Shriti Vadera, Baroness Vadera

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Shriti Vadera, Baroness Vadera

Shriti Vadera, Baroness Vadera , PC (born June 23, 1962 in Uganda ) is a British investment banker and politician ( Labor Party ).

Life

Origin and professional career

Vadera comes from a family of Indian descent in Uganda. Her parents were members of a high Hindu caste. Her mother was of Kenyan origin; her father was from Uganda. She attended elementary school in Jinja , Uganda. Her family owned a small tea plantation , but fled to India in 1971 (according to other sources: 1972) after the Idi Amin's military coup when the Ugandan government expelled Ugandan Asians. In India, Vadera then attended schools in Bangalore and Bombay . The family later moved to the UK . She attended Northwood College . She studied in the course Philosophy, Politics and Economics (PPE) the subjects philosophy , political science and economics ( Economics ) at Somerville College of the University of Oxford .

In 1984 Vadera joined the investment bank UBS Warburg . Vadera then worked for more than fourteen years, where her work included advising governments in several developing countries, particularly in Africa , as well as debt relief and restructuring. She was also involved in the partial privatization of South African Telecom .

In 1999 she joined the UK Treasury and Commerce Department , where she was a close financial advisor to future Prime Minister Gordon Brown ; she was there since 1999 a member of Brown's advisory board.

Political career

After his election as Prime Minister in June 2007 appointed Gordon Brown Vadera the Parliamentary Under-Secretary ( Parliamentary Under-Secretary of State ) in the Department for International Development ( Department for International Development ). From 2007 to 2008 she was Minister for International Development ( Junior Minister for International Development ). After six months as Minister for International Development, she was transferred to the Department for Business, Enterprise and Regulatory Reform (now Department for Business, Innovation and Skills ) as Parliamentary Undersecretary, even after internal criticism . From 2008 to 2009 she was Business Minister under Gordon Brown. In October 2008, she was also Parliamentary Secretary ( Parliamentary Secretary ) in the Cabinet Office . In 2009 she also became a member of the Privy Council .

Vadera's collaboration with the ministries was generally difficult; Newspapers reported a "frosty relationship". Vadera herself described her cooperation with the ministerial administration as "challenging". She was known as the "Dragon of Westminster". One official who worked with her described Vadera as "tyrannical, rude, insolent, know-it-all." After several ministerial officials resigned after Vadera's move to the Department for Business, Enterprise and Regulatory Reform , Alan Duncan , the conservative shadow minister for economics, introduced the Vaderas public authority in question. Vadera also received support, for example from Stephen Alambritis of the Federation of Small Businesses ; He said: “If the administration complains about you [di Vadera], then perhaps more ministers should be like you; she does her job and does her job. "

At the height of the banking crisis in 2008 , Vadera, together with the then finance secretary Lord Paul Myners, drafted a rescue plan for the British banks in October 2008. The model for this was the model of bank recapitalization, which had been successfully applied in Sweden in the early 1990s . In an interview with the London Evening Standard in September 2009, Vadera later explained her contribution to the hitherto unique bank rescue pact.

On September 24, 2009 it was announced that she would resign as minister to take on an advisory role for the G20 , which she held until 2010.

On October 14, 2009, she gave an interview to British television journalist Alastair Stewart on ITV Lunchtime News , which ended as follows:

  • Alastair Stewart: "[...] You are a former banker and businesswoman and now a minister - when will we see the first signs of an economic recovery [in the original: green shoots of recovery]?"
  • Baroness Vadera: “Well, it's an uncertain world right now globally, but I don't want to be the one to predict it. I see a few (green) signs, but it's a little too early to say how these will develop. "

Your response sparked several comments, including from Shadow Chancellor George Osborne and former Chancellor of the Exchequer Norman Lamont , who first used the term green shoots in 1991. Lamont said it was far too early to use a term like this.

Membership in the House of Lords

Vadera was named a Life Peer as Baroness Vadera, of Holland Park in the London Borough of Kensington and Chelsea on July 11, 2007 . The nomination as a Life Peer came because Vadera was not a member of any of the Houses of Parliament in the British Parliament at the time she began working for the Brown government .

Your attendance at meeting days was irregular from the start. After the end of her term of office, this continued to decline and from January 2011 she was completely absent. In the press she is therefore included in the group of so-called “silent peers”. Since December 8, 2011, she has been on permanent leave due to a leave of absence granted by the House of Lords .

Later career

In March 2010, The Independent reported that Vadera had accepted a position as a "strategic advisor" to Dubai World on restructuring the debt value of $ 26 billion. In July 2010, The Daily Telegraph reported that she had become a consultant for the Singaporean investment company Temasek . "The reason people like Shriti get these offers is because very few people understand international finance and the geopolitical world at a time when the financial world clearly has some problems with the political world," said Martin Armstong of the recruitment agency Somerton Partners . In December 2010 she became a non-executive director of the boards of BHP Billiton and AstraZeneca .

Vadera is executive director of shriti vadera Ltd .

Web links

Individual evidence

  1. ↑ a b I want to get things done Article in: The Guardian of July 26, 2008.
  2. ↑ Profile: Shriti Vadera Article in: The Daily Telegraph of November 3, 2007.
  3. ↑ Shriti Vadera short profile in: The Guardian ; last accessed on August 5, 2012.
  4. ↑ a b c d e f g Heroes in the background Article in: DIE ZEIT from October 23, 2008.
  5. ↑ a b c d e f Profile: Shriti Vadera Article in: The Guardian from January 15, 2009.
  6. ^ How I helped rescue Britain from brink of bank disaster in: London Evening Standard of September 15, 2009.
  7. ↑ Vadera stepping down as minister article on BBC News of September 24, 2009.
  8. ↑ a b Green shoots' remarks defended article on BBC News January 14, 2009.
  9. ^ The London Gazette July 16, 2007 edition of the London Gazette .
  10. ↑ House of Lords: Members 'expenses Members' expenses on the House of Lords website , accessed July 15, 2012.
  11. ↑ Revealed: 137 'silent peers' who make the case for reform Article in: The Independent from June 6, 2011 (with photo by Vadera)
  12. ↑ Members of the House of Lords granted leave of absence List of members on leave on the House of Lords website , accessed on July 15, 2012.
  13. ↑ UK heavyweight adviser at Dubai debt table, say sources article in: The Independent of March 24, 2010.
  14. ↑ a b Baroness Vadera advises Singaporean sovereign wealth fund Temasek Article in: The Daily Telegraph of July 4, 2010.
  15. ^ Leadership entry on BHP Billiton website , accessed July 15, 2012.
  16. ↑ AstraZeneca PLC appoints new Non-Executive Director Publication on the AstraZeneca website on December 17, 2010.
personal data
SURNAME Vadera, Shriti, Baroness Vadera
BRIEF DESCRIPTION British Labor politician and investment banker
DATE OF BIRTH June 23, 1962
PLACE OF BIRTH Uganda