Sir James Sassoon to step down

Sir James Sassoon will give up his remaining responsibilities at HM Treasury on 12 September 2008 following a successful year as the President of the Financial Action Task Force (FATF), which ended in June 2008.

At his request, Sir James will also relinquish his part-time role as the Chancellor’s and the Treasury’s Special Representative for Promotion of the City, which he has undertaken since 1 January 2006.

The Chancellor, the Rt Hon Alistair Darling MP said:

“I would like to thank Sir James Sassoon for his contribution to promoting UK financial services internationally, and as President of FATF. Through his role in promoting the City, James has encouraged international financial services firms and other investors to build their presence in London.

“During the UK FATF Presidency, James reinforced the collaboration between the FATF and the private sector, and led initiatives on jurisdictions posing threats to the global financial system.”

Notes for editors

1. Sir James Sassoon joined HM Treasury from UBS Warburg in October 2002. He was Managing Director, Finance and Industry until January 2005.

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