Financial Services Compensation Scheme chairman David Hall has been awarded a CBE for services to the financial services industry in this year’s New Year’s Honours list.
Hall was appointed chair of the FSCS in March 2006 for a three-year term and reappointed in 2009 for a further term.
Other financial services honours include former Bank of England monetary policy committee member Andrew Sentance, who was also awarded a CBE for services to the economy. He was a consistent voice calling for a rise in interest rates last year.
Newton chief executive Helena Morrissey was awarded a CBE for services to UK business while Paul Ruddock, a Conservative party donor and chief executive of hedge fund Lansdowne Partners, was knighted for services to the arts.
Canary Wharf Group chief executive George Iacobescu, who sits on the advisory council of lobbying group The City UK, was also knighted for services to charity, community and the financial services industry.
Seven employees from HM Revenue & Customs and nine from the Department of Work and Pensions were honoured.
Essential IFA managing director Peter Herd says: “The FSCS chairman award raises the question of why are they rewarding people for failure.”