Angela Knight
Encyclopedia
Angela Ann Knight is the Chief Executive
of the British Bankers' Association
(BBA). She was formerly a Conservative Party
Member of Parliament
(MP) representing the constituency of Erewash
from 1992–97, and served as the Economic Secretary to the Treasury
from 1995–97.
, Knight went to the Penrhos College
boarding school in Colwyn Bay
, and Sheffield High School. She then went to the University of Bristol
, gaining a BSc
in Chemistry, and became an engineer working for Air Products
, where she became a Product Development Manager for nitrogen. She went on to set up and serve as Chief Executive of Cook & Knight Metallurgical Processors Ltd - a specialist contract heat treatment company treating precision engineering components. She served as a councillor on Sheffield City Council
from 1987-92.
from 1995–97, being responsible for bringing in the £2 coin
. She lost her seat in Parliament to Liz Blackman
of the Labour Party
in 1997.
).
. The BBA took on the role of explaining the financial crisis across the media. As the crisis deepened during 2008, Angela Knight appeared regularly on the media to offer the banking sector’s perspective on the crisis. At a conference in October 2008 she gave the banking industry’s apology for its role in the financial crisis.
The BBA also spoke on behalf of the banks (and one building society) which went to court with the Office of Fair Trading
in 2008 on the fairness of the fees customers paid for exceeding their arranged overdrafts. The legal process ended in the first ruling of the UK’s new Supreme Court
, which found that the OFT’s proposed legal test for “fairness” did not apply. Angela Knight fielded detailed interviews and briefings throughout the process.
In 2011 the BBA sought a judicial review in the UK High Court of the Financial Services Authority
’s approach to customer complaints about payment protection insurance. The High Court found in favour of the FSA, and in May 2011 the BBA confirmed it would not seek leave to appeal.
Banks have also been criticised for failing to provide enough support to businesses throughout the crisis. Angela Knight has led a roadshow across the UK to explain the work of the Better Business Finance initiative, a bank-led project to address these criticisms. The roadshow continues throughout 2011.
On BBC Radio 4's Analysis programme on 7 November 2011, Angela Knight discussed how her role as the head of the banks' trade association had expanded during the financial crisis into a spokesman role: "The fact that I was answering the questions, and I was seen in newspapers, on TV and on the radio, meant that people would come up to me almost as if it was my fault. I was simply trying to explain that in the case of the banking crisis, it wasn't a crisis for all banks, we weren't the only country in it and there were a lot of complex issues underneath."
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the British Bankers' Association
British Bankers' Association
The British Bankers’ Association is the trade association which represents the banks operating within the United Kingdom.-History:It was set up in 1919. In 1972 it accepted foreign banks...
(BBA). She was formerly a Conservative Party
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...
Member of Parliament
Parliament of the United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...
(MP) representing the constituency of Erewash
Erewash (UK Parliament constituency)
Erewash is a county 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:The constituency covers the borough of Erewash....
from 1992–97, and served as the Economic Secretary to the Treasury
Economic Secretary to the Treasury
The Economic Secretary to the Treasury is the fifth most senior ministerial post in the UK Treasury, after the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the Paymaster-General and the Financial Secretary...
from 1995–97.
Early life
Born in SheffieldSheffield
Sheffield is a city and metropolitan borough of South Yorkshire, England. Its name derives from the River Sheaf, which runs through the city. Historically a part of the West Riding of Yorkshire, and with some of its southern suburbs annexed from Derbyshire, the city has grown from its largely...
, Knight went to the Penrhos College
Rydal Penrhos
Rydal Penrhos is a private co-educational boarding school in Colwyn Bay, North Wales. It is located on multiple sites around the town including a site in the neighbouring village of Rhos-on-Sea where it keeps its watersports equipment for easy access to the beach.The school, as it exists today,...
boarding school in Colwyn Bay
Colwyn Bay
- Demography :Prior to local government reorganisation on 1 April 1974 Colwyn Bay was a municipal borough with a population of c.25,000, but in 1974 this designation disappeared leaving five separate parishes, known as communities in Wales, of which the one bearing the name Colwyn Bay encompassed...
, and Sheffield High School. She then went to 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...
, gaining a BSc
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
in Chemistry, and became an engineer working for Air Products
Air Products & Chemicals
Air Products and Chemicals, Inc. is an international corporation whose principal business is selling gases and chemicals for industrial uses. Air Products' headquarters is in Allentown, Pennsylvania, in the Lehigh Valley region of Pennsylvania, in the United States. Air Products is the Lehigh...
, where she became a Product Development Manager for nitrogen. She went on to set up and serve as Chief Executive of Cook & Knight Metallurgical Processors Ltd - a specialist contract heat treatment company treating precision engineering components. She served as a councillor on Sheffield City Council
Sheffield City Council
Sheffield City Council is the city council for the metropolitan borough of Sheffield in South Yorkshire, England. It consists of 84 councillors, elected to represent 28 wards, each with three councillors...
from 1987-92.
Parliamentary career
Knight entered Parliament in 1992 as MP for Erewash. She was Economic Secretary to the TreasuryEconomic Secretary to the Treasury
The Economic Secretary to the Treasury is the fifth most senior ministerial post in the UK Treasury, after the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the Paymaster-General and the Financial Secretary...
from 1995–97, being responsible for bringing in the £2 coin
British Two Pound coin
The British two pound coin was first issued as a commemorative coin in 1986 to celebrate the Commonwealth Games in Scotland. Six further commemorative issues followed between 1989 and 1996...
. She lost her seat in Parliament to Liz Blackman
Liz Blackman
Elizabeth Marion "Liz" Blackman is a British Labour Party politician, who was the Member of Parliament for Erewash from 1997 to 2010. She served as a Government Whip from 2007-08.-Early life:...
of the 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...
in 1997.
Later career
Knight became Chief Executive of APCIMS (the Association of Private Client Investment Managers and Stockbrokers) in September 1997. In April 2007, she became the Chief Executive of the BBA (British Bankers' AssociationBritish Bankers' Association
The British Bankers’ Association is the trade association which represents the banks operating within the United Kingdom.-History:It was set up in 1919. In 1972 it accepted foreign banks...
).
Controversy
The first signs of the global financial crisis were appearing before Angela Knight’s arrival at the BBA, but within months banks hit the UK headlines with the run on Northern RockNorthern Rock
Northern Rock plc is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for...
. The BBA took on the role of explaining the financial crisis across the media. As the crisis deepened during 2008, Angela Knight appeared regularly on the media to offer the banking sector’s perspective on the crisis. At a conference in October 2008 she gave the banking industry’s apology for its role in the financial crisis.
The BBA also spoke on behalf of the banks (and one building society) which went to court with the Office of Fair Trading
Office of Fair Trading
The Office of Fair Trading is a not-for-profit and non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforces both consumer protection and competition law, acting as the UK's economic regulator...
in 2008 on the fairness of the fees customers paid for exceeding their arranged overdrafts. The legal process ended in the first ruling of the UK’s new Supreme Court
Supreme Court of the United Kingdom
The Supreme Court of the United Kingdom is the supreme court in all matters under English law, Northern Ireland law and Scottish civil law. It is the court of last resort and highest appellate court in the United Kingdom; however the High Court of Justiciary remains the supreme court for criminal...
, which found that the OFT’s proposed legal test for “fairness” did not apply. Angela Knight fielded detailed interviews and briefings throughout the process.
In 2011 the BBA sought a judicial review in the UK High Court of the 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...
’s approach to customer complaints about payment protection insurance. The High Court found in favour of the FSA, and in May 2011 the BBA confirmed it would not seek leave to appeal.
Banks have also been criticised for failing to provide enough support to businesses throughout the crisis. Angela Knight has led a roadshow across the UK to explain the work of the Better Business Finance initiative, a bank-led project to address these criticisms. The roadshow continues throughout 2011.
On BBC Radio 4's Analysis programme on 7 November 2011, Angela Knight discussed how her role as the head of the banks' trade association had expanded during the financial crisis into a spokesman role: "The fact that I was answering the questions, and I was seen in newspapers, on TV and on the radio, meant that people would come up to me almost as if it was my fault. I was simply trying to explain that in the case of the banking crisis, it wasn't a crisis for all banks, we weren't the only country in it and there were a lot of complex issues underneath."