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Department of Land Economy

Environment, Law & Economics

David Pitt-Watson is former head of funds and director of Hermes. There he founded Hermes Equity Ownership Service, a sustainable investment service advising on over £125bn of assets. He is also an executive fellow at the London Business School, chair of the UNEP finance initiative, treasurer of Oxfam and board member of NESTA, ICGN, and Oxford Analytica. In 2016 he published “What They Do with Your Money: How the Financial System Fails Us, and How to Fix it”, the subject of this year’s Denman Lecture.


In the context of an economic system that is failing to deliver its full potential and a financial system that is failing to create wealth, David Pitt-Watson explores what a capitalist system vested with the interests of society looks like, and what is required to deliver it. He presents practical solutions including: how we can change the theory and teaching of finance; how we can change the beliefs and practices of actors in the system; and how we can move from narrow company board membership to enfranchisement of all stakeholders.


Watch the Lecture