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Ex-FSA director Sheila Nicoll joins Ernst & Young


Former FSA director of conduct policy Sheila Nicoll has joined Ernst & Young, becoming the latest ex-regulator to join of the ‘big four’ consultancy firms.

She will be working with EY clients on public policy and regulatory issues with a specific focus on the UK and Europe.

Nicoll left the regulator in April when it was replaced by the Financial Conduct Authority. While at the FSA she led some of the regulator’s flagship initiatives such as the RDR, the Mortgage Market Review and the funding review of the Financial Services Compensation Scheme.

Prior to joining the FSA, Nicoll was deputy chief executive of the Investment Management Association. Nicoll was also a board member of the European Funds and Asset Management Association and acted as chair of its regulatory policy committee.

EY global head of asset management advisory Alex Birkin says: “We are delighted Sheila has joined us. She has an unrivalled depth of public policy and regulatory experience in the sector, coupled with a pragmatic approach to their application.

“This will be invaluable to our clients as they grapple with the challenges and opportunities that the implementation of European and UK regulations creates for their businesses.”  

Philip J Milton & Company managing director Philip Milton says: “When these kind of appointments happen there is always a suggestion that the relationship between big firms and the regulator is too close. Some may call me naïve, but I would think EY would look to show the opposite, and prove it is whiter than white in that regard.”


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