Mick McAteer joins FSA board

McAteer is most famous for his role as Which? principal policy adviser, a position he quit in July 2006 after 13 years. He is also founder and director of the Financial Inclusion Centre, an independent, not-for-profit think-tank that aims to promote properly regulated financial markets.

He is a non-executive director of the Pension Advisory Service and board member of the Financial Reporting Council’s Professional Oversight Board.

Pomeroy is chair of the Financial Inclusion Task Force and Scott is a professor of economics at the London Business School, fellow of the Centre for Economic Policy Research and managing editor for the Royal Economic Society’s Economic Journal.

Strachan is a non-executive director of Legal & General, JPMorgan Asian Investment Trust and Social Finance Limited. He was formerly chair of the Audit Commission, managing director and board member of Merrill Lynch International. He ws also director of the Bank of England until May 2009.

Chancellor Alistair Darling says: “I am very pleased to announce the appointment of these new members to the FSA board. Their mix of capabilities and backgrounds will make a valuable contribution to the work of the FSA.

“I would also like to take the opportunity to thank Michael Slack, who will step down from the board at the end of this month, for his contribution to the work of the board.”

Which? chief executive Peter Vicary-Smith adds: “For too long, regulation of financial services has been left almost exclusively in the hands of people with an industry background. We urgently need a culture change on the FSA board so that challenges to the industry line are voiced at the highest level.

“We welcome these new appointments, which will help to inject fresh perspective into the FSA’s decision-making and will hopefully herald the step change in financial regulation for which we have been campaigning so vigorously.”