Biography of Michael Foot

Michael David Kenneth Willoughby Foot C.B.E.

Chairman Promontory Financial Group (UK) Ltd

Mr. Michael Foot is a graduate of Pembroke College Cambridge and Yale University with two Economic MA degrees. He became an Associate of the Chartered Institute of Bankers in 1974, and made a Fellow in 2002.

He was Honorary President of the UK Branch of the ACI (the world-wide foreign exchange dealers association) from Oct 2002 to Oct 2004, and during that time he also held a member position in the Financial Reporting Council, Advisory Committee to the Financial Reporting Review Panel and Advisory Committee to the Association of Corporate Treasurers

Michael was awarded the CBE in the 2003 New Year’s Honours List for services to financial regulation.

With the Bank of England from 1969 to 1998, Michael worked in a variety of domestic and international fields, becoming one of the 4 Executive Directors of the Bank in 1996 (responsible for the supervision of banks).

Since 1997, Michael worked on the creation of the Financial Services Authority from its announcement at end-May 1997 while still a Director at the Bank of England to its formal creation in June 1998. He was then appointed by the Chancellor of the Exchequer as one of three Managing Directors of the Financial Services Authority, an appointment renewed in 2001.

Michael was appointed Inspector of Bank and Trust Companies for the Bahamas November 1st, 2004 to May 2007. He then returned to become Chairman of PFG UK.

He is married with 3 adult children.