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Baigrie Davies’ Amanda Davidson to chair FCA pay committee

Baigrie Davies director Amanda Davidson
Baigrie Davies director Amanda Davidson

Baigrie Davies director Amanda Davidson has been appointed as chair of the Financial Conduct Authority’s pay committee with immediate effect.

The appointment, published in the FCA’s April board minutes today, will see Davidson head up the FCA’s remuneration committee, made up of FCA chairman John Griffith-Jones, and fellow board members David Harker and Jane Platt.

The FSA’s annual report for 2011/12 revealed total FSA directors’ pay amounted to £2,709,896, including a total pay package of £835,731 awarded to former FSA chief executive Hector Sants. Sants donated his £143,750 performance-related bonus to charity.
 
The remuneration committee recommended last year that “funds should be made available to support a wider pay review for the year 2012/13” than had been the case for the previous two years when a pay freeze was in place.
 
The FCA board has also agreed the membership of several other board committees.
 
The Financial Inclusion Centre director Mick McAteer has been appointed chair of the risk committee, while Griffith-Jones will chair the oversight committee.
 
Former Deloitte Consulting senior partner Sir Brian Pomeroy will head up the audit committee, and the committee into the regulator’s report on the collapse of HBOS. He has also been appointed senior independent director on the FCA board.

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. “Funds should be made available”
    From who, 55% of Bank/Buliding society and 25% of IFA’s at the last count have de-authorised and won’t be paying fees next year. I wonder whose shoulders the bill will land?

  2. Amanda is a lovely lady with great ability, but is she really tough enough for this role?

    Indeed (not wishing to patronise or insult her) has the FSA chosen her as a patsy?

    Maybe she will surprise us all and show a core of steel that we haven’t noticed before in her usual placid and kindly exterior.

  3. I hope she awards them the same increase as I’m getting this year. Nowt.

  4. FSA Directors get £35,000 plus another £8,000 for chairing committees.

    That was last year so maybe the fees have risen, just like FSCS levies.

    I can think of many other advisers who would ensure that the pay structure reflected the abilities and, more importantly, the outcomes.

    Maybe Harry would like to gain a foothold?

  5. Reportedly, Amanda Davidson is these days a champion of ethical investments, though that’s in the wake of a six year stint with The Porchester Group (Trevor Deaves and that lot).

    Does anyone know how many hours per month she’s required to work for the FCA in return for £43,000 p.a.?

    Or just how much influence she has over FCA policy (or maybe doesn’t)?

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