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Howard Davies

Howard Davies

Writing for PS since 2009
92 commentaries

Howard Davies, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), is Chairman of NatWest Group. He was Director of the London School of Economics (2003-11) and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry.

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  1. Can Global Banking Rules Survive in a Fractured World?
    davies93_ Harold CunninghamGetty Images_BIS Harold Cunningham/Getty Images

    Can Global Banking Rules Survive in a Fractured World?

    Mar 4, 2025 Howard Davies warns that changes in US foreign policy jeopardize efforts to create a common regulatory framework.

  2. Are Global Banking Rules Finished?
    davies92_JonathanWilsonGettyImages_bankofengland Jonathan Wilson/Getty Images

    Are Global Banking Rules Finished?

    Nov 26, 2024 Howard Davies wonders if the Basel Committee’s recommendations on minimum capital requirements will ever be implemented now.

  3. The Missing Ingredient in European Competitiveness
    davies91_Dursun AydemirAnadolu via Getty Images_draghi Dursun Aydemir/Anadolu via Getty Images

    The Missing Ingredient in European Competitiveness

    Sep 26, 2024 Howard Davies thinks the bloc's economic future depends heavily on its ability to achieve capital-market integration.

  4. Is Private Credit Becoming the Public’s Problem?
    davies90_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_garygensler Andrew Caballero-Reynolds/AFP via Getty Images

    Is Private Credit Becoming the Public’s Problem?

    Jun 19, 2024 Howard Davies considers whether, and in what manner, regulators should respond to the industry's explosive growth.

  5. Are Global Capital Rules Possible?
    davies89_Liu JieXinhua via Getty Images_michaelbarr Liu Jie/Xinhua via Getty Images

    Are Global Capital Rules Possible?

    Mar 29, 2024 Howard Davies thinks major Western jurisdictions' institutional differences could sink standardization efforts.

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  1. nye267_SAUL LOEBAFP via Getty Images_USflagcapitol Saul Loeb/AFP via Getty Images

    The Future of World Order

    Joseph S. Nye, Jr. considers whether US President Donald Trump's second presidency represents a global paradigm shift.
  2. davies93_ Harold CunninghamGetty Images_BIS Harold Cunningham/Getty Images

    Can Global Banking Rules Survive in a Fractured World?

    Howard Davies warns that changes in US foreign policy jeopardize efforts to create a common regulatory framework.
  3. krueger84_Justin SullivanGetty Images_UStrade Justin Sullivan/Getty Images

    Trump’s Tariffs Will Hurt Mexico – and America

    Anne O. Krueger thinks the US administration’s trade restrictions will end up undermining its stated immigration goals.
  4. mahroum23_Andrew HarnikGettyImages_elon_musk_cabinet_meeting Andrew Harnik/Getty Images

    Americans Will Miss Their Government When It’s Gone

    Sami Mahroum explains what will follow from the indiscriminate gutting of federal agencies and mass firings.
  5. frankel169_Alex WongGettyImages_trump_gulf_of_america Alex Wong/Getty Images

    Trump’s Imaginary Victories

    Jeffrey Frankel

    On February 4, Donald Trump pretended that mild concessions by Canada and Mexico warranted a 30-day postponement of tariffs, and he will probably postpone them again. This reflects a broader pattern: Trump declares war, and when it becomes apparent that he cannot win, he pretends he already has.

    says that to call the US president a “transactional” leader is to ignore his utter lack of strategic thinking.
  6. johnson184_Picture AllianceGettyImages_greenland_flag Picture Alliance/Getty Images

    Greenland’s Future Must Be Decided by Greenland’s People

    Simon Johnson dismisses the argument that US national security depends on gaining control over the island.
  7. mpaxton1_jonathanfilskov-photographyGetty Images_mangrove jonathanfilskov-photography/Getty Images

    Nature Needs Its Own ID

    Midori Paxton shows how digital tools can drive a data-driven approach to protecting our planet’s environmental health.
  8. fedyk9_Oleg PalchykGlobal Images Ukraine via Getty Images_ukrainedrone Oleg Palchyk/Global Images Ukraine via Getty Images

    Ukraine’s True Value

    Anastassia Fedyk & Emilia Marshall

    Ukraine’s immense industrial and human resources once helped make the Soviet Union a global power, and Russian President Vladimir Putin is counting on them to achieve his neo-imperialist dream. With the US now behaving like a Kremlin proxy, supporting Ukraine has become an existential imperative for Europe.

    warn that abandoning the country could hand Vladimir Putin the opportunity to restore Russia’s imperial status.
  9. sierakowski116_Andrew HarnikGetty Images_trumpvancezelensky Andrew Harnik/Getty Images

    America Is Gone – Europe Must Replace It

    Sławomir Sierakowski

    Donald Trump and J.D. Vance’s verbal assault on Ukrainian President Volodymyr Zelensky in the Oval Office was shocking but not surprising. As the Trump administration rapidly destroys America's credibility and international standing, Europe must mobilize its ample resources to replace America as a global leader.

    says the Trump administration's Oval Office fight with Ukraine's president is a moment that will live in infamy.

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