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Economic Secretary to the Treasury, Kitty Ussher MP, today announced the appointment of Jon Pain to the Financial Services Authority (FSA) Board with effect from 25 July 2008.
Jon Pain joins the Board in the capacity of his position as Managing Director, Retail Markets at the FSA.
Kitty Ussher said:
"I welcome the appointment of Jon
Pain as Managing Director and am pleased to appoint him to the FSA
Board in that capacity. His knowledge of retail markets will
prove invaluable to the FSA."
Background
1. 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.
2. Jon Pain takes up the role of Managing Director of the Retail Markets Division, having previously been Managing Director at Cheltenham and Gloucester.
3. In addition to the Chairman and Chief Executive, there are currently three executive director posts and nine Non-executive members of the Board.
4. Current FSA board members
Sir Callum McCarthy
Chairman until 21 September
2008
Joined the FSA in September 2003 from the Office of Gas
and Electricity Markets where he was Chairman and Chief Executive.
Lord Adair Turner
Chairman-designate
Takes up office on
22 September 2008
Sir James Crosby
Deputy Chairman Non-executive Board
member
Joined the FSA Board in January 2004. He is a
Non-executive Director of ITV plc, and Compass Group Plc. and is
also a Fellow of the Faculty of Actuaries.
Hector Sants
Chief Executive
Appointed FSA Chief
Executive in July 2007. He joined the FSA in May 2004 as Managing
Director, Wholesale and Institutional Markets at the FSA.
David Kenmir
Managing Director, Retail
Appointed Managing
Director for Regulatory Services in April 2004. He has been
performing the role of Acting Managing Director, Retail since
April 2008.
Sally Dewar
Managing Director, Wholesale
Formerly
Director of the Markets Division, she joined the Stock
Exchange's Listing Authority in 1998 and until October 2005
was Head of Primary Markets in the Markets Division.
Carolyn Fairbairn
Non-executive Board member
Carolyn
Fairbairn joined the FSA Board in December 2007. She is the
Director of Strategy and Development at ITV plc. Carolyn is also a
non-executive director of Digital UK, the organisation leading the
UK's switch to Digital TV.
Peter Fisher
Non-executive Board member
Joined the FSA
Board in January 2007. He is currently a Managing Director of
BlackRock, Inc., and Chairman of BlackRock Asia.
Brian Flanagan
Non-executive Board member
Joined the FSA
Board in January 2007. He is a Non-executive Director of WM
Morrison plc, Jet Environmental Techniques Limited and Personal
Navigation Systems Limited and was formerly a Vice President of
Mars Inc.
Karin Forseke
Non-executive Board member
Joined the FSA
Board in December 2004. She was Chief Executive Officer of
Carnegie Investment Bank AB from 2003 until March 2006.
Sir John Gieve
Non-executive Board member (ex-officio
post)
Joined the FSA Board when he became Deputy Governor,
Financial Stability of the Bank of England in January 2006. He is
a member of the Bank's Monetary Policy Committee, and in
addition has specific responsibility for the Bank's work on
Financial Stability issues. Before joining the Bank of England Sir
John was the Home Office Permanent Secretary from April 2001.
Professor David Miles
Non-executive Board member
Joined
the FSA Board in April 2004. David became Managing Director and
Chief UK Economist at Morgan Stanley & Co Ltd in October 2004
and retains the role of visiting Professor of Financial Economics
at Imperial College, University of London.
Michael Slack
Non-executive Board member
Joined the FSA
Board in December 2004. He is Chairman of the Fyfe Group Ltd and a
Director of the British Insurance Brokers' Association (BIBA).
Hugh Stevenson
Non-executive Board member
Joined the FSA
Board in June 2004. He is Chairman of Equitas Limited, Chairman,
The Merchants Trust Plc and a Non-executive Director of Standard
Life Plc. He is also Chairman of the FSA Pension Plan Trustee Ltd.
