The FCA has appointed former Goldman Sachs managing director James Kelly as an adviser within its wholesale banking and investment management division.
In the part-time role, Kelly will advise the team on supervisory strategy.
He will start his new role immediately and report to Will Amos, director of the FCA’s wholesale banking and investment management division. Kelly was managing director of deriatives cross product sales at Goldman Sachs between 2007 and 2012.
Prior to that, he was managing director of risk management products at UBS between 1993 and 2007.
According to Kelly’s LinkedIn profile, he has been self-employed since leaving Goldman Sachs, working for ‘good deeds and worthy causes’, including as treasurer of Blackheath Conservatoire.
FCA director of supervision Clive Adamson says: “It is vital we continue to appoint individuals with sector specific expertise into the FCA, and James has that in spades. His knowledge of the market and strategic insight will be hugely valuable.
“This is the latest high-profile addition to the supervisory team at the FCA.”
Kelly says: “The investment banking sector continues to experience considerable change. I am looking forward to sharing my experience with Clive, Will and the rest of the team.”
Former Kleinwort Benson chief executive Rob Taylor joined the FCA as head of wealth management and private banking in the regulator’s supervision division last month.
Karina McTeague was also recruited last year as director of retail banking from Lloyds Banking Group.
Paladin Financial Services managing director Tim Purdon says: “This is a bit of a case of poacher turning game keeper, but at the same time we need people at the regulator who really understand what is going on in the industry.”