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Investing in Change: The Reform of Europe?s Financial Markets by Andrew Gowers

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5A client’s viewSIR MARTIN SORRELL

For anyone involved in the financial markets, as a trading institution, an investor or a corporate client, the past three years have been turbulent indeed. We saw the widespread drying up of liquidity then the catastrophic collapse in trust following the bankruptcy of Lehman Brothers in 2008. Now the markets are struggling with Europe’s sovereign debt crisis, which continues to burden the financial sector and the real economy.

As a corporate user of the financial markets and wholesale banks, the company I run, WPP, has not been immune from any of these developments. We, like everyone else, suffered from the low to non-existent liquidity in financial markets between 2007 and early 2009. We experienced the force ...

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