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Hunt quits Aifa to avert consultancy clash

Lord David Hunt is stepping down as Aifa chairman to prevent any conflict of interest as his City law firm sets up a financial consultancy.

Hunt, who is a senior partner at Beachcroft Wansbroughs, has promoted the cause of independent financial advice in several House of Lords&#39 debates.

The new consultancy Beachcroft Wansbroughs Consulting will be launched on July 1, led by joint managing directors Richard Hobbs and Oliver Lodge.

Both currently work for the FSA, Lodge in the conduct of business standards division and Hobbs as a consultant. Hobbs, a former ABI head of life and pensions, is seen as influential in the corridors of Canary Wharf particularly on CP121.

The consultancy will focus on four areas, advising senior management on compliance matters, regulatory policy including responses to FSA initiatives, helping to shape a strategic approach to regulatory change and advising on public policy issues affecting retail financial services.

Hunt&#39s resignation will take effect at the Aifa AGM in November when a new chairman will be announced.

He says: “There is a clear growth in demand for advice and understanding in the regulatory arena and the legal solutions that we provide to our financial serv-ices clients are only one aspect of their overall regulatory requirements.”

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