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Mr Timms said: "I am delighted to announce these appointments. Karin Forseke is a leading international investment banker who will offer a broad range of experience in capital markets and strategic and operational planning. The appointment of Michael Slack will bring a considerable knowledge of small financial services businesses to the Board as well as extensive experience in general insurance".
FSA Chairman Callum McCarthy said: "I am delighted to welcome Karin and Michael to the Board. They will ensure that we continue to have a strong and varied Board with wide and relevant experience. I would like to thank Gill Nott, Shamit Saggar and Moira Black, who are leaving the Board, for all that they have done for the FSA in recent years."
Karin Forseke and Michael Slack will take up their appointments on 1 December 2004.
Background Information
- Biographical details
Karin Forseke is CEO of D. Carnegie & Co AB, an independent Nordic investment bank. She was previously Chief Operating Officer of LIFFE and has extensive experience in different roles in financial markets in the US, UK and Sweden.
Michael Slack is Chairman of: Road Runner Motor Trade Ltd, Motor Trade Solutions Ltd, Road Runner Select Ltd, Liability Insurance Solutions Ltd, Self Drive Insurance Solutions Ltd, Temporary Cover Ltd. These will shortly be grouped in Fyfe Group Ltd. Mr Slack is also on the board of the General Insurance Standards Council, founder and Chairman of the Association of Insurance Intermediaries and Brokers (AIIB) and a member of the board of the British Insurance Brokers' Association (BIBA).
- Gillian Nott, OBE, Professor Shamit Saggar and Moira Black, CBE, will retire from the Board on 30 November 2004 after six years' service.
- The Board of the FSA is appointed by the Treasury in accordance with the rules of the Office of the Commissioner for Public Appointments (OCPA).
- 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.
- FSA Non-executive Directors are appointed initially for three years and are paid a fee of 22,500.
Callum McCarthy
Chairman
Dame Deirdre Hutton CBE
Deputy Chairman;
Chairman, National Consumer Council; Member of Better Regulation Task Force
John Tiner
Chief Executive, FSA
Clive Briault
Managing Director, Retail Markets, FSA
James Crosby
Chief Executive, HBOS plc; Non-executive Director, Granada plc
Tom de Swaan
Member of the Managing Board, ABN AMRO Bank NV
Karin Forseke
CEO, D. Carnegie & Co AB
Kyra Hazou
Formerly Managing Director and Regional General Counsel, Salomon Smith Barney/Citibank
David Kenmir
Managing Director, Regulatory Services, FSA.
Sir Andrew Large
Deputy Governor (Financial Stability), Bank of England
Professor David Miles
Chief UK Economist, Morgan Stanley, London
Hector Sants
Managing Director, Wholesale and Institutional Markets, FSA
Michael Slack
Chairman, Fyfe Group Ltd.
Hugh Stevenson
Chairman, Equitas Ltd; Chairman, Merchants Trust Plc
Steve Thieke
Chairman, RiskMetrics Group (USA)
Clive Wilkinson
Chairman, Birmingham Heartlands NHS Trust; Chairman, Midlands Industrial Assoc.
