Private Client Group

July 19th, 2016

Getting to Know the New Prime Minister—Theresa May

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Theresa May is a highly experienced politician who has already made history by becoming the second longest serving home secretary in the past 100 years, serving six years in one of Government’s toughest jobs. Now, May takes on the role of Prime Minister of Britain. As she takes the reigns, she brings with her a new hope of leadership at a dramatic and tumultuous time for the nation. May is a seasoned career politician and an anti-BREXIT campaigner who is admired for her liberal stances on a number of social issues and strong work ethic.
Who is Theresa May?

Born in the seaside town of Eastbourne (Sussex) on October 1st, 1956, to a vicar (Reverend Hubert Brasier) and his wife (Zaidee), May had a humble upbringing which influenced her political career and imbued her with a sense of public service. She attended a state primary (an independent convent school) and then a grammar school in the village of Wheatley, which later became the Wheatley Park Comprehensive School during her time there. She later attended Oxford University (St Hugh’s College) for higher studies where she was introduced to the world of politics.

After graduating with a degree in Geography, she initially started working at the Bank of England and later rose to become head of the European Affairs Unit of the Association for Payment Clearing Services. It was during her 3rd year in college, in 1976, that she met her husband Philip, who was president of the Oxford Union, a well-known breeding ground for future political leaders.

Her Political Journey

It was during her college years that she conveyed to her close friends her ambition to pursue politics as her career. She began her political career by stuffing envelopes at her local Conservative Association before becoming a councillor in the London Borough of Merton from 1986 to 1994. Later, she moved to Westminster where she made her entry into parliament as the MP for Maidenhead in 1997, after previously failing to win seats in Durham and Barking.

After becoming MP, she was quickly appointed to William Hague’s shadow cabinet and became the first female chairman of the Conservative Party in 2002. Under Prime Minister David Cameron, she became the Home Secretary.

Key Dates

1986-94: Councillor, London Borough of Merton
1992: Parliamentary candidate, NW Durham
1994: Parliamentary candidate in the Barking by-election
1997 to present: MP of Maidenhead
1999-01: Shadow Education Secretary
2001-03: Shadow Transport
2002-03: Conservative Party Chairman
2003-04: Shadow Transport
2004-05: Shadow Culture Media & Sport
2005-09: Shadow Leader of the House of Commons
2009-10: Shadow Work & Pensions
2010-2016: Home Secretary
2016-present: British Prime Minister

Career Highlights

1. Holding a variety of key shadow cabinet posts from 1999–2010
2. The first female chairman of the Conservatives in 2002
3. Becoming the Minister for Women & Equalities and Home Secretary in 2010
4. Blocking British computer hacker Gary McKinnon’s extradition in 2012
5. Becoming the longest-serving Home Secretary (Britain) in the last century in 2015
6. Becoming the second female Prime Minister in 2016 (following Margaret Thatcher)

Political Thinking

1. Move forward with Brexit referendum toward a ‘win-win’ for both UK and EU
2. Unite UK by values of One Nation Toryism
3. Create a strong, new, positive vision for the future of the nation, a vision of a country that works not for the privileged few, but for every individual
4. Revamp boardroom ethics with workers guaranteed representation on company boards while shareholders vote on executive pay (which will be made binding every year)
5. Promote social mobility and reform
6. Create opportunity for the more disadvantaged in society

Final Thoughts

The Brexit referendum has thrown the UK into one of its worst political crises since 1940. As a result, Theresa May and the government face a daunting task in defining the nation’s new relationship with EU members while uniting the UK as a nation. While the early years of May’s time in Downing Street may be dominated by the process of divorcing the UK from the EU, her tenure will surely shape the course of British and European history for the foreseeable future.

Disclosure

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.

Zacks Investment Management, Inc. is a wholly-owned subsidiary of Zacks Investment Research. Zacks Investment Management is an independent Registered Investment Advisory firm and acts an investment manager for individuals and institutions. Zacks Investment Research is a provider of earnings data and other financial data to institutions and to individuals.

This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Do not act or rely upon the information and advice given in this publication without seeking the services of competent and professional legal, tax, or accounting counsel. The information contained herein has been obtained from sources believed to be reliable but we do not guarantee accuracy or completeness. Publication and distribution of this article is not intended to create, and the information contained herein does not constitute, an attorney-client relationship. No recommendation or advice is being given as to whether any investment or strategy is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole.
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