John Webster - Chief Financial Analyst

Name: John Webster
Job: Chief Financial Analyst
Team: Chief Economist's Office
Joined OFT: 2006

I came to the OFT via a career in banking. After a Cambridge economics degree, my 'real world' initiation was sales support for 3M (owners of the 'Scotch' brand). I then worked as an economic analyst forecasting exchange rates before moving to financial analysis and an accountancy qualification. My work included investment appraisal, forecasting, budgeting, strategic planning and lots of performance reporting. Banks have figured strongly for me - including Bank of America, Standard Chartered Bank and HSBC/Midland Bank.

I came to a point where I felt I wanted to challenge myself to do something different - a big step after over 15 years with HSBC. The OFT chief financial analyst role stood out from the others because of the people, the good fit of my financial analysis skills and experience (not least with banks), and the link to economics. I also strongly agree with the OFT mission.

How has it been? The upside wins out heavily. We are on the side of the 'good guys' - I do sometimes feel I am poacher turned gamekeeper! And I really like the people; we all want to, and can, make a positive difference through our work. My small team are also great, and we can help project teams in many ways. These range from short meetings to give the financial analysis perspective to broader case involvement and training. My work-life balance has improved, too (most of the time!).

Since joining, I have been involved in some major market studies (including those examining the Pharmaceutical Price Regulation Scheme, payment protection insurance and bank current accounts), high-profile competition law cases, a range of workshops and discussions, as well as launching financial analysis training for my colleagues.

As for the future, I believe our team are pulling our weight, but would like to ensure we are involved where we can add most. Beyond this, I believe there are good opportunities - sometimes you just need to go for it!

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