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Gwendoline Mary Batchelor FCT passed away quietly on June 13th. She had been unwell for some time. She was 75 having been born on 17 January 1948 in Glasgow, one of identical twins. Gwen attended Glasgow university and obtained a starred first in economics and statistics. She also met and married her husband Roy, also a distinguished economist.
Gwen was a member of the ACT for nearly 40 years, making a significant contribution to the development of the profession, including through her work on the Programme Committee, which she chaired in the early 1990s, and as a member of Council at around the same time. During her tenure as chair of the Programme Committee attendees to the Annual Dinner surpassed 1,000, requiring a move from the Brewery to the Grosvenor House, where it still takes place today.
Gwen started work at the London Business School doing research for, among others, Terry now Lord Burns. She moved to the civil service doing work inter alia on the economic justification for the first jubilee line. It wasn’t justified and only became so when extended to Canary Wharf when it ran via Green Park and Westminster. She moved to British steel where, becoming qualified as an accountant, she worked on economic forecasting. It was there that she worked with Bill McLuskie Hon FCT, a founding member of the ACT, and who had a significant influence on Gwen’s treasury career.
Gwen then transferred to Price Waterhouse as part of their treasury consulting team. Brilliant on treasury matters, Gwen was not the salesperson and despite being proposed for partner did not make the grade on that account. Gwen joined Abbey National Treasury Services in the early 1990s as finance director playing a key role in the development of the business. Her skills in finance, risk management, economic forecasting, regulatory interface and statistics were all utilised as the business grew rapidly and successfully. After retiring from Abbey in the early 2000s she became a member of the World Trader's company, a non-executive director of the Office for National Statistics and a Justice of the Peace. As age came upon her, she had to retire as a JP which was a loss to the community and a disappointment to her.
She had no close family in London and planned to retire to Glasgow to be with twin sister Pam. She had bought a bungalow and her god daughter was there too. Health did not permit that in life but hopefully Gwen can now return to the city of her birth.
Gwen will be sorely missed by her friends, former colleagues and the ACT.
Gareth Jones
Chair of ACT Council 1996 to 1997
Charles Frederick Melville Rawlinson, MBE, died on 21 May 2023, aged 89. He joined the ACT in 1985 as a Fellow and was a member for nearly 40 years. He was awarded an MBE in 2012. We extend our deepest sympathy to his family. Read his obituary on Peerage News.
Dr Anthony (Tony) Watson, CBE, passed away peacefully at home on 6 March 2023, aged 77. He was awarded Honorary Fellowship of the ACT in 2019 as part of the ACT's 40th anniversary celebrations. This was in recognition of his support for the treasury profession and his contribution to the ACT's Advisory Board, which he was a part of for 13 years.
Noel was one of the founding members of the ACT and a member of the London Treasurer's Club. He held positions both in the United Kingdom and in the United States as Finance Director of Burroughs Machines, Director of International Taxes, and Director of International Treasury Operations. We were very sad to hear of his passing on 6 February 2023.
Honorary Fellow. Paul was a former Labour minister, chair of Guardian Media Group and a strong supporter of the ACT. Regarded as an influential figure in both the square mile and politics for his time advising the former prime minster Gordon Brown on the historic bailout of the British banking system, Baron Myners, of Truro in the county of Cornwall, passed away on 16 January 2022. Read his obituary from The Guardian.
Founding Member and Honorary Fellow. Bill was one of the ‘founding members’ of the ACT and was present at the inaugural meeting in January 1979 which was instrumental in the formation of the ACT. Read more.
John passed away peacefully at home on 24 December 2020. He was a wonderful husband, devoted father, grandfather and a good friend to many.
John became involved with the ACT having been appointed the first Group Treasurer of Guinness in the mid-1970s. He retired in 1987 after 30 years with what is now Diageo, but he remained active with all thing’s treasury, attending events and following all the latest trends, as well as being a former Chair of the Society of International Treasurers before its dissolution in 2007.
Howard passed away peacefully on 24 May 2020 at Langham Court Care Home in Hindhead, Surrey, England, just two weeks short of his ninety second birthday.
As one of the founding members of the ACT, he joined in 10 May 1979. He was on the first Council in 1979 through to 1983 and he was Vice President of Council from 1982-83. Daniel Hodson, who was also one of the founding members remembers that he was very supportive and full of advice. He had pretty robust views, which were always sensible and to the point. He was also instrumental in the first ACT event which was held on the 17 October 1979 at Plaisterer’s Hall. A quote from Norman Tribble in the ACT publication, The First XV, by Andreas Prindl says: he turned up at a Council meeting with a cheque for £5,000 for sponsorship in his pocket from Shell Treasury’s petty cash. The sponsorship was unexpected and the Council was heartened by it.
Howard worked primarily for the Royal Dutch Shell Group in London, rising to the position of Group Treasurer before moving to Calgary in 1983 when he became Chairman and CEO of Dome Petroleum. It was a challenging and turbulent five years for him and his colleagues, but a role he relished. Even after he moved to Canada in 1983, he remained a lifelong member and supporter of the ACT.
The ACT would like pass on our condolences to his family and friends.
Gaynor was a strong supporter of ACT activities and encouraged many members of her team to join and participate.
Fellow. The Association of Corporate Treasurers was formed in 1979 and it wasn’t long before Derek became one of a small group of pathfinders who really invented the profession of treasury.
Fellow. David's first job in treasury was at National Power. After Cable & Wireless and EMAP, David moved to the interim market where he had some diverse locations taking him to Sierra Leone for African Minerals and UK locations at Boots, Mondelez (Kraft Foods), John Lewis, DS Smith and Serco.
Founding Member and Honorary Fellow. Peter was one of the ACT ‘Pioneers’ and was instrumental in the formation of the ACT in 1979 and the early development of the treasury profession. He was a member of the very first Council and Chairman of Council from 1982-84.
Fellow. Anthony played a significant role in the development of the ACT and was a tremendous advocate for the treasury profession. A member from 1984, he contributed to several committees and working groups, including chairing the Editorial Committee between 1994 and 1997.
Honorary Fellow. Alastair was an Adviser to the Governor of the Bank of England and an Executive Director of the Bank. He was a strong friend and supporter of the ACT. With his commitment to financial stability he was a valuable sounding-board and on occasion a conduit for the views the ACT held on issues affecting corporate life in the UK and elsewhere. Alastair was a member of the ACT's Advisory Board and we are very extremely grateful for his support and contribution.
Honorary Fellow. Rupert was a huge supporter of the ACT. His contribution was immense and he provided wise counsel for more than 25 years, most recently with the ACT's application for a Royal Charter (which was granted in 2013). Even in his retirement Rupert remained very active, and it was only in Autumn 2012 that he finally retired from active membership of the ACT's Policy & Technical committee. The ACT were deeply saddened by his passing, but we were touched that he chose to spend part of his life enriching ours.
The ACT's First Director General and Honorary Fellow. Gerry joined the ACT’s governing council soon after its formation in 1979. He held subsequent roles included that of President and Director General.
Honorary Life President. If there was one man who could claim credit for the creation and establishment of The Association of Corporate Treasurers it was Norman Tribble. The treasury function began to emerge as an important area of corporate activity in the UK in the 1970s although it had for a long time had a position of considerable standing in US companies – and indeed some of the largest UK companies such as Shell, BP, ICI and Unilever.
