View more on these topics

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

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Soros founded Inet in 2009 with an initial $50m (£33m) donation to develop new economic theories to replace those “outdated” and called into question by the 2008 financial crisis.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

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com