NRI Sushil Wadhwani on UK Chancellor’s
new Economic Advisory Council
Los Angeles, Oct 18, 2022
NRIpress.club/Ramesh/ A.Gary Singh
Sushil Wadhwani, an NRI investment expert is among four financial specialists appointed to a new Economic Advisory Council by UK Chancellor Jeremy Hunt to meet regularly and act as a consultative forum to offer independent advice to the government.
Wadhwani, who heads up PGIM Wadhwani asset management firm as Chief Investment Officer and has over 30 years of investment experience, has been a former member of the Bank of England’s independent Monetary Policy Committee (MPC).
- Sushil Baldev Wadhwani (born 7 December 1959).
- He was a member of the Bank of England's Monetary Policy Committee from June 1999 to May 2002.
- He did his schooling from Mayo College, Ajmer, and his further education at Stanmore Sixth Form College.
- He is also the founder and chief executive officer of Wadhwani Asset Management.
Wadhwani join Gertjan Vlieghe of Element Capital, who has also been a member of the MPC, and Rupert Harrison of BlackRock and Karen Ward of JP Morgan Asset Management, who have experience of working with past UK finance ministers.
The announcement comes as the Chancellor, parachuted in last week by British Prime Minister Liz Truss to replace sacked Kwasi Kwarteng, committed to do “whatever is necessary for economic stability” as he reversed almost all of his predecessor’s mini-budget tax cuts in an emergency fiscal statement
The UK Treasury said all members of the new council, to be expanded in due course, will be attending in an independent capacity and have been chosen for their “personal knowledge and expertise”, as relevant to advising the government on the UK economy.
In his Commons statement on Monday, Jeremy Hunt also indicated more potential U-turns as he took questions from MPs, saying he was “not against the principle” of windfall taxes on highly profitable energy giants – something Truss repeatedly ruled out during her leadership campaign.