Protocol and the first sector guides that accompany it (Food and Beverage and Apparel). The Protocol will not only provide a consistent and structured framework that enables businesses to assess their natural capital impacts and dependencies in a measured manner, but it will also encourage deeper and more widespread discussion about natural capital that is both aligned with business expectations, and which challenges them to do more. As such, the Protocol represents an important step in building the foundation for mainstream adoption of natural capital accounting in business.
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Cover Story
US Election:
A new role for the private sector in fighting climate change? CLIMATE CHANGE
Emanuel Adam
Director of Policy and Trade eadam@babinc.org Follow Policy on Twitter @BABPolicy
“The unpredictability of President-elect Trump on key policy issues has created much anxiety, not least among all those who are dedicated to fighting climate change.”
During the campaign, Donald Trump repeatedly called to abandon international climate agreements, dismantle the US Environmental Protection Agency (EPA) and repeal many of President Obama’s environmental regulations, such as the Clean Power Plan, which seeks to limit carbon emissions from coal and gas-fired power stations. Since the election Mr Trump has already softened his tone on the issue. The legislative scope to follow through with his plans could be limited anyway. It was a Republican Congress which approved the main subsidies for wind and solar-power generation last year, which made up two-thirds of new generating capacity last year and with Republican-held states such as Kansas, Oklahoma and Texas among the main beneficiaries. Nonetheless the possibility of America reversing their leadership on fighting climate change is causing much concern around the world. In a letter to President-elect Trump, President Obama, Members of Congress and Global Leaders at COP22 sent shortly after the election hundreds of American companies including Mars, Nike, Levi Strauss and Starbucks re-confirmed their commitment to addressing climate change. The letter called on US leaders to continue low-carbon policies, invest in the low carbon economy and continue US participation in the Paris Climate Agreement, which the UK Government ratified on 17 November 2016. Business has already demonstrated a real and tangible interest in being a driver of sustainability and has long sought to be part of relevant climate change discussions. Being so vocal and direct in asking government to commit to addressing climate change, however, seems to have taken this to a new level. Do we see a new private sector role in fighting climate change? 10
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No-one disputes the need of energy for economic growth and the smart use of natural resources. But even the world’s largest energy firms, such as BAB members BP or ExxonMobil do explore how the increasing demand for energy can be met while addressing climate change and other environmental and social issues. The reason is simple: A world that is increasingly exposed to the consequences of climate change is not good for business. A study on the Economics of Climate change commissioned by the British Government in 2006, which continues to be a relevant reference in the field, predicts that damage from climate change could be equivalent to losing 5% of global GDP annually. Tackling climate change through joint agreements and regulation is helpful as it provides companies with the predictability they need to plan and operate. Adapting to climate change in a common framework avoids costs, helps to manage liabilities, protects people and environment and fosters innovation. With the latter, climate change is a business opportunity. Whether it be eco-friendly construction, green financial solutions or the expansions of renewable energy, the green economy’s share in world GDP is growing continuously. BAB member Arup, for example, is already a leader in sustainable building designs. First reactions to Mr Trump’s proposals to radical changes in environmental policy from other countries, including China, spur the hope that the rest of the world will stay on course when it comes to climate change. In America, however, we may need a louder business voice now more than ever before.
If you are interested in receiving regular policy updates and engaging with BAB’s Policy Team please get in touch at policy@babinc.org and follow us on Twitter @BABPolicy www.babinc.org
Feature
Trump’s Impact On Whistleblower Laws FINANCIAL SERVICES
By Philip Berkowitz Shareholder, Littler Mendelson, P.C.
In the last year, the Obama Administration has acted aggressively to impose new whistleblower protections and other employment-law restrictions on financial services and publicly traded companies. What are these activities, and how will a Trump presidency affect them? Whistleblower Laws and New Restrictions on Confidentiality Agreements The US Sarbanes-Oxley and Dodd-Frank Acts prohibit retaliation against an employee who reports conduct that the employee “reasonably believes” constitutes mail fraud, bank fraud, wire fraud, securities fraud, a violation of the rules or regulations of the SEC, or a violation of other laws relating to fraud against shareholders. Dodd-Frank also provides for “bounty” awards to whistleblowers who voluntarily provide “original information” to SEC of fraud within a company that leads to a successful enforcement action resulting in a penalty of $1 million or more. In October 2016, the United States Securities and Exchange Commission announced that it considers illegal any employer-imposed limitation on employees’ ability to disclose confidential trade secret information to the SEC if the employee wants to make disclosure in pursuit of whistleblower claims. The Agency warns that the SEC “is reviewing a variety of documents,” including employment agreements, for language that prohibits disclosures of confidential information, require employees to notify or obtain consent from the employer prior to disclosing confidential information, or permit disclosures of confidential information only “as required by law”, without providing an exception for voluntary communications with the SEC. New Guidance on No-Poaching Agreements and Information Exchanges In October 2016, the federal government released the “Antitrust Guidance for Human Resources Professionals”. The Guidance highlights the illegality of two employment activities: (1) “no-poaching agreements”, in which competitor companies agree (secretly or otherwise) not to hire the other’s employees, and (2) competitors’ exchanging wage information, and with that exchange improper efforts to fix wages, or “wage-fixing agreements.” The Guidance specifically advises that “[g]oing forward, the [Department of Justice] intends to proceed criminally against naked wage-fixing or no-poaching agreements.” It continues, “the DOJ will criminally investigate allegations that employers have agreed among themselves on employee compensation or not to solicit or hire each other’s employees.” If such an investigation “uncovers a naked wage-fixing or no-poaching agreement, the DOJ may, bring criminal, felony charges against the
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culpable participants in the agreement, including both individuals and companies.” A no-hire agreement that is ancillary to a legitimate business interest is generally permissible. Thus, a company and a third-party service provider might promise, as part of their contract, not to hire, for a limited period of time, the employees who worked on the contract. As part of due diligence in a potential merger, the target and acquiring companies may quite properly agree not to hire each other’s employees. And employment and severance agreements may properly require the individuals not to poach employees for a certain period after employment terminates. Information Exchanges The Guidance cautions companies against exchanging competitively sensitive wage information. This, too, constitutes an antitrust risk. Information exchanges are per se unlawful if they are separate from or not reasonably necessary to a larger legitimate collaboration between the employers. However, information exchanges may be lawful in the context of determining whether to pursue a merger or acquisition; where a neutral third party manages the exchange; the exchange involves information that is relatively old; the information is aggregated to protect the identity of the underlying sources; and enough sources are aggregated to prevent competitors from linking particular data to an individual source. Thus, the less useful the information exchange, the less likely that it will be considered unlawful. Trump: What to Expect? Trump has positioned himself as an opponent of big banks and Wall Street. Thus, eliminating remedies for employees of those institutions who seek to expose fraud and wrongdoing would seem contrary to his mandate. On the other hand, Wall Street whistleblowers are not necessarily Trump supporters. As a conservative businessman now thoroughly aligned with the Republican Party, it is to be expected that he will take a pro-business stance where he can. Let’s face it: Whistleblower remedies are not necessarily a defining part of the Republican Party’s agenda. Indeed, the Republican Party has spoken of repealing Dodd-Frank entirely. Responsible companies are not likely to – nor should they – abandon or scale back their codes of conduct and ethical standards. But the Obama administration’s aggressive activities in its final days are likely not to be embraced as a part of the new Administration’s agenda.
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Feature
Potential US Tax Reform Under President Trump TAXATION
By Kenneth Bransom Partner, Deloitte
Outlook for US Corporate Tax Reform and Potential Impact on US-UK Trade and Investment After the US presidential election on 8 November 2016, Donald J. Trump is set to become the 45th President of the United States following his inauguration on 20 January 2017. In addition, the Republican Party retained majorities in the House of Representatives and US Senate. For the first time since 2007, the Republican Party will have complete control of the levers of government which could see the first major US tax reform in over 30 years. President Ronald Reagan enacted the Tax Reform Act of 1986, ushering in sweeping changes to the US corporate tax system, particularly in the international tax arena. However, a lack of much needed updates over the past three decades has left the US facing the highest corporate tax rate in the developed world and an antiquated international tax system. This system discourages inbound investment into the US, has precipitated the now infamous “inversion” transactions resulting in US-based multinational groups leaving the US and has encouraged US multinationals to squirrel away over $2.5 trillion of accumulated earnings offshore. So, what should US and UK-based groups expect from the tax reform debate over the next 12 months? A ‘Pro-Growth’ Focus As a primary focal point, a Trump-led administration and Congressional Republicans appear to be focused on pushing through corporate tax reforms that are most likely to result in domestic economic expansion. As evidenced by the proposed reforms, discussed below, managing the inevitable budget deficits may fall further down on the list of objectives. Corporate Tax Rate Reduction President-elect Trump has proposed reducing the top federal corporate tax rate (excluding state and local taxes) from 35% to 15%. Congressional Republicans are directionally aligned with Presidentelect Trump but have proposed a reduction of the corporate tax rate to 20%. As with any tax reform, the loss of tax revenue resulting from the proposed rate reduction will almost assuredly be offset, in part, by other revenue raising reforms. Following is a discussion of some possible areas of revenue raising. Pass-Through Investments One of most impacted groups may be businesses that invest and manage investments through partnership entities. President-elect Trump has proposed a change in the tax treatment of so-called “carried interest” fees. Historically such fees have generally been taxed as capital gains at rates not exceeding 20%. Proposals under discussion would suggest carried interest fees would be subject to tax at ordinary income tax rates.
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President-elect Trump has also advanced a proposal to levy US federal income tax at a 15% rate on partnership profits flowing through to investors. What that may mean for individual investors is that all partnership profits, currently subject to tax at a maximum rate of 39.6%, would be subject to tax at a rate of 15%, presumably inclusive of carried interest income. Accelerated Tax Relief for Capital Investment and Scale-back of Corporate Tax Expenditures Capital intensive businesses will welcome changes proposed regarding capital investment. Rather than allowing businesses to claim relief for capital investments through annual depreciation deductions, current proposals would allow a deduction for capital expenditure as incurred. However, the proposals envision a loss or partial reduction in the deductibility of interest expense as well as the possible repeal of many, if not most, other corporate tax expenditures, exclusive of the research and development credit. Territorial System of Corporate Taxation One of the key proposals that has been put forward by Congressional Republicans is the introduction of a territorial tax regime in the US. Generally, territorial tax systems operate to impose tax on profits derived within a jurisdiction and exempt from taxation profits derived elsewhere. The US is one of the few remaining developed countries that imposes corporate tax on worldwide profits, allowing a credit against US tax for taxes paid abroad. As a result, US-based multinational groups have accumulated lower taxed profits offshore in order to avoid the imposition of US corporate tax levied on those profits when repatriated back to the US. ‘Border Adjustments’ Finally, Congressional Republicans have proposed a fundamental shift regarding the treatment accorded to goods imported into and exported from the US. In particular, the proposal would “provide for border adjustments exempting exports and taxing imports” by taxing business income based upon the location of consumption rather than the location of production. Prospects for Enhanced US and UK Trade In summary, taken as a whole the proposals would appear to be encouraging to cross-border investment. Inbound investment into the US would likely increase due to the reduced US corporate tax rate and the ability to immediately deduct capital expenditures as incurred. Further, a move to a territorial system of taxation would provide US multinationals a degree of flexibility that may encourage more freeflowing foreign investment outside of the US. Regardless of where the legislative process concludes, and what is finally enacted, the next twelve months promise to be exciting.
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Feature
A Student’s View –
Transatlantic Relationship post Brexit and Trump OPINION
Basanti Mardemootoo International Relations, University of California, Davis
Troy Dougall
Political Science and Middle Eastern Studies, University of Utah
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Recently BritishAmerican Business met with students from the University of California, Davis, to discuss the future of transatlantic business. We invited two students to provide a student’s perspective of how recent events might impact the ‘special relationship’. The world today is in a moment of extreme uncertainty. It’s easy to have a pessimistic outlook on what the future holds. After the United Kingdom’s ‘Brexit’ referendum followed by Donald Trump’s win of the US election, dramatically rethinking through every assumption about the next 10 years can be justified. However, the ‘special relationship’ between the United States and the United Kingdom represents a long-lasting relationship destined to continue. This inevitable alliance finds its roots in the deeply shared values, culture, traditions and most often times shows itself through similar policy and political orientations. Though anti-Trump sentiments will circulate through Europe, trade and investment in Europe should see minimal alterations. During an interview with Professor Emeritus Michael Cox who specializes in the Transatlantic Relationship at LSE, we found our argument reiterated when he stated that economics will not be as affected if “Trump can keep the American economy moving forward, and even upwards, and if he creates massive business opportunities”. The issue will be if Trump is able to pursue a full shift towards a completely protectionist US economy, but America is far too integrated into the world economy, in foreign trade, and foreign direct investment globally to retreat into pre-war protectionism. Regarding the Transatlantic Trade and Investment Partnership (TTIP), we are cautiously hopeful. Many US presidents have gone into office with skepticism of Europe but soon enough find out that when faced with a sometimes chaotic world, there aren’t alliances as strong or as lasting as allies in Europe. The future of the TTIP depends entirely on where Trump’s opinions on trade truly stand. If Trump’s stance is due to US jobs being shipped away due to an unequal playing field then his arguments against TPP and NAFTA will not be as easily sold against TTIP because European workers work for roughly the same wage as American workers. That being said, after the victory of Donald Trump, the European Union Trade Commissioner, Cecilia Malmstrom, said that TTIP will be frozen, “Then what happens when it’s defrosted, I think we will need to wait and see.”
Of course, there are negatives regarding the future of the transatlantic relationship. We are likely to see a dip in public opinion as a Pew Research poll in the Spring of 2016 found that 77% of Europeans had ‘confidence’ in Obama to do the right thing regarding world affairs whereas 85% of Europeans saying they had ‘no confidence‘ in Trump. A combination of Trump’s stances on Russia, discriminatory domestic policies, and threats to pull out of the Paris Climate Agreement will have a negative effect on public opinion. Furthermore, Trump could damage European attitudes toward the US by jeopardizing their position in the Iran Deal. In an interview with the BBC, CIA Director John Brennan warned that pulling out of the Iran Deal ‘would be disastrous’ and on the 14th of November 28 European countries unanimously reaffirmed their commitment to the Iran Deal. Trump’s appointed successor to Brennan as CIA Director has tweeted saying, “I look forward to rolling back this disastrous deal.” The deal opened up business opportunities for US and European businesses in Iran. One of the biggest openings was the approval of US’s Boeing and France’s Airbus to sell planes in Iran. However, these business deals may be at risk after Trump takes office. It could be contingent on influential interest groups and businesses as well as pressure from EU nations to keep the deal in place. An EU press release reaffirming their commitment to the Iran Deal, stated the following: “The European Union welcomes and looks forward to the continued issuing of export licenses by the US Office of Foreign Assets Control for the transfer of commercial passenger aircraft and related parts and services to Iran” hinting that the EU is going to put pressure on the Trump Administration to continue allowing the sale of Airbus to Iran. There are three possible outcomes: Either both Boeing and Airbus are able to continue selling in Iran, neither will be able to sell in Iran, or Airbus will be able to sell in Iran at the disadvantage of Boeing. This cross section of transatlantic relations will end with tangible effects to businesses in the US and Europe and whatever happens will be contingent on interest groups’ and business’ pressure on the Trump Administration.
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Industry Insight
How is global uncertainty affecting the compliance industry? LEADERSHIP
Fears of an economic slowdown and the fate of Europe are the key issues occupying the minds of global compliance professionals. Those are the findings of industry research that The Risk Advisory Group conducted in late October. 53 per cent of respondents to The Compliance Horizon survey cited the threat of a recession as the biggest risk facing their business in the year ahead, while Brexit was their number two concern. The US election also featured highly in compliance professionals’ responses. More than a quarter (27 per cent) said it was one of the biggest threats to their business in 2017, and an even greater number were concerned about the implications of a Donald Trump victory for the profession. Today we’re no longer talking about the candidate who might take power in 2017, but the President-elect of The United States. What Trump’s victory means in reality few of us know for sure. We have little insight into his actual policies other than his plans to build a wall, make a fundamental shift away from free trade, and protect US jobs. How Trump intends to enforce his policies remains an open question. Protectionism usually dictates regulation, which he opposes. Similarly, a lack of trade agreements – whether TTIP or TPP – necessitates enforceable rules to control global trade.
By Bill Waite
Group Chief Executive Officer, The Risk Advisory Group
Perhaps if the rest of the world were stable, concerns over the election of Trump as leader of the world’s largest economy – and self-appointed global architect of compliance – may not matter so much. But the world is far from stable. China is resurgent, and traditional alliances are under threat. In the East, India and Pakistan are once again engaged in hostilities, and across Europe the situation is no more stable, owing to Brexit and increased pressure on leaders across the continent. The current reality is a vacuum of political leadership and of economic and political certainty. Nature abhors a vacuum, and it makes life pretty difficult for compliance professionals too.
Developing a Cyber Strategy CYBERSECURITY
Anxiety over cybersecurity was a central theme of the US Presidential election, raising questions that businesses and governments around the world will face for some time. The following are three areas that will be of concern in 2017 and beyond: How will electronic communications be authenticated? Hackers – widely said to be part of the Russian Government – broke into the emails of the Democratic National Committee (DNC) and other accounts. The information they stole was made public by WikiLeaks in a series of inflammatory releases aimed at disrupting the election. Among the questions raised: How do we know when an email is authentic? We can expect to see businesses and governments focus on two aspects of information governance around security: 1. There is now an increased incentive to use methods at the point of origination that make it possible to later verify authenticity. 2. More information will be created in such a way that its originators cannot repudiate or deny being originators.
By Tom Fuhrman
Managing Director, Marsh Risk Consulting
What will be done to address changing concerns and expectations regarding cyber privacy? Users’ expectation that they will have privacy in cyberspace will take on increasing prominence in the alreadycrowded privacy-issue space. Several key questions arise related to accountability: Who is liable when information privacy is not adequately protected? Will users of information services continue to accept complex and lengthy limitation-of-liability language that characterises today’s online privacy policies? Will users be able to manage or control the privacy of their information themselves in coming years? How will international law evolve to address modern cyber threats? The purported hacking into the DNC by Russian agents puts a focus on current national laws and international covenants: Do they adequately cover potential cyber meddling by one country in another’s elections? This will be hotly debated in the legal domain. But it will take years – decades even – to work out and implement international agreements and domestic legislation globally. It is but one element of the rationalisation of international cyber law that is underway now and is likely to get greater attention in light of the US election. As your organisation develops its cyber strategy and defences in the coming months and years, the issues raised in this election cycle should be firmly on your radar.
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Industry Insight
A school for the whole family EDUCATION
By Caroline Breeds
UK Corporate Relations Consultant, ACS International Schools
The success of an executive business relocation is to a large extent dependent on the happiness of the accompanying partner and family. This is perhaps not surprising given that over 50 per cent of international assignees relocate with children, and one of their greatest concerns is how the move might affect their children’s education and future career prospects. It’s widely accepted that children learn most effectively when they feel safe and secure both at school, and at home. In fact, research confirms that, after ‘changing business conditions’, the most likely reason for a business assignment to the UK to fail is ‘the inability of the family to adjust’ (Source: Cartus Global Relocation Survey). A recent bespoke survey, conducted by ACS International Schools, polled accompanying partners on their experiences of relocating to the UK. With approximately a hundred different nationalities represented there was a wealth of experience to draw upon. The research revealed that partners were pleasantly surprised by many aspects of relocating to the UK. Respondents cited the best aspects as the friendly people; the greenery, outdoors, and nature; and the diverse history and culture. Over a half, (59 per cent), of respondents were positively surprised by how quickly their children settled in. Surprising discoveries were, however, that some claimed to miss big washing machines, and even cheese! According to the survey, the top three areas where a school can provide support to relocating families include the offering of school parent group activities, a buddy family system (the pairing of a new family with an existing family of the same nationality) and events and projects held throughout the year which involve all the family and help them feel welcome. Successful relocations are underpinned by the level of support services offered. It’s always important for prospective parents to check just how the schools they are considering contribute to the transition process. It really can make all the difference to a family’s happiness and wellbeing.
Politics takes centre stage over economic data FINANCIAL PLANNING
Risk has sometimes been defined as the difference between the possible, probably and definite outcomes of any situation. The last twelve months have demonstrated this admirably. Although the EU Referendum was on the horizon from early 2016, the impact on various markets and political landscape was difficult to predict. While much has been written about the impact of Brexit on all of us, one thing is clear; the need for forward planning and management of risk. Currency volatility Given the outcome of the EU Referendum and the resulting fall of the pound against the dollar to levels not seen for 31 years, it’s easy to assume that Brexit was the main contributor. In that instance, Brexit certainly was a significant contributor but even before that, currency volatility was rife. One thing currency markets like is certainty and adding the policy of Central Banks to the mix does not always reduce risk. While many may think that the fall in the pound was always a definite consequence of Brexit, the decline of sterling started well before that in 2015 as investors started to move to more attractive currencies and safer havens.
By Rachel O’Donoghue Partner, Buzzacott’s Financial Planning team
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Planning ahead Although equity markets have rallied significantly since the end of June and we have seen twelve-month highs, there continues to be uncertainty in the wider economy with this often evident when the latest economic data is produced. A long period of low interest rates, fluctuating currency and equity markets together with concerns about property values all contribute to the feeling of economic uncertainty being felt around the UK. Brexit is not the only contributor, and globally there continues to be events that have a direct impact on us all including political issues (such as the US Presidential Election), legislative changes, commodity prices and the persistent threat of terrorism. However, for many, there are also opportunities; legislative change in recent years for example have introduced more flexibility in terms of how one can access pension funds. What is apparent is that any investment / financial planning needs regular review in our ever changing world.
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Event Highlights
Women’s Network Annual Conference LONDON
Moderator Simon Fanshawe with panelists Henrietta Jowitt (Deputy Director General – Commercial, CBI), Kirsty Bashforth (Founder, QuayFive), Yvonne Smyth (Director & Head of Diversity, Hays), Jane Delbene (Director, External Relations, University of Chicago Booth School of Business) and Paula Boyle (Owner, Paula Boyle Coaching and Facilitation).
Baroness Sandip Verma spoke openly about overcoming gender bias both at home and within politics. The Baroness singled out PM Theresa May as a mentor for women in the Conservative Party.
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Sir Philip Hampton (Chairman, GSK) addresses the Conference and discusses his position as Chair of the Women on Board’s review looking at increasing representation of women in the executive level of FTSE 350 companies.
More than 300 women (and a number of men) attended BAB’s Annual Women’s Network Annual Conference at the University of Chicago Booth, London that focused on issues of ‘Significance, Leadership and Success’.
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Event Highlights
LONDON
Gala Dinner On 28 September, BritishAmerican Business hosted a Gala Dinner at the prestigious Lancaster House. The dinner proved to be an enormous success amongst member guests and was joined by H.E. Matthew Barzun, US Ambassador to the UK, and Iain Conn, Chief Executive at Centrica.
Ian Davis CEO Roundtable On 28 November, BritishAmerican Business held an exclusive roundtable breakfast with Ian Davis, Chairman, Rolls-Royce. In partnership with Willis Towers Watson, the roundtable offered a lively, off-the-record discussion on Rolls-Royce’s perspective on sustainability and the imperatives for business.
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Speaker’s House Reception On 19 October, BritishAmerican Business invited members to a reception kindly hosted by the Speaker of the House of Commons in honour of the British-American Parliamentary Group. The Rt.Hon. Chris Grayling MP, Nic Walsh, Chairman of BAB, and H.E. Matthew Barzun, US Ambassador to the UK, all provided powerful remarks on the Special Relationship.
Thanksgiving Reception On 29 November, BritishAmerican Business held a warmly received Thanksgiving Reception at the iconic BT Tower. Guests spent the night networking and admiring the incredible view while enjoying Thanksgiving-themed cocktails and treats in celebration of this great American tradition.
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Event Highlights
2016 Transatlantic Business Awards Dinner – 13 October NEW YORK
50 of New York’s members supported the 2016 Transatlantic Business Awards Dinner by purchasing tables and tickets, or contributing donations.
Chairman & Chief Strategy Officer of member company, WL Ross & Co, Wilbur L. Ross Jr, offers remarks before presenting and introducing 2016 Global Impact Award honoree Lord William Hague of Richmond.
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Sir Kim Darroch KCMG, Her Majesty’s Ambassador to the United States (left) and BritishAmerican Business Board of Directors Chairman, Christopher J. Perry, President, Global Sales, Marketing & Client Solutions at Broadridge Financial Solutions, present Nasdaq CEO, Robert Greifeld, with the US Transatlantic Business Award for 2016.
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Event Highlights
NEW YORK
Leadership Forum with Abigail Posner Sponsored by Lloyd’s Bank and hosted by DLA Piper On 13 September, Google’s Head of Strategic Planning, Abigail Posner, discussed the current trends in the digital space and what it means to communicate effectively with clients and customers at New York’s flagship Leadership Forum series, sponsored by Lloyd’s Bank and hosted by DLA Piper.
Ambassadorial Briefing with Matthew Barzun Sponsored and hosted by KPMG On 4 October, United States Ambassador to the United Kingdom, H.E. Matthew Barzun, addressed 60 executives with his presentation on “Using Diplomacy to Drive Diversity” at New York’s Ambassadorial Briefing.
Ambassadorial Roundtable with Sir Kim Darroch Sponsored by KPMG Hosted by Hearst On 14 October, executives joined Sir Kim Darroch KCMG, Her Majesty’s Ambassador to the United States, for an exclusive roundtable breakfast for an intimate discussion on “the State of the Special Relationship”.
EACC Women’s Forum with Sally Susman Hosted by J. Walter Thompson On 3 November, members from the European American Chambers of Commerce, including BritishAmerican Business, Germany, Spain, France and Switzerland, joined moderator, and Board Member, Jennifer Prosek, Founder & CEO, Prosek Partners, for a fireside chat with Pfizer’s EVP, Corporate Affairs, Sally Susman on Susman’s political career, the state of leadership and what it means to be a modern woman in business.
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2016 A N N UA L
R E P O RT
CONNECT. COMMUNICATE. INFLUENCE.
The BritishAmerican Business
2016 ANNUAL REPORT is online at
www.babinc.org/annual-reports
Events Calendar
LONDON
December 2016
January 2017 CEO Roundtable with Lord Heseltine Wednesday 7 December, 2016 Sponsored and hosted by Willis Towers Watson
December 2016
March 2017 Pre-inauguration breakfast Tuesday 10 January, 2017 Hosted by Aberdeen Asset Management
December 2016 Annual Christmas Luncheon at The Dorchester Thursday 8 December, 2016
December 2016
CEO Roundtable with Antonio Horta Osorio, CEO, Lloyds Banking Group Thursday 16 March, 2017
June 2017 Roundtable with Professor Tim Stone, CBE Wednesday 25 January, 2017 Sponsored by Willis Towers Watson
February 2017 What to expect from Trump Presidency Breakfast Briefing Thursday 15 December, 2016 8:00 – 9:30 Hosted by Squire Patton Boggs
Corporate Citizenship Award Dinner Thursday 15 June, 2017 Hosted by Merchant Taylors Hall
December 2016 Chairman’s Lunch Thursday 23 February, 2017
CHASE AWARDS Dinner Date TBC
March 2017 NEW YORK
December 2016
January 2017 Annual Christmas Luncheon at The Pierre Friday 9 December, 2016 at The Pierre, a Taj Hotel
March 2017 SME Forum | Fighting Smarter: Winning in the Talent Ring Tuesday 7 February, 2017 Sponsored by HSBC Hosted by Withum
Ambassadorial Briefing with Matthew Rycroft Thursday 26 January, 2017 Sponsored by KPMG Hosted by Hogan Lovells
January 2017
December 2016 Leadership Forum with Sir Martin Sorrell Tuesday 10 January, 2017 Sponsored by Lloyds Bank Hosted by Y&R
March 2017 Washington Insight Tuesday 31 January, 2017 Sponsored by Alston & Bird
January 2017
February 2017 Business Briefing; Your Talent Brand Wednesday 18 January, 2017 Sponsored by ACCA
CEO Roundtable with Tracy Wolstencroft Tuesday 14 February, 2017 Hosted by Heidrick & Struggles
March 2017 Meet the Disruptors Roundtable Thursday 2 February, 2017 Sponsored by American Express
Roundtable with Tom Farley Tuesday 7 March, 2017 Hosted by NYSE
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2017 AWA R D S
D I N N E R
15 June 2017 | Merchant Taylors’ Hall