The Bruges Group spearheaded the intellectual battle to win a vote to leave the European Union and, above all, against the emergence of a centralised EU state.

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The EU, the British Economy and the City of London

the eu the british economy and the city of london

Roger Bootle
Professor Tim Congdon
Terry Smith

The EU, the British Economy and the City of London
The EU, the British Economy and the City of London
An address and question time with Terry Smith, the Chief Executive Officer of the City of London firms, Tullett Prebon and Fundsmith, the economist Professor Tim Congdon CBE, and Roger Bootle, the Managing Director of Capital Economics


Terry Smith graduated in History from University College Cardiff in 1974. He worked for Barclays Bank from 1974-83 and became an Associate of the Chartered Institute of Bankers in 1976. He obtained an MBA at The Management College, Henley in 1979. He became a stockbroker with W Greenwell & Co in 1984 and was the top-rated bank analyst in London from 1984-89. In 1990 he became head of UK Company Research at UBS Phillips & Drew, a position from which he was dismissed in 1992 following the publication of his best selling book Accounting for Growth. He joined Collins Stewart shortly after, and became a director in 1996. In 2000 he became Chief Executive and led the management buy-out of Collins Stewart, which was floated on the London Stock Exchange five months later. In 2003 Collins Stewart acquired Tullett Liberty, the world’s second largest inter-dealer broker and followed this in 2004 with the acquisition of Prebon Group. Collins Stewart and Tullett Prebon were demerged in 2006. He was Executive Chairman of Collins Stewart between 2007 and 2009, and then Deputy Chairman until 6 December 2010. He has been Chief Executive of Tullett Prebon since December 2006. In November 2010 Terry launched Fundsmith, a new Fund Management business, of which he is Chief Executive.

Professor Tim Congdon is one of Britain’s leading economic commentators. He was a member of the Treasury Panel of Independent Forecasters between 1992 and 1997, which advised the Chancellor of the Exchequer on economic policy. He founded Lombard Street Research, the City of London’s leading economic research and forecasting consultancy, in 1989. Currently he is the founder and Chief Executive, International Monetary Research Ltd, which analyses the trends in money and banking.

Professor Congdon is an honorary professor at Cardiff Business School and a visiting professor at Cass Business School. He has written a number of books on monetary policy, contributes widely to the financial press, and makes frequent radio and television appearances. He is also the author of the Bruges Group papers, Will the EU’s Constitution Rescue its Currency? And, The City of London Under Threat: The EU and its attack on Britain’s most successful industry. He was awarded the CBE for services to economic debate in 1997. Professor Congdon is a member of the Bruges Group’s Academic Advisory Council.

Roger Bootle is one of the City of London’s best known economists, having worked in or around the financial markets since 1978. As well as being Managing Director of Capital Economics, he is also Economic Adviser to Deloitte and a Specialist Adviser to the House of Commons Treasury Committee. He was formerly Group Chief Economist at HSBC and, before the change of government, he was appointed one of the Chancellor’s panel of economic forecasters, the so-called “Wise Men”. He studied Economics at Oxford, and began his career in the academic world as a lecturer in Economics at St Anne’s College, Oxford.

Roger has written many articles on monetary economics and is joint author of the book, Theory of Money, author of Index-Linked Gilts and of the best-seller The Death of Inflation, which was published in April 1996 and has subsequently been translated into nine languages. Originally regarded as extreme, this book is now widely recognised as prophetic. His latest book, published in 2003, Money for Nothing – Real Wealth, Financial Fantasies and the Economy of the Future, has been widely acclaimed and has recently appeared in Japanese, German, Italian and Korean translations. Roger is a frequent performer at conferences and business gatherings around the world.