Clive Vacher
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Clive Vacher demonstrates textbook Navigator leadership throughout this interview, steering a 200-year-old institution through turbulent waters with methodical clarity and calibrated course corrections. He openly charts the paradox of cash's growth against declining transactional use, rejecting lazy narratives in favor of data-driven positioning.
“And it may be a further surprise for you to understand that over the course of the COVID pandemic, the demand for cash and the actual amount of cash in circulation has increased, not just in the UK, not just in Western Europe, but in the United States as well. And all of that is related to the safety net that cash provides in society.”
“In addition, banknotes provide a source of national identity and therefore need refreshing and generally we see countries refresh their banknotes every seven to 12 years and they also need refreshing to become more and more complex to fight the counterfeiters.”
“And of the 20 to 25 billion that are produced commercially, Dela Rue produces 6 to 7 billion. And then what is cash used for? Well, everybody runs to the fact that cash is used as a transactional tool, and it is. But according to a recent Bank of England study, only 25% of sterling is actually transacted at any one time.”
“And I think what that allowed me to do for the first time being thrown in that deep end was to really understand how to pull a business together to all work in the same direction. And there's really nothing more right through my career since I've always used that.”
Money Maze Podcast: “The End of Cash? “No!" Says Clive Vacher, CEO of De La Rue plc”
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