I am delighted to be able to speak to you tonight. In view of the pressures on my programme at the moment, you may feel that my delight is a bit shallow but I can assure you that it is not. It is a most refreshing and agreeable change to be talking to members of a profession that I do not cross swords with! In fact, I do have the very greatest respect for your profession and I am sure that what I have to say this evening, should be relevant. I intend to talk about Management Development and I am sure that you will agree that Actuaries are themselves managers: they are managers of money in one form or another and I become particularly interested when it is my money that they are managing. So any help that I may be able to give you most certainly is given with a personal and ulterior motive.

I want what I say tonight to be as practically based as possible, and for this reason I shall be talking mainly about Reed International. I want to tell you some of the ways in which managers should be—and are being—developed in Reed.