Susan Rice (banker)

Susan Rice
Born Susan Ilene Wunsch
(1946-03-07) 7 March 1946
Rhode Island, United States
Alma mater Wellesley College
University of Aberdeen
Occupation Banker
Spouse(s) Sir Duncan Rice

Susan Ilene, Lady Rice CBE (née Wunsch; born 7 March 1946) is a Scottish banker and head of the Scottish Fiscal Commission. In 2000 she became the first female leader of a British clearing bank. She is the chair of Scottish Water and a member of the Banking Standards Board.

Early life

Susan Wunsch was born on 7th March 1946 in Rhode Island in the United States.[1]

She read biology and philosophy of science at Wellesley College, Massachusetts, United States, graduating in 1967 with a Bachelor of Arts.[2]

At Wellesley she met Scottish historian Duncan Rice; they married shortly after her graduation and they moved to Scotland together. She then studied philosophy of science at University of Aberdeen, gaining a Master of Letters in 1970.[3] Rice and her husband returned to the United States.

She initially became a medical researcher then an administrator in molecular biology Saybrook College at Yale.[4]

She was the Dean of Saybrook College at Yale 1978–1980.[5][6] In 1981 she moved to upstate New York and she worked as Dean of Students at Colgate University.[2]

Banking

In 1986, she began working for NatWest Bancorp,[2] where she managed a successful community development programme.[7] In 1996, her husband was appointed as Vice-Chancellor at the University of Aberdeen and they moved back to Scotland. She joined the Bank of Scotland in 1997.[2]

In September 2000 she was appointed as chief executive of Lloyds TSB Scotland and so become the first female to lead a British clearing bank.[7][4][8] In May 2008 took on the role of chairman in addition to this.[9] When the Lloyds Banking Group was created by takeover of HBOS that year, Rice was appointed as managing director of Scottish part of the group.[4][10] Rice retired from this position in December 2014.[11]

She became a non-executive director at Scottish and Southern Energy plc (SSE) in 2003, then took the position of senior independent director in 2007.[12]

In 2011 she became the member of the Council of Economic Advisers.[13]

In 2012, Susan Rice became the first woman to be appointed president of the Scottish Council for Development and Industry.[14] In May 2013, she became a non-executive director of Sainsbury's supermarket chain.[15] In March 2015 it was announced that she had been appointed the chair of Scottish Water, taking up the post on 1 June 2015.[16]

She was a member of the court of the Bank of England, first appointed in 2007, reappointed in 2009,[17] serving until June 2014.[18]

She chairs the Chartered Banker Professional Standards Board (CB:PSB),[8] a voluntary initiative supported by nine leading banks in the UK, which was established in October 2011. In April 2015, she was also appointed as a non-practitioner member of the Banking Standards Board.[11]

Cultural roles

She was chair of the Edinburgh International Book Festival from 2001 to October 2015.[19]

In 2008, the Edinburgh Festivals Forum was formed as a commission with strategic development role, appointing Rice as chair.[20] In June 2015, it was announced that she was to become the chair of Scotland's 2020 Climate Group, having been vice-chair of the group since it was formed in 2009.[21]

She is a Regent of the Royal College of Surgeons of Edinburgh.[22]

Honours

In 2002 she was elected an ordinary fellow of the Royal Society of Edinburgh.[3] and the Royal Society of Arts in 2004.[1]

Rice was appointed a Commander of the Order of the British Empire (CBE) for services to banking in the 2005 New Year Honours.[23]

In 2005 she became Prince Charles's Ambassador for Corporate Social Responsibility in Scotland.[7] She received the inaugural Leadership Award at the National Business Awards Scotland 2007.[24]

She has several honorary degrees,[1] including University of Glasgow,[25] a Doctor of Business Administration from Queen Margaret University in 2008.[26]

In November 2013 she received a lifetime achievement award at the Vision in Business for the Environment of Scotland Awards (Vibes).[27]

References

  1. 1 2 3 "People of today: Susan Ilene Rice". Debretts.com. Retrieved 17 April 2016.
  2. 1 2 3 4 Doyle, Margaret (19 September 1999). "Breaking into houses". Irish Independent. Retrieved 17 April 2016.
  3. 1 2 "Outstanding academics and graduates of the University of Aberdeen elected to Fellowship of The Royal Society of Edinburgh" (Press release). University of Aberdeen. 7 March 2002. Retrieved 17 April 2016.
  4. 1 2 3 "Interview: Susan Rice, managing director of the Scottish component of the Lloyds Banking Group". The Scotsman. 19 December 2008. Retrieved 17 April 2016.
  5. ↑ "Alumnae Achievement Awards: All Achievement Award Recipients: Susan Wunsch Rice '67". Wellesley College. Retrieved 17 April 2016.
  6. ↑ "About Saybrook: Saybrook Masters and Deans". Yale College. Retrieved 17 April 2016.
  7. 1 2 3 "Bank on social responsibility Lloyds TSB's Susan Rice says getting involved in community projects can boost the bottom line". The Herald. Glasgow. 23 October 2005. Retrieved 17 April 2016.
  8. 1 2 Purcell, Richard; Hyams, Stephen (4 February 2016). "Braving unchartered waters". The Actuary. Institute and Faculty of Actuaries.
  9. ↑ "'Sensitivity' pledge on bank jobs". BBC News. 19 December 2008.
  10. ↑ "Bank appoints new Scots boss". BBC News. 19 December 2008.
  11. 1 2 Morris, Bridget (2 April 2015). "Controversy as 'insider' Lady Susan Rice appointed to Banking Standards Board". The National. Retrieved 17 April 2016.
  12. ↑ Ransom, Peter (28 October 2013). "SSE director Rice in utilities 'transparency' call". The Scotsman. Retrieved 18 April 2016.
  13. ↑ Gordon, Tom (19 October 2014). "Scots Government's top tax adviser under fire over role at networking event". Sunday Herald. Retrieved 17 April 2016.
  14. ↑ "Scottish independence: Lady Susan Rice among fiscal body nominations". BBC News. 19 May 2014.
  15. ↑ Sharp, Tim (9 May 2013). "Sainsbury's hires Rice following buyout deal". The Herald. Retrieved 17 April 2016.
  16. ↑ "New Chair appointed to the Board of Scottish Water" (Press release). Scottish Government. 27 March 2015. Retrieved 17 April 2016.
  17. ↑ "Lloyds chief Rice among seven directors reappointed to Bank of England court". The Scotsman. 29 May 2009.
  18. ↑ "Non-executive directors to Bank of England's Court appointed by Chancellor" (Press release). UK Government. 21 July 2014. Retrieved 18 April 2016.
  19. ↑ Ferguson, Brian (30 June 2015). "Allan Little to be new Edinburgh book festival chair". The Scotsman.
  20. ↑ "Edinburgh Festivals Forum appoints Susan Rice as Chair". The List. 24 April 2008. Retrieved 18 April 2016.
  21. ↑ "Lady Rice appointed to chair climate change group". The Herald. 5 June 2015. Retrieved 17 April 2016.
  22. ↑ "The College: Council and its Committees: Patron and Court of Regents". Royal College of Surgeons of Edinburgh. Retrieved 17 April 2016.
  23. ↑ "Knighthood for CBI leader Jones". BBC News. 31 December 2004.
  24. ↑ "Rice leads the way as Scots business honours top movers and shakers". The Scotsman. 14 September 2007. Retrieved 18 April 2016.
  25. ↑ "Distinguished figures to be honoured by the University of Glasgow on 20 June 2007" (Press release). University of Glasgow. 18 June 2007. Retrieved 18 April 2016.
  26. ↑ "Honorary Graduates". Queen Margaret University. Retrieved 17 April 2016.
  27. ↑ "Green credentials earn lifetime award". Edinburgh Evening News. 28 November 2013. Retrieved 17 April 2016.
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