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The Financial Services Authority has today announced the retirement of Oliver Page, director of major retail groups and financial stability sector leader, the appointment of John Murray as communications director, and some moves amongst existing directors.
Oliver Page, who has been with the Financial Services Authority since its creation in 1998, and previously with the Bank of England, will retire at the end of April 2006.
John Murray, a former journalist, is currently a partner in the City public relations firm, Powerscourt. He is expected to join the FSA in April and will report to the FSA's chief executive, John Tiner.
David Strachan, formerly retail firms director, is taking over from Oliver Page as major retail groups director and financial stability sector leader, with the handover currently underway.
Sarah Wilson, will take over from David as retail firms director as from 1 February, and as insurance sector leader as from April.
John Tiner said:
"Oliver was a key player in the creation of the Financial Services Authority and developing our approach to financial regulation. Before that he had enjoyed a long and distinguished career at the Bank of England. I would like to thank him for all of the support he has given to me and for his enormous contribution to the UK financial markets over many years.
"I am also very pleased to welcome John Murray as a member of the FSA's senior management team. His extensive experience as a communications specialist will be invaluable in helping us to explain the FSA's strategy and priorities to our extensive range of stakeholders."
Background
- John Murray was a journalist on, among others, The Independent and the Daily/Sunday Express and was editor of the Scottish Daily Express, before becoming communications director of Telewest plc in 2000. Since 2003, he has been a partner in Powerscourt, a public relations firm which provides services to a wide range of sectors, including financial services.
- Oliver Page was appointed major retail groups director at its creation in April 2004, prior to which he was major financial groups director and formerly complex groups director, a position he held from the creation of the Financial Services Authority in 1998. He is also financial stability sector leader. Before joining the FSA, Oliver had a long career at the Bank of England including positions such as chief manager, reserves management and deputy director for the Bank's banking supervision.
- David Strachan was appointed retail firms director at its creation in 2004, and completed the review of the FSA's enforcement process in August 2005. David joined the Financial Services Authority in 1998 as head of market conduct & infrastructure, becoming director of deposit-takers in 2001, director of insurance firms in 2002 and then retail firms director in 2004. Before joining the FSA, David spent the early part of his career in the Bank of England working in both banking supervision and market operations areas.
- Sarah Wilson was previously high street firms director. Sarah joined the Bank of England in 1987 initially as an economist, and then in banking supervision. She was private secretary to Howard Davies as deputy governor of the Bank of England and moved to the Financial Services Authority when it was created. Roles as head of policy for the FSA's pension review and then head of mortgages & financial promotion led to her appointment as high street firms director.
- 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 for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.
