Treasury Economic Secretary Ed Balls has announced a number of changes to the membership of the board of the FSA including the appointment of two new non-executive directors.
Former Under Secretary at the US Treasury and executive vice president of the Bank of New York Federal Reserve Peter Fisher and former vice president of business transformation at Mars Brian Flanagan both join from January 2007.
Balls also announced the extension of Dame Deirdre Hutton’s current term as a non-executive director and deputy chairman until December 2007 and that of James Crosby for a further three years from January 2007.
After two three-year terms Kyra Hazou, Tom de Swaan and Clive Wilkinson will all retire from January 2007.
Balls says: “I am delighted to announce the appointment of Peter Fisher and Brian Flanagan to the Board of the FSA. Peter Fisher is a leading industry practitioner with knowledge and experience of international financial markets, regulation, supervision and public policy. Brian Flanagan will bring considerable business experience in a highly consumer focussed area to the Board. These new appointments will add to the breadth of experience represented on the Board and will strengthen the FSA.
I am also delighted to be able to re-appoint James Crosby and to extend Deirdre Hutton’s current term by one year so that they can continue to work with Callum McCarthy and their fellow directors to deliver the FSA’s move towards more principles based regulation.”