This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914
Categories:Regulation

Ex-FSA chairman Turner joins Soros-funded think-tank

  • Print
  • Comment

Former FSA chairman Lord Adair Turner

Former FSA chairman Lord Adair Turner

Former FSA chairman Lord Adair Turner has taken up a role with a US think-tank funded by hedge fund billionaire George Soros.

Turner has been appointed as a senior fellow at the London offices of the Institute for New Economic Thinking, following the disbanding of the FSA and creation of the Financial Conduct Authority and the Prudential Regulation Authority this week.

His role, which is thought to be unpaid, will see the former FSA chairman “thinking big thoughts” on how to overhaul the financial system.

Soros founded Inet in 2009 with an initial $50m (£33m) donation to develop new economic theories to replace those “outdated” and called into question by the 2008 financial crisis.

Turner was tipped to become the next governor of the Bank of England before Bank of Canada governor Mark Carney was appointed. He used his Mansion House speech in October to call for new policy “innovations” should existing schemes such as Funding for Lending fail to boost the economy.

He also famously claimed in August 2009 that much of the City’s activities were “socially useless”.

Philip J Milton & Company managing director Philip Milton says: “I do not see Turner as an economist, but with his background he may be able to add something to new economic thinking. An appointment like this was almost inevitable.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Is Labour right to be concerned about the unintended consequences of the Budget pension reforms?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments