A Deputy Chairman and two new members have been appointed to the Financial Services Practitioner Panel. The new members, who will start on 1st September, are John Hitchins, Financial Services Partner at PwC and Alexander (JJ) Justham, CEO of London Stock Exchange plc. Both have been appointed as sector representatives, taking over from members who recently left the Practitioner Panel. In addition Paul Swann was appointed Deputy Chairman of the Practitioner Panel from 1st July 2012. Paul is President & Managing Director, ICE Clear Europe and has been a member of the Practitioner Panel since November 2010.
Joe Garner, Chairman of the Practitioner Panel, said:
“I am pleased to be welcoming two well regarded and experienced new members to the Practitioner Panel, as well as a leading member of the Markets community in Paul Swann as Deputy Chairman. At this time of regulatory change, it is vital that the Practitioner Panel continues to be able to offer the cross sectoral and senior level perspective to the FSA, particularly as plans are developed for the new Financial Conduct Authority and the Prudential Regulation Authority.”
NOTES FOR EDITORS
- The Financial Services Practitioner Panel was established under the Financial Services and Markets Act 2000 to represent the interests of practitioners and is independent of the FSA. Members are appointed by the FSA and are drawn from regulated institutions and market users at a senior level. Membership rotates to ensure a balance between consistency and new input. The current Financial Services Bill requires the FCA also to maintain a similar Financial Services Practitioner Panel.
- John Hitchins is Global Chief Accountant at PwC, and in that role leads PwC’s IFRS technical consulting services. He has specialised in bank auditing and advisory services throughout his career and has also carried out a wide variety of advisory work for other banks including advising on corporate governance, high level controls & regulatory issues. He has led investigations for banking regulators in the UK and also in Switzerland. He served as the firm’s UK banking industry leader from 2001 until 2010. Until July 2010 he was Chairman of the Banking Committee of the Institute of Chartered Accountants in England & Wales and a Board member of the Institute’s Financial Services Faculty. He was a member of the Institute’s Business Law Committee until 2011. He serves as a member of the IFRS Advisory Council.
- Alexander Justham (“JJ”) was appointed as the CEO of London Stock Exchange plc in June 2012. London Stock Exchange plc is part of the international diversified listed exchange Group, London Stock Exchange Group. Previously JJ had been the Director of Markets at the Financial Services Authority (FSA), a role he performed from 2008 until October 2011. During his time at the FSA, he represented the UK on the Board of the European Securities and Markets Authority (“ESMA”), and its predecessor CESR. He also co-chaired the G20 Iosco task force on commodities and chaired the OTC Derivatives Regulators’ Forum. Prior to joining the FSA in 2007, he had been a Managing Director at JPMorgan, having worked there in a variety of roles since 1989.
- Paul Swann is the President and Managing Director of ICE Clear Europe, the wholly-owned European clearing house of IntercontinentalExchange (NYSE: ICE). He has worked closely with the Derivatives Working Group and DG Market and Services’ informal consultation on Derivatives and Market Infra-structures and was appointed to the Expert Group on Market Infra-structure (EGMI) 2010 - 2011. He is a frequent commentator and speaker on risk and central counterparty issues, with over 20 years experience in European derivatives and equities clearing. Paul has been a member of the Financial Services Practitioner Panel since 1st November 2010, and was appointed Deputy Chairman from 1st July 2012.
- The full membership of the Panel from 1st September will be:
Joe Garner (Chairman), Deputy Chief Executive & Head of UK Bank, HSBC Bank plc
Paul Swann (Deputy Chairman) President & Managing Director, ICE Clear Europe
Graham Beale Chief Executive, Nationwide Building Society
Paul Geddes Chief Executive, Direct Line Group
Mark Harding Group General Counsel, Barclays Bank PLC
John Hitchins Global Chief Accountant, PwC
Simon Hogan Chief Operating Officer for Sales and Trading EMEA Morgan Stanley
Alexander Justham CEO, London Stock Exchange plc
Guy Matthews Chief Operating Officer and Partner, Sarasin & Partners [SBPP Chairman]
Helena Morrissey CBE Chief Executive Officer, Newton Investment Management
John Pollock Group Executive Director, Protection & Annuities, Legal & General Group plc
Malcolm Streatfield Chief Executive, Lighthouse Group plc