Thursday 14 March 2024 6:00 am | Updated: Wednesday 13 March 2024 12:19 pm

Square Mile and Me: UK Export Finance CEO Tim Reid on The Wolseley, biochemistry and the thrill of the deal

Each week we ask a City figure to take a trip down memory lane. Today, Tim Reid, CEO at UK Export Finance, talks us through his career – and his favourite City spots.

What was your first job?

My first ever job was delivering newspapers where I grew up in Newcastle. It involved a lot of early mornings that trained me well for working life!

What was your first role in finance?

I joined Midland Bank via its graduate training programme in 1997. About five years down the line, it was acquired by HSBC and I’m proud to say I then spent the best part of 34 years with the bank moving through a variety of roles including running commercial banking in the Middle East and Europe, managing HSBC’s global banking across the Middle East and North Africa, and finally as global head of transaction banking in the global banking division. I think it set me up really well for my current role as CEO at UK Export Finance (UKEF), given the global scope of what we do and the positive impact we have on UK businesses.

When did you know you wanted to build a career in finance?

I’m not sure that this was ever an active decision. I did a degree in biochemistry at Cambridge, but then decided it wasn’t the field for me and I fell into banking. It was a happy accident that has worked out well and I’ve never looked back.

What’s one thing you love about the City of London?

The City is world-renowned for its deal-making activity and I don’t think I’ll ever tire of it. I get a thrill out of getting a deal over the line, whether it’s helping a small business get into exporting for the first time or unlocking big overseas projects which create a world of opportunity.

What’s been your most memorable interview?

Perhaps the oddest opportunity I was interviewed for was back when I was living in New York. A former boss and mentor at the time suggested I take an interview for a role that would have seen me running a glass bottle business. It was completely out of left field and outside my comfort zone. Unsurprisingly, perhaps, I turned it down in the end.

What’s been your proudest moment?

Career-wise, there are two jobs which stand out for me. One of which was overseeing commercial banking in the Middle East and North Africa. It’s a region that I had a lot of experience in from my previous role, and I got to see a tremendous amount of progress which was incredibly rewarding. The other was, without a doubt, being appointed CEO at UKEF last year – I get to lead an organisation that is helping businesses all over the country to keep on exporting.

And who do you look up to?

During my career I’ve been lucky enough to have a number of fantastic managers and mentors that have been really instrumental in helping me navigate my career. From overcoming hurdles to thinking about what challenge comes next, I’ll be forever grateful for the advice I’ve received over the years. I’ll refrain from naming names – there are too many to mention – but hopefully they know who they are!

Are you optimistic for the year ahead?

Really optimistic. There’s no getting away from the fact that the last couple of years have been challenging economically and so many industries have been managing the impact of inflation and high interest rates. Here at UKEF we have a real opportunity to help businesses of all shapes and sizes capitalise on the opportunities to export their goods and services around the world. When I travel overseas, I also see lots of interest in goods and services that the UK can provide.

We’re going for lunch, and you’re picking – where are we going?

If I’m having a real treat, and a break from grabbing lunch on the go, it’ll be The Wolseley. There’s a great bustle and buzz about it.

And if we’re grabbing a drink after work?

The Clarence pub on Whitehall is one of my favourites. It’s an easy place to unwind and it also has a traditional feel which I quite like.

Where’s home during the week?

I live just outside Winchester and commute every day. It’s not too far, and I much prefer getting back home during the week if I am not on the road.

And where might we find you at the weekend?

In the days, I like to get outside as much as I can. You’ll find me doing some gardening or maybe on the golf course. In the evening, it’s usually dinner with family and friends.

You’ve got a well-deserved two weeks off. Where are you going?

I lived in the US for 12 years, and my wife is American, so we always try and get back there every summer. Outside of that, we’re quite adventurous and like travelling and exploring new countries and cultures. This year, it’s Croatia.