Philip Hampton
Encyclopedia
Sir Philip Roy Hampton is the chairman of the Royal Bank of Scotland
. Originally he joined RBS as the deputy chairman on the 19th of January 2009 and was promoted to chairman on the 3rd of February the same year. He has previously held the chairman role at J Sainsbury
plc, parent company of the Sainsbury's chain of supermarkets, and the role of group finance director of a number of blue chip companies including
Lloyds Banking Group
plc, BT Group
plc, BG Group
plc, British Gas plc
and British Steel
plc.
, Oxford University. He joined Coopers & Lybrand in 1975, qualified as a chartered accountant
in 1978, and then trained as an auditor, working in London
and West Africa
. He took an MBA from INSEAD
from 1980 to 1981, and returned to join Lazard
s investment bank for nine years. Working on mergers, acquisitions, business restructurings and capital markets; in 1986 he was seconded to Lazard Freres, New York
, and also worked extensively with Lazard Freres in Paris
.
Since then Hampton has been:
Hampton was appointed Chairman of J Sainsbury
plc on 19 July 2004 to replace Sir Peter Davis
. His appointment came at a significant time for the retailer; Davis had been forced out as Chairman by shareholders due to an extremely generous bonus package despite his dubious performance as Chairman and previously as CEO, another shareholder revolt in February 2004 had caused the company to abandon the appointment of Sir Ian Prosser
as Chairman and Justin King
had been appointed Chief Executive in March 2004. Hampton was described by then BBC Business Editor Jeff Randall as "a well-respected City figure" and a "safe pair of hands". Under the King/Hampton leadership Sainsbury's regained some market share and in June 2006 reported its highest sales increase in four years.
In the 2004 Budget Philip Hampton was asked to lead a review of regulatory inspection and enforcement. This review produced the Hampton Report, which led to the Regulatory Enforcement and Sanctions Act 2008
. On November 3, 2008, Philip Hampton was appointed as chairman of UK Financial Investments Limited
, the firm set up to manage the UK government's shareholding in banks subscribing to its recapitalisation fund.
Hampton was knighted in the New Year Honours 2007
.
warned their major shareholder, the British public, that they would resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm. The matter received heavy criticism because it followed a £850bn taxpayer bailout of the banking system.
Royal Bank of Scotland
The Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
. Originally he joined RBS as the deputy chairman on the 19th of January 2009 and was promoted to chairman on the 3rd of February the same year. He has previously held the chairman role at J Sainsbury
J Sainsbury
J. Sainsbury plc is the parent company of Sainsbury's Supermarkets Ltd, commonly known as Sainsbury's, the third largest chain of supermarkets in the United Kingdom with a share of the UK supermarket sector of 16.5%....
plc, parent company of the Sainsbury's chain of supermarkets, and the role of group finance director of a number of blue chip companies including
Lloyds Banking Group
Lloyds Banking Group
Lloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at February 2010, HM Treasury held a 41% shareholding through UK Financial Investments Limited . The Group headquarters is located at 25 Gresham Street in London, with...
plc, BT Group
BT Group
BT Group plc is a global telecommunications services company headquartered in London, United Kingdom. It is one of the largest telecommunications services companies in the world and has operations in more than 170 countries. Through its BT Global Services division it is a major supplier of...
plc, BG Group
BG Group
BG Group plc is a global oil and gas company headquartered in Reading, United Kingdom. It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day. It has a major Liquefied Natural Gas ...
plc, British Gas plc
British Gas plc
British Gas plc was formerly the monopoly gas supplier and is a private sector in the United Kingdom.- History :In the early 1900s the gas market in the United Kingdom was mainly run by county councils and small private firms...
and British Steel
British Steel
British Steel was a major British steel producer. It originated as a nationalised industry, the British Steel Corporation , formed in 1967. This was converted to a public limited company, British Steel PLC, and privatised in 1988. It was once a constituent of the FTSE 100 Index...
plc.
Biography
Hampton gained an MA in English from Lincoln CollegeLincoln College, Oxford
Lincoln College is one of the constituent colleges of the University of Oxford in the United Kingdom. It is situated on Turl Street in central Oxford, backing onto Brasenose College and adjacent to Exeter College...
, Oxford University. He joined Coopers & Lybrand in 1975, qualified as a chartered accountant
Chartered Accountant
Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
in 1978, and then trained as an auditor, working in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and West Africa
West Africa
West Africa or Western Africa is the westernmost region of the African continent. Geopolitically, the UN definition of Western Africa includes the following 16 countries and an area of approximately 5 million square km:-Flags of West Africa:...
. He took an MBA from INSEAD
INSEAD
INSEAD is an international graduate business school and research institution. It has campuses in Europe , Asia , and the Middle East , as well as a research center in Israel...
from 1980 to 1981, and returned to join Lazard
Lazard
Lazard Ltd is the parent company of Lazard Group LLC, a global, independent investment bank with approximately 2,300 employees in 42 cities across 27 countries throughout Europe, North America, Asia, Australia, Central and South America...
s investment bank for nine years. Working on mergers, acquisitions, business restructurings and capital markets; in 1986 he was seconded to Lazard Freres, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, and also worked extensively with Lazard Freres in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
.
Since then Hampton has been:
- British SteelBritish SteelBritish Steel was a major British steel producer. It originated as a nationalised industry, the British Steel Corporation , formed in 1967. This was converted to a public limited company, British Steel PLC, and privatised in 1988. It was once a constituent of the FTSE 100 Index...
- Group Finance Director from 1990 to 1995. The company were a former client at Lazards - British Gas plcBritish Gas plcBritish Gas plc was formerly the monopoly gas supplier and is a private sector in the United Kingdom.- History :In the early 1900s the gas market in the United Kingdom was mainly run by county councils and small private firms...
- Group Finance Director from 1995 to 1997. Oversaw double-demerger of CentricaCentricaCentrica plc is a multinational utility company, based in the United Kingdom but also with interests in North America. Centrica is the largest supplier of gas to domestic customers in the UK, and one of the largest suppliers of electricity, operating under the trading names "Scottish Gas" in...
and then Lattice GroupLattice GroupLattice Group plc was a leading British gas transmission business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.-History:... - BG GroupBG GroupBG Group plc is a global oil and gas company headquartered in Reading, United Kingdom. It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day. It has a major Liquefied Natural Gas ...
- Group Finance Director from 1997 to 2000 - British Telecom - Group Finance Director from 2000 to 2002
- Lloyds TSBLloyds TSBLloyds TSB Bank Plc is a retail bank in the United Kingdom. It was established in 1995 by the merger of Lloyds Bank, established in Birmingham, England in 1765 and traditionally considered one of the Big Four clearing banks, with the TSB Group which traces its origins to 1810...
- Group Finance Director from 2002 to 2004
Hampton was appointed Chairman of J Sainsbury
J Sainsbury
J. Sainsbury plc is the parent company of Sainsbury's Supermarkets Ltd, commonly known as Sainsbury's, the third largest chain of supermarkets in the United Kingdom with a share of the UK supermarket sector of 16.5%....
plc on 19 July 2004 to replace Sir Peter Davis
Sir Peter Davis
Sir Peter Davis is a British businessman, who was until June 2004, the chairman of J Sainsbury plc, which operates the UK supermarket chain Sainsbury's. He worked for J Sainsbury from 1976 to 1986 and was responsible for all buying and marketing operations.He was chief executive of Prudential plc...
. His appointment came at a significant time for the retailer; Davis had been forced out as Chairman by shareholders due to an extremely generous bonus package despite his dubious performance as Chairman and previously as CEO, another shareholder revolt in February 2004 had caused the company to abandon the appointment of Sir Ian Prosser
Ian Prosser
Sir Ian Prosser is a UK businessman.He is Chairman of The Navy Army & Airforce Institutes,Chaiman JKX Oil & Gas, Chairman BP Pension Trustees PLC and a non-executive director of Sara Lee Corporation based in Chicago....
as Chairman and Justin King
Justin King (businessman)
Justin Matthew King, CBE is a British businessman, who is the CEO of J Sainsbury plc, parent company of the supermarket chain Sainsbury's.King was previously Director of Food at Marks and Spencer and has held senior positions at Asda...
had been appointed Chief Executive in March 2004. Hampton was described by then BBC Business Editor Jeff Randall as "a well-respected City figure" and a "safe pair of hands". Under the King/Hampton leadership Sainsbury's regained some market share and in June 2006 reported its highest sales increase in four years.
In the 2004 Budget Philip Hampton was asked to lead a review of regulatory inspection and enforcement. This review produced the Hampton Report, which led to the Regulatory Enforcement and Sanctions Act 2008
Regulatory Enforcement and Sanctions Act 2008
The Regulatory Enforcement and Sanctions Act 2008 is an Act of the Parliament of the United Kingdom which is designed to provide for more consistent enforcement of regulations across local authority boundaries, better co-ordination between local authorities and central government, and more...
. On November 3, 2008, Philip Hampton was appointed as chairman of UK Financial Investments Limited
UK Financial Investments Limited
UK Financial Investments Ltd is a company set up in November 2008 by the UK Government to manage its shareholding in banks subscribing to its recapitalisation fund. They include Lloyds Banking Group , Royal Bank of Scotland Group and Northern Rock...
, the firm set up to manage the UK government's shareholding in banks subscribing to its recapitalisation fund.
Hampton was knighted in the New Year Honours 2007
New Year Honours 2007
The New Year Honours 2007 for the Commonwealth Realms were announced on 30 December 2006, to celebrate the year passed and mark the beginning of 2007....
.
The RBS Board Revolt
In December, 2009, the board of RBSRBS
-Banking:* Royal Bank of Scotland - Scottish high street bank** Royal Bank of Scotland Group - A majority British state owned Scottish holding company, which owns Royal Bank of Scotland, NatWest and others-Defence:...
warned their major shareholder, the British public, that they would resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm. The matter received heavy criticism because it followed a £850bn taxpayer bailout of the banking system.
Personal life
A keen sailor, the father of two teenage sons has taken part in the ARC transatlantic yacht race.External links
- HAMPTON, Philip International Who's Who. accessed September 3, 2006.