Former HBOS chief executive Sir James Crosby is to replace Deirdre Hutton as deputy chairman of the FSA.
As well as taking on the role of deputy chairman, Crosby will become chairman of the FSA’s committee of non-executive directors. Hutton will step down from the board when her current term of appointment ends in December.
Crosby joined the board of the FSA in January 2004 and is also non-executive director of Compass Group and ITV.
Economic secretary to the Treasury Kitty Ussher says: “I am pleased to announce James Crosby’s appointment as Deputy Chairman and Chairman of the Committee of Non-executive Directors.
“I want to pay tribute to the major contribution made by Deirdre Hutton as a member of the FSA board. By the time she steps down, Deirdre will have been a Non-executive Director for ten years and Deputy Chairman for more than three years.”
FSA chairman Callum McCarthy says: “We have been very fortunate to have Deirdre as our Deputy Chairman and I would like to pay tribute to Deirdre’s significant contribution to the FSA over a number of years. I am delighted that James will become Deputy Chairman from 11 December and I am confident that James will prove a very worthy successor to Deirdre.”