Friday, June 21, 2019
We enjoy hearing of our former students' successes and are delighted to share this inspirational story.
Former Oldbury Wells student, Iain Pitt, was given the honour of ringing the bell to close the day's trading at the New York Stock Exchange on Monday 17th June.
Mr Pitt is CEO of the Oil & Gas Council and Energy Council – the world's leading network of senior energy executives. He co-founded the company over ten years ago and in 2017 it was bought by the Blackstone Group, an American multinational private equity firm based in New York, for more than £600 million.
The bell works to ensure the strict orderly functioning of the marketplace, and the loud ringing of the bell which signals the opening and closing of the day's business, is one of the most iconic images of the New York Stock Exchange.
Mr Pitt spoke of his experience to the Shropshire Star newspaper:
"It was pretty scary. 15 seconds prior to the market closing you ring the bell. That tells the traders that they have 15 seconds to complete their trade for the day."
He also credited the education he received at Oldbury Wells for his career successes:
"I was head boy at Oldbury Wells School in 2000 and it gave me the start in life to become part of this story. It was a great place to learn and where I made friends for life who still form the basis of my friendship circle. People in my role tend to have gone to Eton and then Oxford and Cambridge, so for me to get to where I have is because of the great education I received there. Having grown up in a council estate in Bridgnorth to being part of business that was bought for over £600 million in 2017 when I was still 35."