89/98
2 June 1998
APPOINTMENTS TO THE BOARD OF THE FINANCIAL SERVICES AUTHORITY
The Treasury has today confirmed the appointment of three Executive Members of the Board of the Financial Services Authority (FSA). They are:
Richard Farrant - Managing Director and Chief Operating Officer
Michael Foot - Managing Director and Head of Financial Supervision
Phillip Thorpe - Managing Director and Head of Authorisation, Enforcement and Consumer Relations
These appointments take effect from 1 June and are for three years.
NOTES TO EDITORS
1. The Chancellor and the Governor of the Bank of England announced their intention to make these appointments on 10 October 1997. The appointments come into effect on 1 June when the FSA takes over responsibility for banking supervision (following the passage of the Bank of England Bill) and also starts delivering regulator services to the self-regulatory organisations (SROs).
2. The Treasury announced on 21 May that in line with the new procedures it was advertising for a number of non-executive members of the FSA Board. The present composition is as follows:
Executive members
Howard Davis - Chairman
Richard Farrant - Managing Director
Michael Foot - Managing Director
Phillip Thorpe - Managing Director
Non-Executive members
Lord Runciman CBE
Brian Williamson CBE
Keith Oates
Christopher Rodrigues
Robert Smith
Stephen Thieke
Deirdre Hutton
John Kennedy
Oonagh MacDonald
David Clementi