Previously, Davies was Chairman of the Phoenix Group between 2012-15. He chaired the UK Airports Commission from 2012-15 and was the Director of the London School of Economics and Political Science from 2003-11. Prior to that appointment Sir Howard chaired the UK Financial Services Authority then the single regulator for the UK financial services sector, from 1997-2003.
Davies was the Deputy Governor of the Bank of England from 1995-97, after three years as the Director General of the Confederation of British Industry. Earlier in his career he worked in the Foreign and Commonwealth Office, including two years as Private Secretary to the British Ambassador in Paris, the Treasury, McKinsey, and as Controller of the Audit Commission.
Davies currently also chairs the Risk Committee at Prudential plc, whose board he joined in 2010. He is a member of the Regulatory and Compliance Advisory Board of Millennium Management LLC, a New York-based hedge fund. He has been a member of the International Advisory Council of the China Banking Regulatory Commission since 2003 and in 2012, was appointed Chairman of the International Advisory Council of the China Securities Regulatory Commission. Previously Sir Howard was an independent Director of Morgan Stanley Inc. for 11 years, from 2004-15 and earlier in his career was a Director of GKN plc from 1989-95.
Davies has published five books focused on the financial markets and regularly writes for The Financial Times, Times Higher Education, Project Syndicate and Management Today.