Gillian Tett
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Gillian Tett (born 10 July 1967) is a British author and journalist at the ''
Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Ni ...
'', where she is chair of the editorial board and editor-at-large, US. She has written about the financial instruments that were part of the cause of the financial crisis that started in the fourth quarter of 2007, such as CDOs,
credit default swap A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event. That is, the seller of the CDS insures the buyer against som ...
s, SIVs,
conduit Conduit may refer to: Engineering systems * Conduit (fluid conveyance), a pipe suitable for carrying either open-channel or pressurized liquids * Electrical conduit, a protective cover, tube or piping system for electric cables * Conduit curre ...
s, and SPVs. She became renowned for her early warning that a financial crisis was looming.


Education

Tett was educated at the
North London Collegiate School North London Collegiate School (NLCS) is an independent school with a day school for girls in England. Founded in Camden Town, it is now located in Edgware, in the London Borough of Harrow. Associate schools are located in South Korea, Jeju I ...
, an independent school for girls in
Edgware Edgware () is a suburban town in northern Greater London, mostly in the London Borough of Barnet but with small parts falling in the London Borough of Harrow and in the London Borough of Brent. Edgware is centred north-northwest of Charing Cros ...
, in the
London Borough of Harrow The London Borough of Harrow () is a London borough in northwest London, England; it forms part of Outer London. It borders four other London boroughs Barnet to the east of ancient Watling Street (now the A5 road), Brent to the southeast, Ea ...
in northwest London, during which time, at the age of 17, she worked for a Pakistani nonprofit.McKenna, Brian (2011
Bestselling Anthropologist "Predicted" Financial Meltdown of 2008
, ''Society for Applied Anthropology Newsletter''
After leaving school, Tett went to
Clare College, Cambridge Clare College is a constituent college of the University of Cambridge in Cambridge, England. The college was founded in 1326 as University Hall, making it the second-oldest surviving college of the University after Peterhouse. It was refound ...
, where she earned a PhD in Social Anthropology based on field research in
Tajikistan Tajikistan (, ; tg, Тоҷикистон, Tojikiston; russian: Таджикистан, Tadzhikistan), officially the Republic of Tajikistan ( tg, Ҷумҳурии Тоҷикистон, Jumhurii Tojikiston), is a landlocked country in Centr ...
in the former
Soviet Union The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, ...
. She expressed frustration with an academic
anthropology Anthropology is the scientific study of humanity, concerned with human behavior, human biology, cultures, societies, and linguistics, in both the present and past, including past human species. Social anthropology studies patterns of be ...
that in her view has been committing "intellectual suicide" and decided instead to pursue a career in
journalism Journalism is the production and distribution of reports on the interaction of events, facts, ideas, and people that are the " news of the day" and that informs society to at least some degree. The word, a noun, applies to the occupation (pro ...
.


Life and career

In 1993, Tett joined the ''Financial Times'' as a correspondent from the former Soviet Union and Europe. In 1997, she was posted to Tokyo, where she later became bureau chief. In 2003, she became deputy head of the Lex column. Tett was then U.S.
managing editor A managing editor (ME) is a senior member of a publication's management team. Typically, the managing editor reports directly to the editor-in-chief and oversees all aspects of the publication. United States In the United States, a managing edit ...
at the FT, before working as an assistant editor and columnist before returning to the U.S. managing editor position. She is also the chairwoman of the board of trustees for the Knight–Bagehot Fellowship in Economics and Business Journalism with
Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
. During the years 2005–2007, Tett applied her skills in
ethnographic Ethnography (from Greek ''ethnos'' "folk, people, nation" and ''grapho'' "I write") is a branch of anthropology and the systematic study of individual cultures. Ethnography explores cultural phenomena from the point of view of the subject ...
research to J.P. Morgan and discovered that the insular culture was leading to the creation of financial instruments that had little basis and that could cause severe economic disruption. In 2006, she predicted the financial crisis. Her 2009 book ''Fool's Gold'' recounts the lead-up to the economic crisis and the eventual collapse. She also played a significant role in the 2010 documentary ''Inside Job'' about the financial crisis of 2008. In 2010 Tett interviewed author
Sebastian Mallaby Sebastian Christopher Peter Mallaby (born May 1964) is an English journalist and author, Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations (CFR), and contributing columnist at ''The Washington Post''. ...
on C-SPAN about his book '' More Money Than God: Hedge Funds and the Making of a New Elite'' providing a very clear image of
hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as s ...
s. Mallaby introduced "James Simons, founder of the Renaissance Technologies hedge fund and arguably the most successful investor of all time" but who was virtually unknown in 2010. Interviewer Gillian Tett Tett is a single parent to two daughters.


''Fool's Gold''

Tett's 2009 book ''Fool's Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe'' was widely reviewed throughout the English-speaking world and won the Spear's Book Award for the financial book of 2009.


'' Anthro-Vision: A New Way to See in Business and Life''

''Anthro-Vision, a New Way to See in Life and Business'', published in June 2021, concerns the behaviour of organizations, individuals, and markets by looking through an anthropological lens. Daniel Kahneman praised Anthro-Vision as "a really brilliant book”.


Awards and honours

* 2007, Wincott prize for financial journalism ( capital markets coverage) * 2008, Business Journalist of the Year,
British Press Awards The Press Awards, formerly the British Press Awards, is an annual ceremony that celebrates the best of United Kingdom, British journalism. History Established in 1962 by ''The Sunday People, The People'' and ''Campaign (magazine), World's Press ...
* 2009, Journalist of the Year, British Press Awards * 2009, Financial Book of the Year (for ''Fool's Gold'') * 2011, President's Medal of the
British Academy The British Academy is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the same year. It is now a fellowship of more than 1,000 leading scholars spa ...
. * 2012, Business Communicator of the Year, UK Speechwriters' Guild * 2012,
Society of American Business Editors and Writers The Society for Advancing Business Editing and Writing is an association of business journalists. Originally founded as the Society of American Business Editors and Writers, in 2018, it changed its name "as part of a broader effort to embrace a ...
Award for best feature article, for ''Madoff spins his story'' * 2013, Honorary doctorate,
Baruch College Baruch College (officially the Bernard M. Baruch College) is a public college in New York City. It is a constituent college of the City University of New York system. Named for financier and statesman Bernard M. Baruch, the college operates unde ...
of the City University of New York * 2014, Columnist of the Year, British Press Awards * 2015, Honorary degree, Lancaster University * 2016, Honorary degree,
University of Exeter , mottoeng = "We Follow the Light" , established = 1838 - St Luke's College1855 - Exeter School of Art1863 - Exeter School of Science 1955 - University of Exeter (received royal charter) , type = Public , ...
. * 2016, Honorary degree,
University of Miami The University of Miami (UM, UMiami, Miami, U of M, and The U) is a private research university in Coral Gables, Florida. , the university enrolled 19,096 students in 12 colleges and schools across nearly 350 academic majors and programs, i ...
* 2017, Honorary fellowship,
Goldsmiths, University of London Goldsmiths, University of London, officially the Goldsmiths' College, is a constituent research university of the University of London in England. It was originally founded in 1891 as The Goldsmiths' Technical and Recreative Institute by the Wo ...
. * 2017, Tepper School of Business Award for Professional Excellence, Carnegie Mellon University * 2017, Foreign Commentator of the Year
Editorial Intelligence
* 2019, Best in Business Honorees, Newsletter, Moral Mone

* 2020, Winner, Newsletter Category
Moral Money


Books

*''Saving the Sun: How Wall Street Mavericks Shook Up Japan's Financial World and Made Billions'', 2004 (). *''Fool's Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe'' (in some markets called ''Fool's Gold: How the Bold Dreams of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe'', 2010 ) *''The Silo Effect: The Peril of Expertise and the Promise of Breaking Down Barriers'', 2015 () * ''Anthro-Vision: A New Way to See in Business and Life'', 2021


See also

* John Authers


References


External links

* * * {{DEFAULTSORT:Tett, Gillian 1967 births Living people People educated at North London Collegiate School Alumni of Clare College, Cambridge British expatriates in the United States British women journalists British business and financial journalists British business writers English financial writers Women business writers Women business and financial journalists Recipients of the President's Medal (British Academy) Financial Times people Managing editors