Ms Hutton will also take over as Deputy Chairman of the Board and Chairman of the FSA Committee of Non-executive Directors when Stewart Boyd retires at the end of March 2004.
It was also announced today that Christopher Rodrigues will leave the FSA Board when his second term expires on 10 December 2003.
Financial Secretary to the Treasury, Ruth Kelly said:
"I am delighted to announce the reappointment of Deirdre Hutton and her appointment as Deputy Chairman from next March which will ensure continuity at a time when the FSA is taking on increasing regulatory challenges. I would like to pay tribute to the major contributions made during the FSA's formative years by Christopher Rodrigues and Stewart Boyd. By the time he retires Stewart will have been Deputy Chairman for more than five years and he has been Chairman of the Committee of non-executive Directors since its inception. His wisdom and counsel have been invaluable to the success of the FSA."
FSA Chairman Callum McCarthy said:
"I too would like to pay tribute to Christopher's contribution and I am delighted that Deirdre will become Deputy Chairman next year. We have been fortunate indeed to have Stewart as our first Deputy Chairman and I am confident that Deirdre will prove a very worthy successor. At a time when the FSA's consumer responsibilities are of increasing importance her background will be of particular relevance."
Background
- Deirdre Hutton CBE is Chairman of the National Consumers Council and a member of the Better Regulation Task Force. Formerly Deirdre was Chairman of the Scottish Consumer Council and the Personal Investment Authority Ombudsman Bureau. She is Vice Chair of the European Food Safety Authority (EFSA).
- The Board of the FSA is appointed by the Treasury in accordance with the rules of the Office of the Commissioner for Public Appointments.
- Board members are appointed in a personal capacity and do not serve as representatives of particular interests or associations. A list of the current membership of the Board of the FSA is attached.
- The FSA became the statutory single financial services regulator at midnight on 31 November 2001, when the Financial Services and Markets Act came into force.
Callum McCarthy Chairman
Stewart Boyd QC Deputy ChairmanBencher, Middle Temple
John Tiner Chief Executive Officer
Moira Black, CBE Chairman, Consumer Communications for England; Director, N W London Hospital NHS Trust; Chairman, Lottery
Commission (wef 16/10/03)
Tom de Swaan Member of the Managing Board, ABN AMRO Bank NV
Kyra Hazou Formerly Managing Director and Regional General Counsel, Salomon Smith Barney/Citibank
Deirdre Hutton, CBE Chairman, National Consumer Council; Member, Better Regulation Task Force
Sir Andrew Large Deputy Governor (Financial Stability) Bank of England
Gillian Nott CBE Chairman, Baronsmead Venture Capital Trust plc; Director, Foreign & Colonial Pacific Investment Trust Ltd
Christopher Rodrigues (until 10 Dec 2003) Group Chief Executive, Bradford & Bingley plc; Director, Hilton Group plc
Dr Shamit Saggar World Fellow at Yale University
Steve Thieke Chairman, RiskMetrics Group (USA)
Clive Wilkinson Chairman, Birmingham Heartlands NHS Trust; Chairman, Midlands Industrial Association
Michael Foot Managing Director, Deposit Takers & Markets Directorate, FSA
