The British Bankers Assoication has today appointed Sir Nigel Wicks as its new chairman in the wake of the Libor rigging scandal.
Former Barclays chairman Marcus Agius was forced to resign as chairman of the trade body in July after his bank was rocked by £290m worth of fines for Libor rigging.
Wicks worked as principal private secretary to former prime minister Margaret Thatcher in the 1980s and currently serves as chairman of Euroclear, a Belgian-based bond trader.
Announcing the appointment at the BBA annual conference in London this morning, BBA chief executive Anthony Browne said: “He has a long and impressive career in Whitehall and the City and the European Union.”
FSA managing director of prudential regulation Andrew Bailey said: “I have worked with Nigel Wicks for as long as I can remember and I think you have chosen very wisely and he will be a very effective chairman.”
Earlier today, Browne said he is considering plans to set up a register of bankers so rogue members can be struck off for wrongdoing.