Where do failed regulators (and bureaucrats) wash ashore? David Kenmir • Regulatory practice partner for PriceWaterhouseCoopers (left 31/3/09) Carol Sargeant • Chief Risk Director Lloyds TSB February 2004 - 2010 (left Oct 2003) • Chair of Simple Products Steering Group • Chair of ABI Audit of Legacy Pension Schemes Clive Briault • Own Consultancy (left 30/4/08) • The Toronto Centre for Leadership in Financial Supervision – October 2008 • Chairman Newham New Deal Partnership – November 2008 • Financial Services Compliance (as principal consultant) - 2008 • Non-exec director of IFA IN Partnership – April 2009 • Senior Adviser (part time) KPMG - August 2010 Revealing quote "The answer to the financial crisis is more regulation. The answer is: get tough. It is about trusting the industry less, and taking a tough approach as regulators, being braver as regulators. One of the things that was part of the collective intellectual failure running up to August 2007 was regulation. Regulation needs to get tougher." John Tiner • CEO Resolution (left 19/7/07) Michael Foot • Chairman of Promontary Financial Group (left 31/3/04) Dan Waters • Managing Director of ICI Global – October 2011 (left Dec 2010) Thomas Huertas • Alternate Chair at European Banking Authority – Jan 2011 to Sep 2011 (left Sep 2011) • Partner Ernst & Young – September 2011 Vernon Everitt • Managing Director Marketing & Communications Transport For London - 2007 (from 1998 to left 2007) Margaret Cole • Senior Legal Adviser PriceWaterhouseCoopers – Autumn 2012 (reportedly £680k p.a.) Was on £340k Callum McCarthy • Non-executive board member HM Treasury – October 2008 (from 29/3/03) • Non-executive Chairman of Castle Trust (left 19/9/08) • Chairman of European operations J C Flowers – November 2009 Howard Davis • Director of London School of Economics (Left 21/9/03) • Chair of Commission into a third runway at Heathrow – September 2012 Jon Pain • Partner at KPMG (Risk Consulting division) – July 2011 (from July 2008) • Head of Conduct & Regulatory Affairs – RBS – August 2013 (left January 2011) Collette Bowe • Chair Ofcom Consumer Panel – 2003 (from January 1994) • Chair of Ofcom – March 2009. £200k p.a. up to 3 days per week (left December 1997) • Executive Chairman Robert Fleming European Asset Management • Deputy Chair Thames Water • Board Member Yorkshire Building Society • Board Member Framlington Group • Board Member Morgan Stanley Group International • Chairman Electra Private Equity • Chairman of Alcohol Concern • On Governing Committee of Queen Mary College London • Board Member London & Continental Railways • Board Member AXA Deutschland GmBH • Board Member UK Statistics Authority • Trustee of the Nuffield Foundation • Trustee of the Tablet Trust Richard Farrant Payoff - £370,000 • Director Daiwa Capital markets (left 31/1/99) • Member of Competition Commission David Severn • AIFA • Freelance pontificator • Governor of the Pensions Policy Institute • Non-executive director – The IFA Centre Philip Thorpe • President of the Futures Industry Institute – June 2001 Stuart Boyd • Awarded OBE Dame Deirdre Hutton • Non-executive Director of Castle Trust (from 1/4/04) • Chair of the Civil Aviation Authority – April 2009 £130k p.a. for two days per week • Non-executive Director of Thames Water • Director of HM Treasury • Chair of the National Consumer Council • Chair of the Food Standards Agency • Honorary Vice-President of the Trading Standards Institute • Vice-Chair of the European Food Safety Authority Management Board Sir James Crosby • Crosby is a non-executive director of television company ITV, and a trustee of charity Cancer Research UK. • In January 2009, it was reported that James Crosby will become the Chairman of Misys. Tom De Swaan • Non exec director GlaxoSmithKline - £177,000 2010 • Director Zurich Assurance • Member of Supervisory Board of Royal DSM (Holland) • Was Vice Chairman of Royal Ahold – May 2007 • Chairman of Supervisory Board of Van Lanschot NV – May 2008 • Member of Public Interest Committee of KPMG ELLP – October 2010 • Chairs Advisory Board of Rotterdam School of Management Carolyn Fairbairn • Director of Corporate Development & Strategy at ITV – March 2007 till April 2011 (left 2004) • McKinsey & Co – 2006 Sir Hugh Stevenson (2004- • Trustee, Sir Siegmund Warburg's Voluntary Settlement (Chairman) 2010) • Trustee, The Stevenson Family's Charitable Trust • Trustee, The Welton Foundation (Co-Chairman) • Member of the Investment Committee, University College, Oxford Karin Forsake • Non exec Director Eniro AB (2005 onward) • Non Exec Chairman Alliance Trust – January 2012 Kyra Hazou • Director of Societe Generale – 2011 (2001-2007) Moira Black • Independent Director for The Payments Council (left 30/11/04) • Non-executive director for Defence Equipment & Support. • Non-executive member of the Defence Audit Committee • Chairman of the DE&S Audit Committee and the North West London Hospitals NHS Trust. • Member of the General Optical Council • Was appointed CBE for services to consumers and to healthcare Prof David Miles • Council member of the Royal Economic Society, (retired 31/7/09) • Research fellow of the Centre for Economic Policy Research and at the CESIFO research institute in Munich. • Re-appointed by the Chancellor of the Exchequer for a second term on the MPC in February 2012. Sally Dewar • Managing Director J P Morgan Chase – June 2011 (left Jan 2011) Mark Norris • ? (1/7/2010) David Jackman • Non-exec Director Hornbuckle Mitchell - October 2010 (December 2003) • Managing Director The Ethical Space – January 2009 • Chairman of Sustainable Communities at British Standards - 2008 • Lead on Corporate Governance at Resources Global Professionals - 2006 • Tutor & Adviser at International Compliance Association (Singapore) - 1998 • Chairman at Jersey International Business School – 2010-2010 • Chairman of Sustainability Committee at British Standards – 2003-2010 • Visiting Professor at LondonMet – 2004-2008 David Strachan • Deloittes (left Nov 2010) Katharine Leaman • Was manager of the FSA professional standards policy team – an RDR architect (2000 - left Aug 2011) • Senior Manager Royal Bank of Scotland Amanda Bowe • Head of Strategy – Consumer Financial Education Body (now the MAS) • Group Compliance Director Aegon – April 2011 Hector Sants • Head of compliance and government and regulatory relations. January 2013 (left December 2012) In his new role Sants will join the Executive Committee of Barclays and report directly to the group chief executive Antony Jenkins. Suggested salary of £700k with additions amounting to a total of £3.1m p.a. Left due to ‘stress’ December 2013 Assisting Church of England Fiona Fry • Head of RDR for KPMG • Financial Services Consumer Panel Adair Lord Turner • George Soros US Thinktank (unpaid?) • Independent Director at Oaknorth Ltd David Dickinson • KPMG Head of People Strategy – April 2010 (FSA Project Manager) Christina Sinclair • Barclays Global Head of Compliance for Global Wealth and Investment Management – 1995-2013 October 2013 Julia Dunn • Head of Compliance Nationwide – September 2013 Head Banking/Mortgages 2000-2013 Sheila Nicol • Senior Adviser Ernst & Young working with EY clients on public policy and regulatory issues Director of Conduct Policy with a specific focus on the UK and Europe. Prior to joining the FSA, Nicoll was deputy chief left April 2013 executive of the Investment Management Association. Nicoll was also a board member of the European Funds and Asset Management Association and acted as chair of its regulatory policy committee. • Head of Public Policy Schroders June 2014 Lesley Titcomb • CEO Pensions Regulator 2/3/15 Ex Chief Operating Officer Sir Howard Davies • Chairman Phoenix Group 2012 FSA Chairman 1997-2003 • CEO RBS 2015 • Chairman Airports Commission • Non Exec of Morgan Stanley & Prudential Mark Hoban • ex Treasury Secretary 07-12 Clive Adamson • Non-exec Director at Prudential 2007 to 12/14 Zitah McMillan • Director DFC Global Corp Director Communications To 12/14 • • • Members Since January 2000 there have been 36 different members of the FSA board. Biographical information on the members is below. Robert Smith (December 1997 - December 2000): Before joining the FSA Smith worked at ICFC (now 3i), the Royal Bank of Scotland, Charterhouse Development Capital Ltd, Morgan Grenfell Private Equity, Morgan Grenfell Asset Management, MFI Furniture Group plc, Stakis plc, Tip Europe plc and Network Rail. He subsequently became Vice Chairman of Deutsche Asset Management, Chairman of The Weir Group plc and Scottish and Southern Energy and a non-Executive Director of 3i Group plc, Standard Bank Group Ltd, and Aegon UK plc.[19] Stephen Thieke (December 1997 - December 2000) (November 2002 - June 2005): Before his first appointment at the FSA, Thieke worked at JP Morgan & Co in New York as Chairman of its Risk Management Committee and Head of Corporate Risk Management. During his first term on the board he was chairman of [[RiskMetrics Group]. He was reappointed to the FSA board in 2002 and was also a member of the Board of Directors of PNC Financial Service Corp.[20][21] Keith Oates (February 1998 - February 2001): Before joining the FSA Oates was Executive Deputy Chairman of Marks and Spencer plc and Chairman of all the Marks and Spencer Financial Services Companies. He was also a Non Executive Director of British Telecommunications. He subsequently joined Coutts & Co as director of its new Monaco office and became a non-executive director of Diageo plc.[22] Phillip Thorpe (June