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Phoenix Group hires former FSA chair Howard Davies

Phoenix Group 480 Wythall office Birmingham
Phoenix Group’s offices in Wythall, Birmingham

Phoenix Group has appointed former FSA chairman Sir Howard Davies as its new chairman.

Davies was chairman of the FSA between 1997 and 2003 and currently holds non-executive director roles with Prudential and Morgan Stanley.

He will replace Ron Sandler as chairman from October. Phoenix announced in March that Sandler would be leaving the firm having been in the role since September 2009.

Phoenix Group senior independent director Alastair Lyons says; “He has a deep understanding of public company corporate governance and risk management, and a breadth of experience within financial services.”

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  1. Very clever

    Phoenix Group senior independent director Alastair Lyons says; “He has a deep understanding of public company corporate governance and risk management, and a breadth of experience within financial services.”

    Gamekeeper becomes poacher

  2. And so the old boys club merry-go-round continues to turn.

    Can anybody think of another industry where the price of failure and incompetence is a pay rise and a knighthood for services?

  3. So these bottom feeding firms who would fit Edward Heath’s old label of the ‘Unacceptable face of Capitalism’ garner a sheen of respectability by bribing – ooops I mean hiring – ex regulators. Davis is by no means the first. What of Tiner who is cute enough not to be listed as a director so that his no doubt humungous salary need not be disclosed.

    Yet again we see regulators migrating to those whom they have regulated and doing well out it. The FSA (and no doubt the FCA) are really nothing other than a CV enhancer as a stepping stone to more lucrative sinecures. Not dissimilar to HMRC.

  4. “He has a deep understanding of public company corporate governance and risk management”

    He sure does. It was really risky accepting funds from Lybia.

  5. Didn’t have a particuarly deep understanding of risk management when accepting donations from Gaddafi junior on behalf of the LSE.

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