Oonagh McDonald
Encyclopedia
Oonagh Anne McDonald CBE
(born 1938) is a British academic and businesswoman, and a former Labour Party
politician
.
, Co Durham, the daughter of Dr HD McDonald, an Irish
protestant minister. The family moved to London and she was educated at East Barnet Grammar School and King's College London
, where she gained a Master's degree
in Theology in 1962 and a Ph.D in 1974. She worked variously as a teacher, lecturer, researcher and management consultant. She taught philosophy at the University of Bristol
from 1965-76. She also served as a member of the Financial Services Commission in Gibraltar
and was a senior consultant on international regulatory and public policy issues. Her marriage to Richard Whitehouse ended in divorce.
as the Labour Party candidate at both the February 1974
and October 1974
general elections. She was elected Member of Parliament
for Thurrock
in the 1976 by-election
following the death of Hugh Delargy
.
She became Parliamentary Private Secretary
to the Chief Secretary to the Treasury
, the Rt Hon Joel Barnett (now Lord Barnett) in 1977. She was then Opposition Spokesman on Defence from 1981-1983, and then Opposition Spokesman on Treasury and Economic Affairs from 1983-1987.
At the 1987 general election
she lost Thurrock to the Conservative
candidate Timothy Janman.
, ICE Futures and Virt-x and a member of International Monetary Fund
's Expert Roster. She was previously a director of the UK Financial Services Authority
(formerly the Securities and Investments Board), a director of the General Insurance Standards Council, a director of Skandia Insurance Co Ltd, a director of the Financial Services Ombudsman Scheme, a director of the Investors Compensation Scheme and of Scottish Provident (until demutualised and sold to Abbey National
in 2001), and a member of the Gibraltar Financial Services Commission. She has undertaken numerous consultancy projects on financial regulation and the development of private pensions for the Asian Development Bank, the IMF, USAID and the British Know-How Fund in Russia, Nepal, Sri Lanka, Indonesia, Ukraine, Bulgaria, Brunei and Moldova.
She was Gwilym Gibbon Fellow at Nuffield College, Oxford
and wrote The Future of Whitehall, Weidenfeld and Nicolson, 1992 and is also the author of Parliament at Work, Methuen, 1989 and The Future of Retail Banking in Europe: A View from the Top, with Professor Kevin Keasey
, John Wiley & Sons, 2002, and numerous research papers for a variety of clients including Deloitte's and PricewaterhouseCoopers. She is currently a Visiting Fellow, International Institute of Banking & Financial Services, University of Leeds
. She also edits the Journal of Financial Regulation & Compliance. In 1998, she was awarded the CBE
for services to financial regulation and business.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(born 1938) is a British academic and businesswoman, and a former Labour Party
Labour Party (UK)
The Labour Party is a centre-left democratic socialist party in the United Kingdom. It surpassed the Liberal Party in general elections during the early 1920s, forming minority governments under Ramsay MacDonald in 1924 and 1929-1931. The party was in a wartime coalition from 1940 to 1945, after...
politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
.
Early life
McDonald was born in Stockton-on-TeesStockton-on-Tees
Stockton-on-Tees is a market town in north east England. It is the major settlement in the unitary authority and borough of Stockton-on-Tees. For ceremonial purposes, the borough is split between County Durham and North Yorkshire as it also incorporates a number of smaller towns including...
, Co Durham, the daughter of Dr HD McDonald, an Irish
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
protestant minister. The family moved to London and she was educated at East Barnet Grammar School and King's College London
King's College London
King's College London is a public research university located in London, United Kingdom and a constituent college of the federal University of London. King's has a claim to being the third oldest university in England, having been founded by King George IV and the Duke of Wellington in 1829, and...
, where she gained a Master's degree
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in Theology in 1962 and a Ph.D in 1974. She worked variously as a teacher, lecturer, researcher and management consultant. She taught philosophy at the University of Bristol
University of Bristol
The University of Bristol is a public research university located in Bristol, United Kingdom. One of the so-called "red brick" universities, it received its Royal Charter in 1909, although its predecessor institution, University College, Bristol, had been in existence since 1876.The University is...
from 1965-76. She also served as a member of the Financial Services Commission in Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
and was a senior consultant on international regulatory and public policy issues. Her marriage to Richard Whitehouse ended in divorce.
Parliamentary career
McDonald unsuccessfully contested the seat of South GloucestershireSouth Gloucestershire (UK Parliament constituency)
South Gloucestershire was a parliamentary constituency in Gloucestershire. It returned one Member of Parliament to the House of Commons of the Parliament of the United Kingdom....
as the Labour Party candidate at both the February 1974
United Kingdom general election, February 1974
The United Kingdom's general election of February 1974 was held on the 28th of that month. It was the first of two United Kingdom general elections held that year, and the first election since the Second World War not to produce an overall majority in the House of Commons for the winning party,...
and October 1974
United Kingdom general election, October 1974
The United Kingdom general election of October 1974 took place on 10 October 1974 to elect 635 members to the British House of Commons. It was the second general election of that year and resulted in the Labour Party led by Harold Wilson, winning by a tiny majority of 3 seats.The election of...
general elections. She was elected Member of Parliament
Member of Parliament
A Member of Parliament is a representative of the voters to a :parliament. In many countries with bicameral parliaments, the term applies specifically to members of the lower house, as upper houses often have a different title, such as senate, and thus also have different titles for its members,...
for Thurrock
Thurrock (UK Parliament constituency)
Thurrock is a parliamentary constituency represented in the House of Commons of the Parliament of the United Kingdom. It elects one Member of Parliament by the first past the post system of election.- Boundaries :...
in the 1976 by-election
Thurrock by-election, 1976
The Thurrock by-election of 15 July 1976 was held after the death of Labour Member of Parliament Hugh Delargy. Labour held on to the seat in the by-election.-Results:...
following the death of Hugh Delargy
Hugh Delargy
Hugh James Delargy was an Irish British Labour Party politician and MP.He was born in County Antrim.Delargy was educated in England, Paris and Rome and worked as a teacher, journalist, labourer and insurance official...
.
She became Parliamentary Private Secretary
Parliamentary Private Secretary
A Parliamentary Private Secretary is a role given to a United Kingdom Member of Parliament by a senior minister in government or shadow minister to act as their contact for the House of Commons; this role is junior to that of Parliamentary Under-Secretary, which is a ministerial post, salaried by...
to the Chief Secretary to the Treasury
Chief Secretary to the Treasury
The Chief Secretary to the Treasury is the third most senior ministerial position in HM Treasury, after the Prime Minister and the Chancellor of the Exchequer . In recent years, the office holder has usually been given a junior position in the British Cabinet...
, the Rt Hon Joel Barnett (now Lord Barnett) in 1977. She was then Opposition Spokesman on Defence from 1981-1983, and then Opposition Spokesman on Treasury and Economic Affairs from 1983-1987.
At the 1987 general election
United Kingdom general election, 1987
The United Kingdom general election of 1987 was held on 11 June 1987, to elect 650 members to the British House of Commons. The election was the third consecutive election victory for the Conservative Party under the leadership of Margaret Thatcher, who became the first Prime Minister since the 2nd...
she lost Thurrock to the Conservative
Conservative Party (UK)
The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House...
candidate Timothy Janman.
Life after Parliament
McDonald is currently a director of the British Portfolio Trust, Complaints Commissioner for the London Metal ExchangeLondon Metal Exchange
The London Metal Exchange is the futures exchange with the world's largest market in options, and futures contracts on base and other metals. As the LME offers contracts with daily expiry dates of up to three months from trade date, along with longer-dated contracts up to 123 months, it also...
, ICE Futures and Virt-x and a member of International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
's Expert Roster. She was previously a director of the UK Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
(formerly the Securities and Investments Board), a director of the General Insurance Standards Council, a director of Skandia Insurance Co Ltd, a director of the Financial Services Ombudsman Scheme, a director of the Investors Compensation Scheme and of Scottish Provident (until demutualised and sold to Abbey National
Abbey National
Abbey National plc was a UK-based bank and former building society, which latterly traded under the Abbey brand name. It became a wholly owned subsidiary of Grupo Santander of Spain in 2004, and was rebranded as Santander in January 2010, forming Santander UK along with the savings business of the...
in 2001), and a member of the Gibraltar Financial Services Commission. She has undertaken numerous consultancy projects on financial regulation and the development of private pensions for the Asian Development Bank, the IMF, USAID and the British Know-How Fund in Russia, Nepal, Sri Lanka, Indonesia, Ukraine, Bulgaria, Brunei and Moldova.
She was Gwilym Gibbon Fellow at Nuffield College, Oxford
Nuffield College, Oxford
Nuffield College is one of the constituent colleges of the University of Oxford in England. It is an all-graduate college and primarily a research establishment, specialising in the social sciences, particularly economics, politics and sociology. It is a research centre in the social sciences...
and wrote The Future of Whitehall, Weidenfeld and Nicolson, 1992 and is also the author of Parliament at Work, Methuen, 1989 and The Future of Retail Banking in Europe: A View from the Top, with Professor Kevin Keasey
Kevin Keasey
Kevin Keasey is a professor from Leeds University Business School, University of Leeds and Director of the International Institute of Banking and Financial Services . Professor Kevin has held director and non-executive positions at a hi-tech holding company, a fast growth care company, a venture...
, John Wiley & Sons, 2002, and numerous research papers for a variety of clients including Deloitte's and PricewaterhouseCoopers. She is currently a Visiting Fellow, International Institute of Banking & Financial Services, University of Leeds
University of Leeds
The University of Leeds is a British Redbrick university located in the city of Leeds, West Yorkshire, England...
. She also edits the Journal of Financial Regulation & Compliance. In 1998, she was awarded the CBE
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
for services to financial regulation and business.