Morrissey began her career at the New York and London bond desks at Schroders. Finding her career path blocked there, she moved to Newton Investment Management in the early 1990s as a fixed income fund manager.
Morrissey became Newton’s chief executive; as of 2015, it manages £47 billion of assets.
She is Head of Personal Investing at Legal & General Investment Management, which has over £1 trillion of assets under management (2019).
Morrissey has no more experience in banking than the vast majority of people reading this blog piece. So what, precisely, puts her in strong contention to become the next Governor of the Bank of England? Nothing, if you exclude ideologically-motivated reasons.
People familiar with this website will be aware of the longstanding pro-feminist bias of the Bank of England, including under the present Governor, Mark Carney. Morrissey was the founder of The 30% Club, an organization which has relentlessly implied that the observed correlation between boardroom gender diversity and financial performance indicates a causal link, a cynical lie to suggest there’s a business case for appointing more women on boards. In fact, as followers of this website know very well, the evidence from longitudinal studies all point in one direction – there’s a clear causal link between appointing more women on boards, and corporate financial DECLINE. If anything, the business case is to appoint fewer female directors, not more.
So, the next Governer of the Bank of England could be a lying feminist (but I repeat myself). What could possibly go wrong?
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