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Mike Bagguley began his career in insurance before joining a bank on a derivatives trading desk. He held key roles, including senior role in FI Rates, Head of FX and Commodities, and Head of Macro Products. He oversaw numerous projects, including the execution of Barclays’ first client physical oil deals, and integrating Rates, FX and Commodities cross EM and G10. His last role was as Chief Operating Officer of Barclays International.

Today, Mike answers several questions about recent trends in tech and finance, and it’s an honor to get to see his perspective on these topics.

Several companies — Uber, Lyft, Casper, and WeWork, to name a few — have scaled massively and been given substantial valuations, but bleed billions of dollars on a quarterly basis with no path to profitability in sight. Following this intense public scrutiny from investors, do you think the so-called “unicorns” of the future will attempt to achieve market dominance in the same way? If not, do you see a more sustainable path to growth?


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For investment banks, a consolidated cloud-based trade data management service could prove the key not only to much greater cost-efficiency and lower risk in delivering regulatory compliance, but also to unlocking actionable business intelligence about performance gaps and missed market opportunities. Mike Bagguley, former COO of Barclays International and now a board advisor to Inforalgo, urges financial institutions to be bolder in their data-based ambitions.

For wholesale banking institutions, trade reporting might appear to be little more than a painful and costly burden. But what if a consolidated, cloud-based approach to trade reporting could also serve as the basis for unprecedented business analysis and insight?

In retail banking and credit card provision, as indeed in many other consumer-facing industries, organisations already routinely combine transaction records with customer data for deeper analysis. This helps them to spot trends in customer activity, and determine where their most profitable business is coming from. …


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Why do economic commentators, financial markets,and central banks obsess about inflation? Why is there limited wage inflation whilst there is very low unemployment?

In the 1970s, higher oil prices meant the cost of living rose. This was from the direct impact of higher energy bills, and indirect effects as the cost of producing and shipping goods rose. As a result of the higher cost of living, people asked for wage increases to maintain their standard of living. This meant that labour costs rose, pushing the cost of goods and services even higher. …


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Asset management is the broad activity of investing people’s surplus funds (cash) in financial assets. Essentially, it’s managing savings beyond what you might need to call on at short notice. You experience this service directly if you invest in an equity fund or a bond fund, but you also use it via pension savings plans and life insurance products. If you are fortunate to be wealthy enough, there are also securities/broker accounts and private banking products.

Asset management is a vast industry. Around $90 trillion, belonging to both people and corporations, is being managed across the globe, so it’s a significant commercial opportunity. This industry is rapidly changing right now, and will continue to do so, as a result of the current investment environment, evolution of the product set, and evolution of technology. …

Michael Bagguley

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