Honours are decided and announced by the Cabinet Office twice a year: at New Year and on the Queen's official birthday in June.
They are then presented to recipients by members of the Royal Family throughout the year at ceremonies known as investitures.
From prestigious awards such as a CBE for former Financial Conduct Authority boss Christopher Woolard, to a knighthood for former pensions minister Steve Webb, Her Majesty the Queen and members of the royal family have given gongs to many in our industry.
She went on to make all of the staff she met feel very proud and very privileged to have had time with her.Sir Sandy Crombie, former chief executive of Standard LifeSome of the well-known individuals to have received awards include Hermes Investment Management chief executive officer Saker Nusseibeh who was given a CBE, and Charles Stanley chief global strategist John Redwood, who was knighted.
The former chief executive of the National Employment Savings Trust Tim Jones was also named on the New Year Honours list for 2016 for his services to the pensions industry and pension provision, while current Nest chief executive Helen Dean is also an OBE.
Dame Linda Homer who was chief executive for HM Revenue and Customs was also invested at Buckingham Palace.
Moving further back, in 2009, Sir Sandy Crombie, former chief executive of Standard Life, received a knighthood for services to the insurance industry and was pleased to receive it from the Queen herself.
Crombie told FTAdviser: “Apart from receiving the knighthood from the Queen at Holyrood and a few times in a receiving line, none of which will mean too much to anyone else, my main memory of the Queen was when she came for the official opening of Standard Life’s new offices in Tanfield in Edinburgh in 1992.
“It was a very wet day and the Queen’s expression on arrival seemed to reflect both the weather and the fact that she was faced by yet another line of men in suits.”
He added: “Her expression, and I guess her mood, seemed to change dramatically for the better when she was presented with a bouquet of flowers, along with the explanation that the flowers had been chosen to represent the various countries in which Standard Life did business - Scotland, England, Ireland, Wales and Canada.
“It was a small thing, but she was animated in conversation and obviously appreciated it and I have to say she went on to make all of the staff she met feel very proud and very privileged to have had time with her.”
FTAdviser has combined the below list to outline some of the individuals recognised by the Queen across the industry in the past ten years.
2022
Field, who served as an MP for 40 years and is now a crossbench peer, was made a member of the Order of the Companions of Honour, joining the likes of Sir Elton John, JK Rowling and Sir Paul McCartney.
The Order of the Companions of Honour is an award given to people who have made a significant contribution to the arts, science, medicine or the government over a long period of time.
Field was given the award for his “lifetime of public service”.
In the same year, Nigel Wilson was awarded a knighthood for services to the finance industry and regional development. Wilson is the chief executive of Legal and General, and under his tenure the company has grown to be the UK’s first £1tn investment manager.
Wilson is also a veteran middle-distance athletics champion, and provides leadership to many younger amateur club-level athletes.
2021
In 2021, former interim boss of the Financial Conduct Authority, Christopher Woolard, was awarded a CBE for his services to financial regulation.
Woolard stepped into the role of interim chief executive at the City watchdog when Andrew Bailey left the regulator to join the Bank of England in March 2020.
He temporarily took over the top spot from his role as executive director of strategy and competition at the regulator.
He led the FCA's response to the first wave of the coronavirus pandemic, which saw the regulator postpone non-urgent work and introduce temporary lifelines for mortgage borrowers and credit consumers.
In the year, Bridget McIntyre, a former UK chief executive at RSA and non-executive director of newly launched retirement income adviser Chancery Lane, was awarded her MBE for services to women.
She launched her latest venture with one of Nutmeg’s co-founders last July, but has spent the last 11 years growing her own social enterprise.
Called ‘Dream On’, the Suffolk-based community interest company focuses on improving the lives of women, and works in tandem with its linked charity, Blossom.
2020
Throughout the year of the pandemic, there were a few recognitions within the industry, specifically Tracy Vegro, chief executive at The Chartered Institute for Securities & Investment.
Vegro, who was appointed as CEO in June and joined from the Solicitors Regulation Authority where she was the executive director for strategy and innovation.
Prior to joining the SRA, Vegro was executive director, strategy and resources at the Financial Reporting Council, which is the regulator of accounting, audit and corporate governance.
She was the FRC’s diversity champion and led on a number of initiatives aimed at boosting diversity on FTSE boards. Vegro was also awarded an OBE in the 2020 New Year Honours list for services to business and diversity.
Elsewhere, Ross McEwan also featured on the 2020 New Year's Honours list, alongside Citizens' Advice's Gillian Guy, who was made a Dame, and Nick Cann, who received the British Empire Medal.
The former chief executive of the Royal Bank of Scotland left his position at the predominately government-owned bank after overseeing its return to profit for the first time in a decade.
McEwan, who is now chief executive at National Australia Bank, was recognised on the Honours list and made a Commander of the British Empire (CBE) for services to the financial sector.
Other names also included Hermes Investment Management CEO Saker Nusseibeh for services to responsible business and to the financial sector.
2019
John Redwood received a knighthood in the New Year’s Honours list 2019, for political and public service.
The chief global strategist for Charles Stanley and Conservative Party MP was among 20 others to receive a knighthood in the list.
Redwood is a long-time advocate of the UK leaving the European Union and urged the government to increase public spending to protect the economy from the consequences of Brexit.
Former Virgin Money chief executive Jayne-Anne Gadhia received a Damehood for her services to financial services and women in the financial industry.
Gadhia advised on the recommendations included in HM Treasury's Women in Finance Charter, introduced in 2016.
The charter asks firms to set internal targets for gender diversity within senior management, in an effort to change the representation of women in the financial services industry.
James Leigh-Pemberton, chairman of UK Financial Investments, also received a knighthood for services to financial services, British industry and government.
London Stock Exchange chairman Donald Brydon received a knighthood for services to business and charity and HM Revenue and Customs chief executive Jonathan Thompson received an Order of the Bath for public service.
Pension leaders made the 2019 list and included the Pensions Advisory chief executive Michelle Cracknell who received a CBE, alongside Pensions Regulator former chief executive Lesley Titcomb, both for services to the pensions industry.
Other awards recognised Thomas Blomfield, co-founder and chief executive of Monzo with an OBE, for his services to improving competition and financial inclusion in the banking sector.
Nationwide Building Society chairman David Lawton and National Savings and Investments, and lately treasury accountant for HM Treasury Rodney Norman, both received CBEs with one for services to financial services and the NHS, and the latter for services to taxpayers.
2018
In 2018, Michael Driver, chief financial officer of the Ministry of Justice and head of government finance at HM Treasury was appointed Companion of the Order of the Bath for public service.
Raymond Long had a similar appointment, for services to government in the public sector. Long was a programme director in the DWP’s digital group.
Douglas Flint, group chairperson of HSBC at the time, was knighted in 2018. He is now chairperson of fund house Abrdn.
2017
In the 2017 New Year’s Honours list, former pensions minister Steve Webb was knighted for political and public service.
Webb oversaw the introduction of pensions freedoms under the coalition government between the Liberal Democrats and the Conservatives from 2010 to 2015.
He also saw a raft of other changes go through with regard to pensions, including the introduction of both auto-enrolment and the state pension triple lock.
Elsewhere, Charles Counsell, executive director of auto-enrolment at The Pensions Regulator, was awarded an Order of the British Empire (OBE) for his services to workplace pension reform.
Angela Macdonald and William Wallace, directors at the DWP, both received CBEs for services to welfare reform.
2016
Former chief executive of the National Employment Savings Trust, Tim Jones, was given a CBE in the 2016 list, for contributions to the pensions industry.
At the time, Jones said being awarded the CBE was “wonderful”.
“Things like Nest involve a huge effort from many people across a number of organisations, so I hope the award is seen as a recognition of all the great things all those people did to design, procure, build, launch and grow Nest to its current state,” he said.
Other appointments that year include Linda Homer, chief executive of HM Revenue and Customs, who was awarded a dame commander of the order of the bath.
In 2016, Homer stepped down after more than four years in the role.
She joined HMRC in January 2012 and led the agency through two spending reviews but has also faced questions about tax paid by big corporations and her body’s customer service levels.
2015
Several leading women from the financial services industry made the new year honours list for 2015.
The list saw HM Treasury director Allison Cottrell made a companion of the order of the Bath for services to financial services consumers.
Among those named as commanders of the order of the British empire were Elizabeth Corley, chief executive of Allianz Global Investors and Aberdeen Asset Management’s chief investment officer Anne Richards.
Citizens Advice boss Gillian Guy and Joanne Perez, co-head of the policy and markets team for the Debt Management Office were also recognised, while Leslie Hughes was made an officer of the order of the British empire for services to the insurance industry and to the community in Northern Ireland.
2014
Peter Hargreaves was awarded a CBE for services to business innovation, financial services and the city of Bristol in the New Year Honour’s list for 2014.
Hargreaves co-founded broker Hargreaves Lansdown in 1981, and at the time of his gong, employed 700 people and managed £35bn, growing to £132bn earlier this year.
Hargreaves stepped down from the company’s board in 2015, and has since set up Blue Whale Capital.
Ros Altmann, now a life peer, was awarded a CBE in 2014 for services to pensioners and pension provision.
2013
In 2013, now-disgraced fund manager Neil Woodford was awarded a CBE for services to the economy.
Woodford was working for Invesco at the time, however left the company shortly after to set up his own company, Woodford Investment Management.
Woodford is now infamous in the industry for the turmoil following the closure of the Woodford Equity Income Fund, which had struggled with redeeming redemption requests in 2019.
In October that year, Woodford was fired by Link Fund Solutions, the corporate authorised director of the fund, and Woodford Investment Management was closed soon after.
Former chief executive of the FSA, Hector Sants, was knighted in 2013, for his services to financial services and regulation.
In January 2013, Sir Hector took his first role since leaving the regulator when he was appointed head of compliance and government and regulatory relations with Barclays, which had been fined £59.5m by the FSA for manipulating Libor.
Just 11 months into the role, he stepped down in November, citing stress.
2012
Sir George Iacobescu was knighted in 2012 for services to charity, community and the financial services industry. He is chairman of the Canary Wharf Group, having joined the company in 1988.
Iacobescu, originally from Romania, is also a founding contributor and co-chairman of Teach First, a trustee of the British Museum, and a vice patron of the Royal British Society of Sculptors.
A number of DWP employees were given honours, including a MBE for Phyllis Close and Marika Fawcett, executive directors of the body.
sonia.rach@ft.com and sally.hickey@ft.com
