
In this episode of the Citi Institute podcast, host Alex Miller is joined by Charles Armitage, European Defense and Aerospace Analyst, Citi Research, and General Sir Adrian Bradshaw, Former Deputy Supreme Allied Commander Europe (DSACEUR). Together they explore the shifting landscape of global security and defense strategy, from a focus on counterinsurgency and stabilization to the renewed emphasis on conventional deterrence and NATO readiness.
Charles Armitage examines the ongoing tension between defense innovation and the preservation of legacy military capabilities, underscoring the need for a layered, cost-effective defense model rather than reliance on any single “golden bullet” solution.
General Sir Adrian Bradshaw discusses how modern warfare now extends far beyond traditional military power, encompassing hybrid threats, cyber warfare, and national resilience.
Together, they address the critical question of how nations can motivate political leaders and the public to sustain the investment, innovation, and political will needed for defense modernization. Their insights reveal the complex, fast-evolving nature of global security, and the importance of a holistic, adaptive, and ethically grounded defense posture in an era of rising geopolitical tension.
The speaker's views are their own and may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
General Sir Adrian Bradshaw KCB OBE DL is one of Britain’s most senior military commanders and a leading NATO strategist. As Deputy Supreme Allied Commander Europe (2014–2017), he served as Britain’s most senior officer in NATO, shaping collective defence at a time of renewed tension with Russia and accelerating global risk.
Commissioned into the British Army in 1980, Adrian served worldwide in armour, as a helicopter pilot and in other specialist roles, commanding troops on operations at nearly every rank up to General. His extensive operational record spans Northern Ireland, Bosnia-Herzegovina, Kosovo, Sierra Leone, Iraq and Afghanistan. He has commanded an Armoured Battlegroup, an Armoured Brigade and Division, UK Land Forces, and served as Deputy Commander of NATO’s 140,000-strong force in Afghanistan. In recent years he has also flown as a fixed-wing pilot in the RAF Reserve in the rank of Flying Officer.
Adrian holds degrees in Agriculture, Defence Studies and International Relations. He was Visiting Defence Fellow at Balliol College, Oxford (2011), is Senior Associate Fellow at the Royal United Services Institute, and Visiting Professor at King’s College London, where he lectures on Defence Strategy. Currently Governor of the Royal Hospital Chelsea, he is Honorary Colonel of the Artist’s Rifles and recently handed over as Chairman of BLESMA, the UK charity for limbless ex-Service members.
A trusted chair of high-level private conferences with Heads of State and Government abroad on counter-extremism, Adrian also leads strategy sessions for companies and speaks regularly to business and institutional audiences through Chartwell. Known for an engaging, unscripted style—without slides or scripts—he blends frontline leadership lessons with clear frameworks for resilience, risk and results. His widely viewed TED talk, “Ambitious to Achieve? – then understand strategy,” underpins his practical approach to building holistic strategy.

Charles Armitage is a Director in the European Aerospace & Defence team at Citi Research. Prior to joining Citi in 2016, Charles worked as an equity analyst at UBS (2011-16), Merrill Lynch (2000-09) and Lehman Brothers (1995-97), an investor at Putnam (1997-2000) and a strategy consultant at Charles River Associates (2009-11) and OC&C (1993-95).

