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Balls announces FSA board shake-up

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.”


Duffin to leave ScotLife in reshuffle

Scottish Life chief executive Brian Duffin is leaving the firm at the end of March as part of an overhaul of the business.Parent firm Royal London has created a new division that will oversee all of its IFA businesses to be headed by John Deane, who joins from Old Mutual in April next year.Deane will […]

F&C appoints Woodward as head of investment trusts

F&C Asset Management has appointed Mike Woodward as head of investments trusts from January 1.Woodward joined F&C in the summer from Martin Currie as deputy head of investment trusts and began his career at Ivory & Sime (now F&C asset management) in 1983.He takes over from Michael Wrobel who retires from F&C next April.F&C head […]

Treasury knew about legal problems of limiting Asps

The Treasury was warned of the human rights problems of limiting alternatively secured pensions to the Plymouth Breth-ren when pension simplification legislation was being drawn up.As late as July, Treasury Economic Secretary Ed Balls told Parliament: “It was always our intention that the rules would apply in the specific and narrow case of individuals with […]

People will still be wary of pension perils

I try to be circumspect in my comments on the utterances of other IFAs. However, Tom McPhail’s prediction last week that savers will accumulate 10,000 by way of an Isa with a view to rolling it over into a personal account come 2012, thereby “hugely destabilising the IFA industry” is, to my mind, nothing more […]


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