Ruth Kelly said:
"I am delighted to announce this appointment. Hugh Stevenson's experience as a practitioner in investment banking, fund management and insurance will prove invaluable to the Board, particularly when the FSA takes on its new role of regulating the general insurance market from January 2005."
FSA Chairman Callum McCarthy said:
"I am delighted to welcome Hugh to the FSA. He will help to ensure that we continue to have a strong and varied Board with wide and relevant experience."
Background
1. Hugh Stevenson is Chairman of Equitas and of Merchants Trust plc. He was previously Chairman of Mercury Asset Management Group plc, and prior to that Managing Director of SG Warburgs investment banking business. He is a Non-executive Director of Standard Life and the British Museum Company and a Special Trustee of Great Ormond Street Hospital.
2. The Board of the FSA is appointed by the Treasury in accordance with the rules of the Office of the Commissioner for Public Appointments.
3. 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.
4. Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558, or by e-mail to public.enquiries@hm-treasury.gov.uk.
5. This press release and other Treasury publications and information are available on the Treasury website at www.hm-treasury.gov.uk. If you would like Treasury press releases to be sent to you automatically by e-mail you can subscribe to this service from the press release site on the website.
LIST OF FSA BOARD MEMBERS AS OF 1 JUNE 2004
Callum McCarthy
Chairman
Deirdre Hutton, CBE
Deputy Chairman,
Chairman, National Consumer Council. Member Better Regulation Task
Force
John Tiner
Chief Executive Officer, FSA
Moira Black, CBE
Chairman, Consumer Communications for England; Director NW London
Hospital NHS Trust; Chairman, Lottery Commission
Clive Briault
Managing Director, FSA
James Crosby
Chief Executive, HBOS plc; Non-executive Director, Granda plc
Tom de Swann
Member of the Managing Board, ABN MRO Bank NV
Kyra Hazou
Formerly Managing Director and Regional General Counsel, Salomon
Smith Barney/Citibank
Sir Andrew Large
Deputy Governor (Financial Stability) Bank of England
David Kenmir
Managing Director, FSA
Prof David Miles
Professor of Finance at the Business School, Imperial College, London
University
Gillian Nott, CBE
Chairman, Baronsmead Venture Capital Trust plc; Director, Foreign &
Colonial Pacific Investment Trust Ltd
Dr Shamit Saggar
World Fellow at Yale University
Hector Sants
Managing Director, FSA
Steve Thieke
Chairman, RiskMetrics Group (USA)
Hugh Stevenson
Chairman, Equitas; Chairman, Merchants Trust plc
Clive Wilkinson
Chairman, Birmingham Heartlands NHS Trust; Chairman, Midlands
Industrial Association
