The Financial Services Authority has today appointed two new Directors:
Thomas Huertas, currently Managing Director, Citigroup Global Transaction Services, joins as Director of Wholesale Firms Division. Reporting to Hector Sants, Managing Director of Wholesale & Institutional Markets, he will be responsible for the supervision of firms operating in the wholesale insurance, banking, investment banking and fund management sectors.
Graeme Ashley-Fenn, currently Programme Director (from May 2004, formerly Operations Director) for Pitney Bowes Inc (Europe, Africa & Middle East), joins as Director of Contact, Revenue and Information Management. Reporting to David Kenmir, Managing Director of Regulatory Services, he will be responsible for managing the FSA's contact centres for firms and consumers, collecting fee revenue from the industry and receiving and processing firms' statistical and other returns.
Thomas Huertas takes up his appointment in November and Graeme Ashley-Fenn takes up his appointment in October.
John Tiner, the FSA's Chief Executive, said:
"I am delighted to welcome Thomas and Graeme to the FSA. We will benefit hugely from the vast experience Thomas brings as a senior financial executive in the US and Europe and from Graeme's deep background in operations, financial services and improving customer service."
Background
- Biographical details
Since joining Citigroup in 1975, Thomas Huertas, 55, has held a number of senior positions, including Chairman and Chief Executive of Citibank AG (Germany) and Country Corporate Officer for Switzerland. In his career at Citigroup Tom worked extensively on regulatory issues and corporate strategy in both the United States and Europe as the Chief of Staff for the Vice Chairman. From 2001 to 2003, Tom was Chief Executive of Orbian, a trade finance and settlement company. Tom holds a Ph.D. in Economics, and he has lectured and published widely on banking and finance.
As Director, Wholesale Firms Division, he will be responsible for:
- Wholesale Insurance Firms – prudential and conduct of business supervision of general insurance companies, the Society of Lloyd's and some insurance intermediaries;
- Wholesale Banks – supervision of around 300 firms, the majority of which are foreign-owned, bringing a large international dimension to the work;
- Wholesale Investment Banks – supervision of a number of large US, Swiss, Japanese and EU firms that are of strategic importance to London's markets;
- Wholesale Investment Firms – a variety of firms including those in the following sectors: asset managers; brokers; derivatives; commodities; venture capital; and corporate finance
Graeme Ashley-Fenn, 45, is on the board of Pitney Bowes Inc., the world's leading provider of integrated mail and document management systems, services and solutions. Graeme has also held senior Operations and IT roles during his extensive background in financial services gained at NatWest Group, G.E. Capital and Lloyds TSB.
As Director, Contact, Revenue and Information Management, he will be responsible for:
- Contact Centres – dealing with most correspondence/calls/e-mails from firms and consumers, including handling many requests from firms for regulatory guidance;
- Revenue – calculating and collecting fees due from regulated firms;
- Returns Capture and Analysis – receiving and processing firms' returns and notifications, including the development of the policies and systems to support electronic submission of regulatory returns and maintaining standing data on firms and authorised individuals;
- Completion of the final elements of the Pensions Review.
- 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.
