Carolyn Fairbairn appointed to the Board of the Financial Services Authority

The Economic Secretary to the Treasury, Kitty Ussher MP, today announced the appointment of Carolyn Fairbairn to the Board of the Financial Services Authority (FSA) as a Non-executive Director with effect from 11 December 2007.

Kitty Ussher said:

"I am pleased to announce that Carolyn Fairbairn has joined the Board of the FSA. This new appointment will add to the breadth of experience represented on the Board, in particular strengthening understanding of the consumer dimension to the FSA's work."

FSA Chairman Callum McCarthy said:

"I am delighted to welcome Carolyn to the FSA. She will help to ensure that we continue to have a strong and varied Board with wide and relevant experience."

Notes for editors

1. The FSA is a company limited by guarantee. The Board is appointed by the Treasury in accordance with the rules of the Office of the Commissioner for Public Appointments.

2. The majority of the Board members are Non-executive. In addition to the Chairman and Chief Executive, there are currently three Managing Director posts (one currently vacant) and nine Non-executive members of the Board.

3. The statutory role of the Non-executive Directors under the Financial Services and Markets Act 2000 is to check that the FSA operates efficiently and economically; oversee FSA's mechanisms of financial control and to set the pay of the executive members of the Board.

4. Carolyn Fairbairn is Director of Strategy at ITV where she is involved in strategic input and regulatory matters and also a member of the Executive Board. Prior to joining ITV, she held a senior position at the BBC where she was also a member of the Executive Board. Carolyn's career has also included spells in economic and financial journalism and as head of the media practice at McKinsey.

Current FSA board members

Sir Callum McCarthy	Chairman	Joined the FSA in September 2003 from the Office of Gas and Electricity Markets where he was Chairman and Chief Executive.
Sir James Crosby	Deputy Chairman Non-executive Board member	Joined the FSA Board in January 2004. He is a Non-executive Director of ITV plc, and Compass Group Plc. Formerly Chief Executive of HBOS plc, he is also a Fellow of the Faculty of Actuaries.
Hector Sants	Chief Executive	Appointed FSA Chief Executive in July 2007. He joined the FSA in May 2004 as Managing Director, Wholesale and Institutional Markets at the Financial Services Authority. Hector had responsibility for all regulated markets, the related infrastructure such as clearing and settlement, the operation of the UK Listing rules and regulation of firms or groups which conduct primarily wholesale or institutional market business between professionals.
Clive Briault	Managing Director, Retail Markets	Appointed Managing Director of Retail Markets in April 2004. He has overall responsibility for the FSA's extensive retail agenda and regulation of firms or groups whose business is predominantly at the retail end of the market.
David Kenmir	Managing Director, Regulatory Services	Appointed Managing Director for Regulatory Services in April 2004. He leads in the provision of a range of services to consumers, existing firms and firms seeking authorisation, as well as meeting the FSA's own operational requirements in areas such as IT and knowledge management.
Vacant	Managing Director, Wholesale and Institutional Markets
Peter Fisher	Non-executive Board member	Joined the FSA Board in January 2007. He is currently a Managing Director of BlackRock, Inc., and Chairman of BlackRock Asia.
Brian Flanagan	Non-executive Board member	Joined the FSA Board in January 2007. He is a Non-executive Director of WM Morrison plc, Jet Environmental Techniques Limited and Personal Navigation Systems Limited and was formerly a Vice President of Mars Inc.
Karin Forseke	Non-executive Board member	Joined the FSA Board in December 2004. She was Chief Executive Officer of Carnegie Investment Bank AB from 2003 until March 2006.
Sir John Gieve	Non-executive Board member (ex-officio post)	Joined the FSA Board when he became Deputy Governor, Financial Stability of the Bank of England in January 2006. He is a member of the Bank's Monetary Policy Committee, and in addition has specific responsibility for the Bank's work on Financial Stability issues. Before joining the Bank of England Sir John was the Home Office Permanent Secretary from April 2001.
Professor David Miles	Non-executive Board member	Joined the FSA Board in April 2004. David became Managing Director and Chief UK Economist at Morgan Stanley & Co Ltd in October 2004 and retains the role of visiting Professor of Financial Economics at Imperial College, University of London.
Michael Slack	Non-executive Board member	Joined the FSA Board in December 2004. He is Chairman of the Fyfe Group Ltd and a Director of the British Insurance Brokers' Association (BIBA).
Hugh Stevenson	Non-executive Board member	Joined the FSA Board in June 2004. He is Chairman of Equitas Limited, Chairman, The Merchants Trust Plc and a Non-executive Director of Standard Life Plc. He is also Chairman of the FSA Pension Plan Trustee Ltd.

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