HISTORIC PRESS RELEASE : Financial Services Authority – Appointment of managing director to the board [October 2000]
The press release issued by HM Treasury on 19 October 2000.
The Treasury is seeking applications for an additional Managing Director to the Board of the Financial Services Authority. Advertisements will appear in the national press from 19 October onwards. The text of the advertisement is attached.
The new post will have direct responsibility for the Consumer Relations Division, the regulation of insurance and investment firms, retail investment policy, training and competence issues and product regulation.
Announcing the new post, Economic Secretary Melanie Johnson said:
“This is a major appointment. The new Managing Director will have a key role in raising public awareness of the financial system and ensuring that consumers have the information they need to make appropriate choices about financial services products.
“The Government regards this as a key element in the success of its regulatory reforms. Appointments will be made in line with the guidance on Appointments to Public Bodies issued by the Commissioner for Public Appointments.”
NOTES TO EDITORS
1. The Board of the Financial Services Authority is appointed by the Treasury.
2. The current Financial Services Authority Board is listed below. It comprises the Chairman, the non-executive Deputy Chairman, two Managing Directors and ten non-executive Directors.
Sir Howard Davies, Chairman Joined the Board in July 1996 and became Chairman in August 1997
Stewart Boyd QC, Deputy Chairman Joined the Board in March 1999. Called to the Bar, Middle Temple in 1967 and appointed Queen’s Counsel in 1981
Moira Black CBE, Joined the Board in December 1998. Chairman, Consumer Communications for England. Vice-Chairman of the University of North London. A non-executive director of the North West London Hospitals NHS Trust. A trustee of the Royal Botanic Gardens
David Clementi, Joined the Board in September 1997. Deputy Governor (Financial Stability) of the Bank of England
Michael Foot, Managing Director Head of Financial Supervision. Joined the Board in June 1998
Deidre Hutton CBE, Joined the Board in December 1997. Vice Chairman of the National Consumer Council. Chairman of the Personal Investment Authority Ombudsman Bureau
Gillian Nott OBE, Joined the Board in December 1998. Chairman of Baronsmead VCT plc. Director, Foreign and Colonial Pacific Investment Trust Ltd. Trustee of Understanding Industry
Keith Oates, Joined the Board in February 1998. Non-executive Director of British Telecommunications plc. Non-executive Director of Diageo plc, where he chairs the Audit Committee
Christopher Rodrigues, Joined the Board in December 1997. Chief Executive of the Bradford & Bingley Building Society. A non-executive Director of Energis plc
Dr Shamit Saggar, Joined the Board in December 1998. Reader in Government at Queen Mary & Westfield College, University of London. Board member of the National Consumer Council. A non-executive member of the Whittington Hospital NHS Trust. A Governor of the Peabody Trust. Member of the Advisory Council, Institute of Citizenship
Sir Robert Smith, Joined the Board in December 1997. Vice Chairman, Deutsche Asset Management. BBC National Governor for Scotland. Chairman of the National Museums of Scotland.
Stephen Thieke, Joined the Board in December 1997. Chairman of the RiskMetrics Group.
Phillip Thorpe, Managing Director Head of Authorisation, Enforcement and Consumer Relations. Joined the Board in June 1998.
Keith Whitson, Joined the Board in December 1998. Group Chief Executive of HSBC Holdings plc. He is also a director of the group’s major subsidiaries in the UK, Hong Kong, USA, Canada and Argentina.
