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131/01  
     
28 November 2001

FINANCIAL SERVICES AUTHORITY BOARD APPOINTMENTS

Economic Secretary Ruth Kelly today announced four reappointments to the Board of the Financial Services Authority (FSA).

Ms Moira Black CBE, Mrs Gillian Nott OBE, Dr Shamit Saggar and Mr Keith Whitson have been reappointed as non-executive Directors for three year terms.

Ruth Kelly said:

?I am delighted to announce these reappointments, which will continue to bring a welcome range of experience and perspective to the Board whilst, at the same time, ensuring consistency.  It is important that Board members have a diverse range of backgrounds at this stage of the FSA's development.?

All members serve in a personal capacity but bring particular experience to the Board's deliberations.


NOTES TO EDITORS

1. These reappointments are made under the existing legislation, the Financial Services Act 1986 which requires there to be a balance between the interests of those carrying on investment business and the interests of the public.

2. The Board of the FSA is appointed by the Treasury.

3. All Board members are appointed in a personal capacity and do not serve as representatives of particular interests or associations.

4. The Bank of England Act 1998 transferred responsibility for banking supervision to the FSA.  The FSA will become the statutory single financial services regulator when the Financial Services and Markets Act 2000's core provisions are commenced on 1 December 2001 (?N2?).

5. Biographical details:

  • Moira Black is Chairman of Consumer Communications for England, a non-executive director of the North West London Hospitals NHS Trust and Octagon HealthCare Ltd, and a member of the General Optical Council.  She is also Vice-Chairman of the University of North London, a Trustee of the Royal Botanic Gardens, Kew, and a director of the Foundation for Management Education.   She was formerly a partner in Price Waterhouse and has served on the panels of the Insolvency Practitioners and Financial Services Tribunals.  She is Chairman of FSA Pension Plan Trustee Ltd.
  • Gillian Nott is Chairman of Baronsmead VCT, and holds several other non-executive appointments on both listed and unlisted companies.  She is a Trustee of Business Dynamics, an educational charity, and previously was the founding Chairman of the Personal Finance Education Group and the Chief Executive of ProShare(UK)Ltd.
  • Shamit Saggar is currently on a secondment to the Cabinet Office from Queen Mary & Westfield College, University of London where he was a Reader in Government.   He is a non-executive Board member of the Whittington Hospital NHS Trust and a Governor of the Peabody Trust.   Previously he was a Board member of the National Consumer Council (including Chairman of the NCC Public Services Committee).
  • Keith Whitson is Group Chief Executive of HSBC Holdings plc.  He joined The Hong Kong and Shanghai Banking Corporation in 1961 and has worked for the HSBC Group in the UK (including as Midland's Chief Executive), USA, Germany, Hong Kong, Malaysia and Indonesia.  He is also a director of the group's major subsidiaries in the UK, Hong Kong, USA, Canada, South America & Germany.

6. If you have access to the Internet, you can find this new release and other Treasury material on this website.

7. Media requests for further information should be addressed to Liane Farrer in the Treasury Press Office, tel 020 7270 5192.

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