Kari Hale, currently a partner with Deloitte & Touche UK LLP, has been appointed Director, Finance Strategy & Risk Division reporting to FSA Chief Executive John Tiner. A chartered accountant by background, he will be responsible for financial management, strategic planning, risk assessment and international co-ordination.
Peter Soden, currently Head of Premises, has been promoted to Director, FSA Services Division. Reporting to the Managing Director, Regulatory Services, he will be responsible for the FSA's working environment including premises management, internal and external security and staff services, including payroll and certain Human Resources functions.
John Tiner said: "I am delighted to announce these appointments. "Kari brings an extensive background in audit, assurance and risk consulting. His contribution will be crucial to our activities going forward, particularly in helping us look ahead to potential risks on the horizon. "Peter will be a key influence in our new Regulatory Service Business Unit. He will help us make the FSA a more efficient and effective organisation – something on which we are placing strong emphasis."
Background
- Kari Hale (39) has been a partner with Deloitte & Touche UK LLP since July 2002. Between 1986 and 2002 he held a number of positions at Arthur Andersen becoming a partner in Arthur Andersen UK in 1997. While he was at Andersen, he led the team working with the FSA on the "Arrow" project which defined the FSA's risk-based approach to regulation. He also worked on the review of the Bank of England's supervision of banks in the mid-1990s and, before that, was seconded to the Bank's Risk Review Team between 1993 and 1995 where he specialised in strategy, risk and control in complex treasury operations. He will join the FSA on 1 June.
- Peter Soden (55) has been with the FSA since its inception in 1997. He has a professional facilities, project and personnel management background gained at the FSA, Securities & Investments Board, Proshare and National Power. His appointment takes effect on 5 April to coincide with the introduction of the FSA's new management structure.
- The FSA' new, management structure will come into effect on 5 April. It will have three new Business Units, each headed by a Managing director who will be a member of the FSA Board, and Sector Leaders who will have specific responsibility for industry sectors and issues across the FSA. The names of the Sector Leaders were announced on 27 January. and the names of the new Managing directors are due to be announced in the next few weeks.
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection of consumers; and fighting financial crime.
- The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.